Chapter 70
I’m translating the chapter into HTML with the glossary terms and the special block rules preserved. I’m keeping the narration in novelistic paragraphs and separating each spoken line cleanly.CHAPTER_TITLE: Rapid Growth (4)
At 2:00 p.m., at Hanil Global headquarters.
Seung-hyun arrived in the lobby of Hanil Global’s main building.
Even on a second look, the grand scale of the building and the sleek interior made the weight of a major conglomerate unmistakable.
"President Jung Seung-hyun, welcome. The president has been waiting for you."
Following the secretary’s guidance, he took the elevator up to the executive floor.
When they reached the president’s office, the secretary knocked and opened the door.
"President Jung Seung-hyun has arrived."
President Jeong Man-sik rose from his seat to greet Seung-hyun.
"Welcome, President Jung. Thank you for coming in person."
The two men shook hands and sat across from each other at the table.
"Would you like some coffee?"
"Yes, thank you."
After the secretary brought in coffee and left the office, President Jeong Man-sik got straight to the point.
"Lately, the popularity of Lesser Factory has been very impressive."
"Haha, it's really only been circulating in a small way. And that happened because Cha Hee-ju helped by getting Han Saet-byeol to upload a video to social media. If not for that, I doubt it would have spread much at all."
"What I’m paying attention to is the quality. There was a case before where a domestic influencer sold shoes. They got enormous attention through star marketing, but the finished product was terrible. In the end, that company, which had grown so frighteningly fast, collapsed just as quickly. Once again, it proved that marketing without product quality is nothing but an illusion."
"Ah, yes. I know that product too."
"In that sense, Lesser Factory is very impressive. Not just the design, but especially that fabric called Dual-Tex."
He figured there was no fashion company that wouldn’t be curious about Dual-Tex.
"Are you asking because of the technology behind Aero Coolbreeze...?"
"Ah, don’t misunderstand me. To be honest, I brought it in and looked it over, but it seemed different from our own technology. And somehow, it felt unfinished, if that makes sense."
"Haha, as expected, you’ve done your homework. Dual-Tex was originally a fabric my father was developing before he passed away. Unfortunately, he couldn’t finish it, so I’m trying to carry it on and complete it. To be honest, it’s true that I was inspired by Aero Coolbreeze. Before that, I couldn’t even grasp the concept of forming an air layer."
"You’re being remarkably candid."
"Because it’s true that I was inspired by it."
"Haha, I see. Actually, the reason I asked to meet you today is because I’ve been very impressed with Haesol Textile’s Lesser Factory products."
"Lesser Factory?"
"To be blunt, I’d love to acquire Haesol Textile, but I assume you have no intention of selling."
Seung-hyun gave an awkward laugh.
"Haha, yes. That’s correct."
"As the economy worsens, the textile industry is heading into a serious sales slump, while only low-priced but high-quality SPA brands like Lesser Factory are growing. That’s why I expect Lesser Factory to keep expanding quite significantly. You’re already coordinating the opening of another store beyond Hongdae, aren’t you?"
Seung-hyun was genuinely surprised by President Jeong Man-sik’s grasp of Haesol’s internal affairs.
"That’s right. You really are well informed."
"I’ve been in this business for years. How could I not know something like that?"
"Ah, right."
"In any case, we believe the time will come before long when the growing Lesser Factory turns its eyes overseas."
"Overseas? You’re already thinking that far ahead?"
"You may think it’s too soon, but even if it weren’t our suggestion, I’d say within a year or so you’d be considering overseas markets."
"Hmm..."
"Thailand, Indonesia, and Japan are all regions that would fit Lesser Factory very well. In particular, the qualities of Dual-Tex will be very appealing in those markets."
"So you’re saying you want to work together?"
President Jeong Man-sik took a thick file from his desk drawer and handed it to Seung-hyun.
"That’s right. Our proposal is all in here. Hanil Global operates local subsidiaries in Thailand, Vietnam, Malaysia, Singapore, and Japan. We’re already stocked in the major department stores and shopping malls in each country."
Seung-hyun opened the file and looked through it.
Distribution networks by country, marketing strategy, and projected sales analysis were all laid out in detail.
"This is the cooperation model we’re proposing. Haesol Textile focuses on production and design, while Hanil Global handles overseas distribution and marketing. The profit split is 6:4, with Haesol Textile taking 60 percent."
Seung-hyun raised his eyebrows.
It was not a bad deal at all.
Still...
"Hmm... there’s one thing I’m curious about. If Motion-X is having difficulties, why are you looking to cooperate with Lesser Factory? Wouldn’t it make more sense to push your own brand, 10O'Clock, harder?"
Jeong Man-sik let out a sigh.
"That’s a sharp question. 10O'Clock has already disappointed consumers. It fell short of expectations in both fabric quality and design. On the other hand, Lesser Factory is a fresh brand with the powerful weapon of Dual-Tex. To be frank, what we need right now is a success story. If Lesser Factory can provide that, then we’re prepared to support it."
"I understand. In that case, I’d like to confirm a few more things: maintaining brand identity, the contract term, and the issue of exclusivity."
"Of course. Brand identity remains entirely under Haesol Textile’s control. We’ll only handle local marketing and distribution. We propose an initial five-year term, with renewal based on performance. As for exclusivity, we can handle it differently by region. For example, Hanil Global could hold exclusive distribution rights in Southeast Asia, while Japan could remain non-exclusive."
Seung-hyun slowly flipped through the file, deep in thought.
The proposal was clearly attractive, but cooperation with a major conglomerate always had to be approached carefully.
"Thank you for the good proposal. I’ll review it internally and get back to you. I’d appreciate some time."
"Of course. Take all the time you need and decide carefully. We’re not in a rush."
The two men shook hands and ended the meeting.
On his way out of Hanil Global headquarters, Seung-hyun felt a strange mix of emotions.
Only a few months ago, Hanil Global had seen Haesol Textile as little more than a subcontractor.
And now they were proposing overseas expansion as equal partners.
Dad, we really have grown a lot.
With a jumble of complicated feelings, Seung-hyun headed back to the company.
When he entered Haesol Textile headquarters, Hwang Seok-jae was already hurrying toward him as if he had been waiting.
"President, an email just arrived. It’s from the Defense Acquisition Program Administration."
"The Defense Acquisition Program Administration?"
"Yes. The sender says he is Lieutenant Colonel Mok Jae-gyun, and he’d like to discuss the Dual-Tex fabric."
Seung-hyun wore a puzzled expression.
"Why would the Defense Acquisition Program Administration contact us?"
"If they mentioned the fabric, maybe they want to use ours for something like military uniforms?"
"Military uniforms? Well, I guess it’s not incomprehensible, but where are they expecting us to produce that?"
At present, Plant 1 was using about 70 percent of its entire equipment capacity to produce GyeolBit bedding, while the remaining 30 percent and Plant 2 were handling Lesser Factory fabric production and finished apparel.
"Haha, they probably don’t know we’re running things this hard, so there’s nothing to be done."
"Right, right. Still, since it’s a request from the state, let’s take the meeting."
"Understood."
No matter what price they offered, it was not something that would simply work out, but there was no harm in hearing them out.
At the center of Gangnam, in Seoul, on the top floor of Royal Department Store headquarters.
President Lee Hae-eun stood by the window, looking down over the city.
Despite her white hair, neatly kept with streaks of silver, and the deep wrinkles etched into her face, the woman in her mid-sixties still radiated an imposing charisma.
"Mom, I found out."
Vice President Kim Jun-hyuk stepped through the door. He was a polished man in his mid-thirties.
After graduating from Harvard Business School and building his career at a global consulting firm, he had joined Royal Department Store five years earlier to take over the family business.
"Really? Is it true?"
President Lee Hae-eun turned from the window and asked.
"Yes. We confirmed that Davide Sochi, CEO of Promemoria, entered Korea yesterday. It looks like Mirae Department Store contacted him."
"What in the world..."
She pressed a hand to her throbbing head.
For years she had been working so hard to bring them to Korea, and yet Davide Sochi had refused to move from Italy.
"Did you look into exactly how this happened?"
Kim Jun-hyuk took out a tablet and checked the information.
"Word is that Cha Hee-ju from Mirae Department Store personally picked him up at the airport. Sochi is currently staying at the Four Seasons Hotel and has been visiting the Mirae Department Store flagship and several other places. It looks certain that the Promemoria Korea launch is happening."
Lee Hae-eun let out a deep sigh.
"Did you find out how Mirae Department Store persuaded them?"
He hesitated for a moment before answering.
"I’m not certain, but..."
"What? Even if it’s not certain, you must have heard something."
"Well... I heard Cha Hee-ju gave Davide Sochi a quilt as a gift."
"A quilt?"
"Yes. I heard it from a friend at Mirae Department Store headquarters, but he isn’t close to Cha Hee-ju, so I can’t say for sure."
President Lee Hae-eun frowned, thinking her son’s report might not be entirely implausible.
"I’ve never heard of winning someone over with a quilt. If that’s true, then there’s a good chance it was real. What brand of quilt was it?"
"I’ve never heard of it either. I asked around, and even that friend didn’t know much. He said it wasn’t a Korean brand..."
"That much is obvious."
To move someone of Davide Sochi’s stature, it would have to be a top-tier luxury brand.
So naturally, she assumed it couldn’t be Korean.
At least, not any Korean luxury bedding brand she knew of, because she considered none of them to have that kind of value.
President Lee Hae-eun continued, "Find out exactly what that quilt brand is. What company it belongs to, what kind of products it makes, and what relationship it has with Promemoria."
"I’m already on it. My friend at Mirae Department Store says he’ll dig up the details and call me back..."
Just then, Kim Jun-hyuk’s phone rang.
He checked the screen and looked a little startled.
"Turning your phone to silent during a meeting is basic manners. Do you do that everywhere else too?"
"I forgot. Sorry. But..."
"But what?"
"Heeju sent me a message."
"Cha Hee-ju?"
Since they had just been talking about Cha Hee-ju from Mirae Department Store, the president’s eyes narrowed.
"Yes. Ha... that girl wants to hold a victory celebration."
"What are you talking about?"
"She’s inviting us to a celebration party for the Promemoria Korea launch agreement. It’s this Friday evening at the Four Seasons Hotel."
Only then did she understand what her son was saying, and her face twisted into a miserable scowl.
"That crazy girl... just like her mother, showing off wherever she goes..."
"If you don’t go, I’ll go in your place."
"You’re going to what?"
"I should go. If I don’t, it’ll just make my jealousy more obvious. If I go and act like it’s nothing, that’ll be better."
"Hmph! Well, isn’t that lovely. Just lovely."
"So I’m saying I’ll go alone. If they invited us and we don’t show, that’ll hurt our pride even more. And besides, who knows? Maybe I can get acquainted with Davide Sochi and soon open a store at Royal Department Store too."
"If you go, don’t come back having puffed up that kid’s ego too much."
Kim Jun-hyuk gave a faint smile at his mother’s instruction.
"Come on... you really think you can set Heeju up against me? What is she, anyway? How old is she? I’ll go see just how far she’s come."
He was curious.
How had Heeju, barely dry behind the ears, accomplished what Royal Department Store itself had failed to do?
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