Korean-American apparel company Edgemine is celebrating its 30th anniversary.
CEO of Edgemine Kevin Kang, who has led the company for the past 30 years, officially stepped down from the leadership of the company on October 1, handing over the management of the company to a younger CEO.
This is a direct manifestation of his management philosophy, which emphasizes that the ‘next generation’ should be able to emerge as the leading force on the foundation laid by the first generation.
Kang will focus on the Kang Dream Foundation, which is celebrating its 13th anniversary this year, and the Korean American Foundation (KAF), where he serves as Chairman, to support the community and establish the next generation of Korean-American organizations.
The Korea Daily met with Kang at Edgemine’s headquarters in Downtown LA.
How did you get started in the wholesale apparel business?
“As an entrepreneur, I’ve had my ups and downs. There’s nothing I haven’t done since I came to America. All I had was an inherited entrepreneurial spirit. My father owned a sawmill business, so I naturally acquired a sense of business. From the age of 20, I ran a Playboy store in the center of Myeongdong and sold real estate in Gangnam, Korea. I made a lot of money at one point but went through a downturn and went bankrupt. In early 1982, at the age of 28, I came to the U.S. and sold clothes at a swap meet. The sales grew so fast that my wife, who was a nurse, had to take a leave to help. In 1994, I opened a clothing store downtown called Mine, which expanded and grew into Edgemine.”
What kind of company is Edgemine?
“Edgemine is a consolidation of ‘Mine’ and ‘Edge’ brands, which was launched in 2002. Initially, we made low-priced clothing to compete in the fashion market. As we expanded to mid-priced clothing, we entered the mainstream market, including high-end department stores. Currently, the company owns Blu Pepper, Moon River, By The River, Mine, E&M, Perch, The Workshop, Zoe and Claire, and online apparel company August Sky. It also supplies high-end department stores such as Nordstrom and Bloomingdale’s, as well as TJ Maxx, Ross, and other mid-priced retailers, and South America. I don’t want to characterize Edgemine as a downtown fabric market company. We have the systems in place to compete with major brands.”
What’s the key to 30 years of success?
“We responded quickly to change. We diversified our business by starting import and production in China, launching a mid-priced brand, expanding our brands, and e-commerce. With a wide range of brands and price points, we expanded our customer base and significantly increased the number of business partners. The launch of mid-priced products has improved the overall product quality. Our competitive price-quality balance also contributed to our growth.”
What is your business philosophy?
“‘Live life at a slower pace’ is my business philosophy. Edgemine is a fashion company that moves quickly to follow trends and is constantly changing and innovating. Among these changes, I insisted on a management that slows down the pace. It’s not easy to make careful decisions if you chase after things greedily.”
You handed over the company leadership to the next generation.
“As I thought about handing over the management to the next generation, I tried to cultivate the next generation of leaders. As we approached our 30th anniversary, I named Kristen Han, who joined the company as a designer and worked her way up to the Director of Design and then to management of the company, and my second daughter, Sarah Kang, our Vice President, as co-CEOs. With their fantastic teamwork, the company’s sales have grown significantly. They have also upgraded employee benefits and working environment, which has increased employee satisfaction. Recently, the company pioneered the 4.5-day workweek among Korean-American businesses, further reducing employee turnover. With young CEOs at the forefront of the company, I expect Edgemine’s 40th anniversary will be even better.”
What are your future plans?
“The Kang Dream Foundation is celebrating its 13th anniversary. We plan to increase the fund in the future and expand community support. Donations are like building a forest. You grow trees that provide shade for people and share the fruit with the hungry, and as you increase their number, the community thrives. I’m also looking to grow the Korean American Foundation’s Founder’s Circle from 50 to 100 members and create an organization that brings together second-generation Korean Americans.”
BY EUNYOUNG LEE, HOONSIK WOO [lee.eunyoung6@koreadaily.com]
