Kim Jung-ju, founder of game company Nexon.
Kim Jung-ju, founder of South Korea’s largest game company Nexon, has invested in Canadian high-end outwear brand Moose Knuckles, seeking new opportunities in the non-gaming sector.
Kim, who now serves as chief of Nexon’s holding company NXC, took over 23.9 percent stake of the Canadian garment manufacturer for 64.2 billion won ($53 million).
Moose Knuckles is one of the top three high-end winter jacket brands, along with Nobis and Canada Goose. Their winter luxury parkas cost more than $1,000. Moose Knuckles, which targets those in their 30s and 40s, is also popular among teenagers here.
“Kim has been interested in market for millennials and Generation Z,” an official from NXC, was quoted as saying by local newspaper the Korea Economic Daily.
Partnering with local retail giant Lotte Department Store last year, the Canadian luxury outwear brand rolled out a special edition of its winter parkas, and all the 400 pieces were sold out despite of their expensive price tags.
Over the past years, the Nexon founder has been paying keen attention to companies in diverse segments ranging from baby care to pet food.
His investment portfolio includes online marketplace operator for Lego BrickLink, baby stroller maker Stokke, blockchain exchange Korbit, and pet food maker Agras Delic.
Since 2014, Kim has been working with US investment company Collaborative Fund, betting on electric vehicle companies and bean-based meat makers.
By Kim Young-won (firstname.lastname@example.org).