29CM kicks off first-half shopping festival 'Iguweek' with discounts of up to 83%

29CM has opened its biggest first-half shopping event, "Iguweek," running through June 11, with more than 3,000 brands offering discounts of up to 83%.

Iguweek is a large-scale discount festival that 29CM holds twice a year. Last summer's edition generated 94.4 billion won (about $62.8 million) in sales over 10 days.

Throughout the event, 29CM will run a range of themed promotions. A flagship feature called "One Brand Day" puts a single brand in the spotlight each day, offering discounts on spring/summer new arrivals and bestsellers from some of the platform's most popular labels.

The number of brands taking part in the "Encore Entry" promotion — which offers a 29 percent discount — has expanded 66 percent compared with the same event last year. Each day of this year's Iguweek, around 320 brands, including Low Classic, Salomon and For Your Eyes Only, will showcase their top products.

A "Iguweek Purchase Challenge" rewards shoppers based on spending thresholds. Customers who spend 50,000 won (about $33) or more receive a 17 percent discount coupon for their cart, while those who spend 200,000 won (about $133) or more become eligible for a lottery to win Musinsa Money, with prizes scaling up by spending tier.

"We hope this becomes a special shopping opportunity for customers to discover brands that match their tastes," a 29CM official said.