The company distinguishes between three key milestones in its development: its initial entry into accessory retail in 1991, the launch of the 못된고양이 brand in 2008, and the formal incorporation of NCAT Co., Ltd. in 2011.2

Early retail origins (1991–2007)

N.CAT traces its business roots to 1991, when it began operations in accessory retail. This founding date predates the current corporate identity by two decades, reflecting a long-standing presence in the accessories sector before the establishment of the modern brand.3

Launch of 못된고양이 (2008)

In 2008, the company established 못된고양이, which translates to “Naughty Cat.” This concept introduced the feline motif that remains central to the brand’s visual identity and marketing strategy.4

Corporate expansion and awards (2011)

The business was formally incorporated as NCAT Co., Ltd. in 2011, coinciding with an expansion of its franchise operations. During this period, the brand received a “Brand of the Year” award from the Korean Economic Newspaper.5

International exports and certification (2012)

N.CAT commenced overseas exports in 2012. The company reported annual sales of 30 billion Korean won for that year and obtained ISO 9001 quality-management certification, stating it was the first such certification in its industry.6

Expansion in the Philippines (2013–present)

The Philippines represents a significant milestone in N.CAT’s global growth strategy as the site of its first overseas franchise store, which opened in 2013.7 Since then, the country has become one of the brand’s most substantial international markets. Current store directories list numerous locations throughout the archipelago, extending well beyond Metro Manila to include branches in Bulacan, Cavite, Cebu, Iloilo, Bacolod, Cagayan de Oro, General Santos, Zamboanga, and Cotabato.8

Franchise growth and rebranding (2014–2016)

By 2014, N.CAT had reached 100 franchise locations within South Korea and opened its first store in Hawaii. In 2015, it became the first accessory franchise to enter Homeplus, a major Korean retail chain.9 A comprehensive rebranding took place in 2016, transitioning the corporate identity to NCAT/N.CAT. This shift marked the evolution from the domestic “Naughty Cat” concept to a globally oriented brand. Concurrently, the company established directly managed stores, an integrated logistics center, and five “Naughty Friends” characters.10

N.CAT focuses exclusively on fashion accessories rather than apparel. Its product assortment is categorized into three main segments:

• Jewelry: Fashion jewelry designed for daily wear, including necklaces, earrings, rings, and other decorative pieces.
• Hair accessories: A wide range of hair clips, ornaments, and styling tools.
• Fashion accessories: Various items intended to complement personal style and add visual detail to outfits.

The brand’s merchandising philosophy treats accessories as an affordable means of personalizing everyday looks, distinguishing its offerings from traditional luxury jewelry retailers.10

N.CAT promotes a philosophy of “reasonable consumption,” aiming to provide fashionable products without luxury price points.11 Its stated vision is to be “The No. 1 accessory brand leading the global fashion culture.”11 The company’s mission emphasizes creating new fashion culture and delivering customer satisfaction through high-value products.12 Practically, this positioning combines trend awareness, accessible pricing, everyday utility, and playful design.

The N.CAT name preserves the brand’s feline heritage. The corporate symbol is described as a cute, feminine representation of a cat’s face, serving as the visual personality of the brand.13 The earlier name 못된고양이 literally evokes a mischievous or “naughty” cat, establishing a playful tone distinct from the formal imagery typically associated with jewelry companies.

N.CAT expands internationally through a combination of franchising and direct retail operations. The official international store directory currently lists markets in the Philippines, United States, Taiwan, Japan, Thailand, India, and Cambodia.14 While store counts fluctuate, the English-language site lists approximately 44 international entries.14

Philippine market

The Philippines holds particular historical significance as the location of N.CAT’s first overseas franchise in 2013.15 The brand maintains a widespread retail footprint across the country, with documented branches at major shopping destinations including:

• SM City Fairview
• SM Megamall
• Robinsons Magnolia
• Ayala Malls TriNoma
• Robinsons Place Manila
• Gateway Mall
• SM City Cebu
• Ayala Center Cebu
• Festive Walk Iloilo
• Ayala Malls Centrio
• SM San Jose del Monte Bulacan
• SM City Pampanga
• SM Dasmariñas
• SM Center Muntinlupa
• KCC Mall of Cotabato

These listings indicate a retail strategy that targets both national capital region consumers and key regional urban centers.8

N.CAT occupies a niche between low-cost fashion accessories and traditional jewelry retailers. Its value proposition relies on five pillars:

1. Fashionability: Products align with contemporary style trends.
2. Accessibility: Pricing supports reasonable everyday consumption.
3. Variety: Affordable price points allow customers to frequently update their look.
4. Retail convenience: Heavy reliance on mall-based franchises ensures accessibility.
5. Playful branding: The cat-themed identity differentiates the brand from conservative competitors.

The company describes its products as providing the “small pleasures” of daily life through accessible fashion items.16

The operating entity is NCAT Co., Ltd. (주식회사 엔캣), headquartered at 3-20, NCAT Building, Toegye-ro 6-gil, Jung-gu, Seoul, Republic of Korea. Although the corporation was established in 2011, the company cites 1991 as the start of its retail history.1 Key dates in the corporate timeline include:

• 1991: Accessory retail origins
• 2008: Establishment of 못된고양이 / Naughty Cat
• 2011: Incorporation of NCAT Co., Ltd.
• 2016: Rebranding to NCAT/N.CAT

This timeline explains variations in cited founding dates across different sources.

1. About N.CAT
2. NCAT Vision
3. NCAT History
4. N.CAT(못된고양이)
5. Overseas Stores
6. Overseas Stores
7. N.CAT(못된고양이)
8. Overseas Stores
9. Overseas Stores
10. N.CAT Trademark Application of NCAT CO., LTD. – Serial Number 99499026 :: Justia Trademarks
11. P10 | 111, 1, Garden, 10 Garden Road, Bagumbayan, Quezon City, Metro Manila, Philippines, Eastwood Citywalk 2, Level 2 : Overseas Stores
12. Overseas Stores
13. Overseas Stores
14. Overseas Stores
15. N.CAT(못된고양이)
16. N.CAT COSTUME FASHION JEWELRY SINCE 1991 Trademark of Jin-Ho YANG – Registration Number 4735756 – Serial Number 85859658 :: Justia Trademarks