MetaLabs announced on the 26th that it will launch a new division dedicated to the rapidly growing middle-aged and senior market.
Individuals aged 50 and older have historically been considered a niche segment in the domestic consumer market, but they are now emerging as a core customer group, led by 'active seniors' and 'young-olds,' who enjoy vibrant social lives and possess both health and income.
According to the Bank of Korea, as of 2022, over 60% of the net worth of domestic households is concentrated in the 50 and older age group. They are leading consumption in luxury goods, premium healthcare, and high-end leisure sectors. A Morgan Stanley report noted that South Korea has the highest per capita luxury goods consumption at approximately $325.
In this context, MetaLabs will actively pursue premium luxury brand licenses and vendor businesses centered around home shopping and live commerce, where consumption by active seniors and young-olds is thriving through its new division.
MetaLabs has secured home shopping licenses and built distribution networks for globally popular brands such as Paris Saint-Germain (PSG), Lecaf, and Michigan through its fashion distribution business, one of its main ventures. Based on its distribution operation experience and brand management capabilities, MetaLabs expects to add an additional 50 billion won in annual revenue through this business expansion.
A MetaLabs official said, 'The launch of this new division is significant because it goes beyond merely expanding our distribution channels; it enables the company to rapidly expand its business areas in line with market changes and seize opportunities in the sector.' They added, 'We will continue to discover specialized products and services tailored to active seniors and young-old customers, achieving both revenue growth and improved profitability.'