Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

Rash guard is the hottest selling apparel item in Korea this summer. Rash guards are made of spandex, nylon, and polyester. Rash guards originally were popular among the surfers, but now they are now popular among the mainstream demographics. Rash guards target a wide range of age brackets, but mainly focused on those in their teens to 40s, for both men and women. Rash guards help to protect the wearers' skin from over exposure to harmful UV rays and also there have been more diverse designs and…

Rash guard is the hottest selling apparel item in Korea this summer. Rash guards are made of spandex, nylon, and polyester. Rash guards originally were popular among the surfers, but now they are now popular among the mainstream demographics. Rash guards target a wide range of age brackets, but mainly focused on those in their teens to 40s, for both men and women. Rash guards help to protect the wearers' skin from over exposure to harmful UV rays and also there have been more diverse designs and…

Hottest Selling Apparel Item in Korea This Summer - Rash Guard

Thematic (Sector/Industry)

<ul><li>NS Shopping represents value investing at its core.</li><li>It is an unfairly cheap stock with base case 47% upside from current levels. (Trading at 3.8x EV/EBITDA).</li><li>NS Shopping boasts the highest ROE, operating margins, sales growth, and operating profit growth among its peers.</li><li>Net cash is 35% of its market cap. </li><li>We like the company's focus on food related products for home shopping.  For the company, food related items are returned only 2-3%. This is much lower than other items such as clothing. </li><li>One of the significant trends in the Korean TV industry in the past year has been the increasing popularity of the "Cook-Bang" TV shows, which combine both cooking and entertainment. In particular, four cable TV shows, including "Take Care of My Refrigerator," "What Shall We Eat Today?", "Master Chef Korea," and "Mr. Baik: The Homemade Food Master" have gained rapid popularity. Increasing popularity of the food oriented TV shows also help NS Shopping as these food focused programs mention specific food items and these items often become hot selling items in NS Shopping. </li></ul>

NS Shopping represents value investing at its core.It is an unfairly cheap stock with base case 47% upside from current levels. (Trading at 3.8x EV/EBITDA).NS Shopping boasts the highest ROE, operating margins, sales growth, and operating profit growth among its peers.Net cash is 35% of its market cap. We like the company's focus on food related products for home shopping.  For the company, food related items are returned only 2-3%. This is much lower than other items such as clothing. One of the significant trends in the Korean TV industry in the past year has been the increasing popularity of the "Cook-Bang" TV shows, which combine both cooking and entertainment. In particular, four cable TV shows, including "Take Care of My Refrigerator," "What Shall We Eat Today?", "Master Chef Korea," and "Mr. Baik: The Homemade Food Master" have gained rapid popularity. Increasing popularity of the food oriented TV shows also help NS Shopping as these food focused programs mention specific food items and these items often become hot selling items in NS Shopping. 

Value Investing at Its Core (NS Shopping - 138250KS)

South Korea

TK Chemical Corporation manufactures and sell synthetic fibers. The Company's main business divisions are polyester business, spandex buisness and PET resin business.

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TK Chemical (104480 KS)

Hottest Selling Apparel Item in Korea This Summer - Rash Guard

Rash guard is the hottest selling apparel item in Korea this summer. Rash guards are made of spandex, nylon, and polyester. Rash guards originally...

Douglas Kim

Value Investing at Its Core (NS Shopping - 138250KS)

NS Shopping represents value investing at its core. It is an unfairly cheap stock with base case 47% upside from current levels. (Trading at 3.8x...

Douglas Kim

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