The Investment Proposal (1)
"From what I've heard, don't you want to expand the company even further?"
Gabriel spoke quietly as he spread a pastel-toned slide deck across the table.
It was packed with schedules not only for their luxury furniture and interior lines, but also for the Luxury & Lifestyle Showcase events being held in major cities around the world.
As Seung-hyun scanned the slides, the question of overseas expansion, which he had been wrestling with just recently, rose again in his mind.
Through GyeolBit art fabric and Aero Coolbreeze, he had secured a foothold in the domestic market, but if Haesol Textile wanted to grow beyond that, it would have to cross into overseas markets somehow.
And he had already learned, at least in part, through the collaboration process with Hanil Global, just how high and complicated that threshold could be.
"You said expansion, but to be honest, overseas certification, customs clearance, and building a network aren't easy issues. If Haesol Textile grows quickly, I wonder whether we can really operate it properly..."
As Seung-hyun let the sentence trail off, Yu Se-rin smiled calmly and added an explanation.
"We understand that very well. That's why, from the LVMH side, we're considering a more direct approach. In other words, we could support Haesol Textile's global expansion through equity investment. For example, we might invest anywhere from 20 to as much as 30 percent equity, and fully assist with European customs, certification, and sales channels... something along those lines. Of course, we'd also support the company's growth in various other ways."
20 to 30 percent equity.
Seung-hyun swallowed hard without meaning to.
This wasn't just a simple promotional collaboration. It was an offer to give up part of the company and move forward together.
On the surface, it looked like gaining a mighty army at his back, but for a small or mid-sized company, the word investment could be a sweet poison.
"Then... what exactly is LVMH's intention here?"
It was a direct question, but Seung-hyun wanted to pin it down clearly.
For Yu Se-rin, Gabriel's sudden investment proposal was deeply disconcerting.
Until now, he had only acted as if Haesol Textile was an interesting company, and the fact that he was suddenly trying to draw them in with an investment offer was shocking enough.
So she looked at Gabriel, and he met her gaze with a slight smile before answering again in soft, polished English.
"In the luxury and high-end goods field, our LVMH Group wants to discover companies in the Asian market that possess distinctive artistry and technical skill. It was Haesol Textile's art fabric that caught our interest.
Talent is something special. You don't create something that captures people's hearts merely by pouring in capital and manpower. Only those with real talent can make that happen.
I saw that in you."
When he finished, Seung-hyun's mind turned over restlessly.
There was already Aero Coolbreeze, being co-developed with Hanil Global, and business with domestic and overseas furniture companies was surging through Daeryung Trading and Lime Design.
The company was already running without a spare breath to its name, and if LVMH came in on top of that, would Haesol Textile end up becoming too dependent on overseas markets too quickly?
"To be honest, I feel like the company is already growing without even a moment to breathe. Collaboration with Hanil Global and Daeryung Trading is continuing to expand, too. If we take on investment, profits will definitely increase, but... might there be more management interference? Could we end up losing autonomy?"
If things went badly, Haesol Textile's independently driven innovations could be slowed down.
If they didn't want dual-textile development and only cared about art fabric production, for example...
Haesol Textile still hadn't fully shed its label as a small or mid-sized business, so with giant capital coming in, he thought the company's managerial authority might be shaken more than expected.
"That's a good question."
Gabriel took a slow sip of tea before continuing.
"What LVMH wants is for your technology and artistic sensibility to be presented to the broadest possible market. We have absolutely no intention of taking over more than 50 percent equity or stripping away your decision-making rights. It's simply that, when our network and Haesol Textile's unmatched fabric come together, we can create tremendous added value... We want to draw the bigger picture together."
Seung-hyun answered with a small nod.
For now, the reassurance that they weren't talking about buying a controlling stake was a relief.
But even 20 to 30 percent was not a small share.
That made LVMH a real pillar of the company, which meant they might become deeply involved in Haesol Textile's overall management.
"Thank you. As you said, if the LVMH Group were to invest in our company, it would be an enormous help. But... I'm sorry, I can't give you an answer today. There are other partners at the factory, and I need to review our internal situation. Our production lines are already running at full capacity, so we'd need additional equipment and more staff as well..."
It was a polite answer on the surface, but in effect it was a reserved request for more time.
Gabriel smiled without the slightest sign of disappointment.
"Of course. This isn't something to decide right away. Think it over slowly, and just get in touch with us when you're ready. You're always welcome."
Yu Se-rin added as well.
"I've never seen him bring up an investment proposal this suddenly before. It will definitely be a good opportunity, so I'd recommend considering it positively."
The conversation came to a close, but Seung-hyun's mind only grew more tangled.
It was certainly a dreamlike opportunity that the LVMH Group, a global luxury conglomerate unlike the major companies in Korea, had come forward with such a friendly proposal...
At the same time, he couldn't shake the uneasy feeling that someday the company he had built might become someone else's, and he'd be caught off guard when that moment came.
Back at the company, Seung-hyun turned on his computer, laid out his father's worn old notebook, and fell into thought.
What would Dad have done? I came this far because I didn't want to stay nothing more than a subcontractor for a big company... Is this really the right path?
Before long, the faces of their existing partners, Hanil Global and Daeryung Trading, also began to weigh on him.
They might warn themselves, Won't you eventually turn into a competitor? Or they might read him for signs and grumble, Are you neglecting us now?
What was more, the company had already grown at a breathtaking pace in a short time, leaving them burdened with staffing strain. He wondered whether he and his employees had the stamina to take one more step overseas.
Caught between the brilliant future LVMH investment promised and the danger lurking beneath it, he felt more unlike himself than ever.
"This really... isn't something to decide lightly."
*
As soon as the official schedule for Seoul Fashion Week ended, Kim In-hyuk left the venue with a face stiff enough to freeze stone.
Throughout the event, he had been singled out by others as the so-called hot new designer basking in the spotlight.
He had already expected to draw this much attention, since he was backed by his connections through Taesung Apparel, but he himself wasn't happy at all.
It may have looked like a successful show from the outside, but in his head, the scene from earlier kept looping over and over.
"Jung Seung-hyun... why the hell was he there...?"
The moment the director of Roche Bobois, a European high-end furniture company, and someone from the global luxury giant LVMH had stood around Jung Seung-hyun, the young factory owner, chatting merrily with him.
That image had been branded into Kim In-hyuk's mind.
He had believed that the one obvious, acknowledged talented rising designer was himself, Kim In-hyuk, but instead it was Seung-hyun who had suddenly stolen the spotlight there.
It felt as though his own stage had been taken from him.
Back home, In-hyuk stared blankly for a moment at his phone screen, covered with congratulatory messages, then threw it onto the bedside table.
He had been congratulated all day, so why did he feel so hollow?
"I got this much attention... so why am I not happy?"
In the end, the only thing that kept surfacing in his mind was that one moment when he'd been crushed by Jung Seung-hyun.
Kim In-hyuk let out a desolate breath and stood before the mirror.
The luxury suit he had specially fitted for the day, the flashy brooch, the perfectly set hair...
All of it felt meaningless, because his expression was already stained with exhaustion and rage.
"Damn it... that bastard's just the owner of a fabric factory to begin with. How are the high-end circles so worked up over him...?"
In the end, Kim In-hyuk spent the entire night unable to sleep, turning it over in his head.
So many people had sent him praise, but Jung Seung-hyun alone had acted as though he didn't care at all. Worse, it was the image of Roche Bobois and LVMH rating him above In-hyuk that kept replaying in his mind.
No matter how hard he shook his head, that image wouldn't go away.
*
After all six days of Seoul Fashion Week had ended.
Early in the morning, Seung-hyun left home and drove to Haesol Textile's factory.
Inside the company, everyone was busy with post-Fashion Week cleanup and with the production schedule for Aero Coolbreeze with Hanil Global.
On top of that, the investment proposal from LVMH kept circling in his head, so Seung-hyun hoped the clear morning air would help him cool off a little.
"Haa... investment, huh..."
Stopped at a traffic light, Seung-hyun turned it over in his mind.
Just a month ago, he'd been on edge because the factory's operations were unstable, and now, instead, too many proposals were coming in all at once.
Hanil Global, Daeryung Trading, and now LVMH.
No matter how welcome the news might be, if he accepted it blindly, the collision between interests was obvious.
And then, in that instant,
Bang!
"Whoa!"
The impact hit hard enough that the body of the car, which had clearly been held by the brakes, jolted slightly forward.
Seung-hyun was startled and instinctively sucked in a breath, then quickly checked the rearview mirror for the car behind him.
It hadn't been a heavy hit, but it was obvious that the vehicle behind him had rammed him.
"What the...?"
Seung-hyun switched on his hazard lights and carefully got out of the car.
The driver of the car behind him also opened his door and hurried out.
The man looked tall, with gray beginning to show in his hair, and seemed to be in his late fifties.
Given the neat suit and the well-kept sedan he was driving, he looked like the president of some company.
"Oh dear, I'm sorry. I was lost in thought and..."
"Ah, are you all right?"
As Seung-hyun asked first, the man kept bowing repeatedly in apology.
"I'm fine, really. Are you all right, sir? I startled you, didn't I? I'm sorry. It's been more than ten years since I last had an accident, and I made a mistake today. I'll call insurance right away."
To the eye, both cars seemed to have only minor scratches on the bumpers, but they exchanged contact information for the insurance claim.
A little later, while they waited for the insurance agent to arrive, Seung-hyun and the man stood quietly beside their cars.
Then the older man glanced at the rear door of Seung-hyun's car.
The rear window wasn't tinted, so the sample fabrics stacked inside were fully visible.
"Looks like you're on your way to do business? Are you doing work like curtains or something?"
"Ah, no. I run a fabric factory. Those are sample materials."
"No, you're still so young and you're running a factory? That's impressive."
"Oh, not really. It's a factory my father used to run, and it just ended up with me managing it."
"I see. Still, that's impressive."
After trading those brief words of praise, Seung-hyun asked out of simple curiosity,
"By the way, what kind of work do you do, sir...?"
The middle-aged man burst into hearty laughter.
"Haha, I'm not a company president. I'm just unemployed. Unemployed."
"Unemployed? But you dress so well..."
At that, the middle-aged man wore an expression that was a little bitter and a little embarrassed.
"Well... I retired not long ago, but I couldn't just sit at home in the morning. So I came out. When I go around the city dressed like this or visit good restaurants, it feels like the blockage in my chest loosens up a bit."
"Ah... you've retired. Then before that..."
"There's a subsidiary of Future Technology called Future Automobile. I was the head of financial management there."
Seung-hyun's eyes widened.
"That's incredible!"
But even with Seung-hyun's praise, the man's expression didn't brighten.
"What good is that? Now I'm treated like a used battery."
"...Please don't say that. I'm sure you'll find a good job. Our company is already struggling with an investment proposal, but we're not the only place like that, are we? A bigger company will surely want to bring in someone as capable as you."
He frowned, then stepped closer to Seung-hyun.
"You've received an investment proposal?"
"Yes. But for a small company like ours, we don't really have anyone who can properly analyze such high-level financial relationships. We do have an accounting manager, though..."
The middle-aged man looked at Seung-hyun with a serious expression, then spoke softly.
"Then... how about I help you a little?"