[Edaily Reporter Kwon Oh Seok ] K-Fashion specialist TBH GLOBAL(084870)announced on the 7th that it achieved both revenue growth and improved profitability in the first half of this year, driven by growth in its online channels and major brands, as well as inventory efficiency. Based on its strong first-half performance, TBH GLOBAL plans to continue this trend of improved annual performance through the fourth quarter, which is its peak season.

TBH GLOBAL announced that its consolidated revenue for the first half of this year reached 100.6 billion won, an increase of approximately 13.9% compared to the same period last year. Operating profit for the same period rose by about 176% to 2.678 billion won. Net income stood at 318 million won, continuing the company’s trend of profitability. Notably, first-half operating profit already reached 85% of last year’s full-year operating profit; with the fourth quarter—the peak season—still ahead, the annual improvement in profits is expected to be even greater.
TBH GLOBAL attributed its strong first-half performance to expanding sales channels by strengthening its online presence and securing new business partners such as Daiso, while simultaneously increasing the proportion of women’s apparel and implementing data-driven inventory management.
Sales growth in the first half was driven by expanded sales through online channels and key brands. While the flagship brand Mind Bridge maintained steady double-digit growth, Basic House recorded triple-digit sales growth. In particular, new sales generated through Daiso this year drove Basic House’s sales expansion.
Online sales, combining external marketplaces and the company’s own online store, totaled 40.4 billion won, an increase of approximately 32.3% compared to the same period last year. The share of online sales in total revenue also rose by 5.6 percentage points (p), from 32.8% to 38.4%. By channel, sales on external marketplaces increased by 35.3%, while sales on the company’s own online store rose by 13.3%.
Growth in the women’s apparel segment also served as a key driver of revenue expansion in the first half of the year. Revenue in the women’s apparel segment rose 14.7% year-over-year in the first half, supporting overall growth. In particular, MindBridge expanded its product lineup and strengthened its product planning this year, resulting in a 36.7% year-over-year increase in women’s apparel revenue—significantly outpacing the brand’s overall growth rate of 13.6%—and the share of women’s apparel revenue within the brand also expanded by 2.5 percentage points.
Operating profit increased significantly, reflecting the effects of sales growth in online channels and major brands, as well as improved inventory management efficiency. TBH GLOBAL’s average inventory-to-assets ratio for the first half of the year was 6.9%, down 1.45 percentage points from the same period last year (8.35%). TBH GLOBAL is improving its inventory structure by reducing the burden of carryover inventory and increasing the proportion of new-season inventory, based on sales data. The goal is to maximize profitability by boosting the sales rate of new products while reducing the burden of discount sales and inventory write-downs.
TBH GLOBAL expects this trend of performance growth to continue in the second half of the year. This is because the company is strengthening its product lineups and sales strategies by brand and channel in preparation for the fourth quarter—its peak season—while also securing additional growth momentum by officially launching its new global brand, “Time Out.”
A TBH GLOBAL official stated, “Based on growth in our online channels and women’s apparel segment, as well as more efficient inventory management, we achieved both revenue growth and improved profitability in the first half of this year.” The official added, “We will continue this trend of improved performance through the fourth quarter and, at the same time, successfully launch ‘Time Out’—which we are preparing as a key initiative—to strengthen our foundation for mid- to long-term growth.”