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Luxury labels focus on burgeoning Korean market

Renowned luxury labels are opening pop-up stores and staging world-exclusive fashion shows in South Korea. Louis Vuitton recently opened a new flagship boutique in Seoul late last month designed by renowned architects Frank Gehry and Peter Marino and located in the high-end Cheongdam neighborhood in Gangnam. The French luxury house also showcased a series of pop-up stores at department stores in Seoul and the surrounding Gyeonggi Province, offering South Korean consumers the exclusive advance opportunity to buy select items from next year’s collection.

British-based luxury-handbag maker Mulberry took full ownership of its South Korean business by buying Mulberry Korea from local partner SHK. As part of a wider Asian development strategy, Mulberry made an additional investment of 1.3 million pounds.

Luxury fashion and perfume house Givenchy terminated its distribution contract with Shinsegae International, part of the country’s largest retail conglomerate, Shinsegae to operate its own branch there. Givenchy Korea, under the leadership of Ramon Ros Parellada, hired nearly 100 employees to kick off its own business. The company recently opened its first outlet in South Korea in Seoul, entirely dedicated to its kids collection.

Delvaux, a Belgian luxury goods maker, also launched a branch in the country, its sixth overseas store. The brand, known for its delicate yet very expensive handbags, has recently pushed a local expansion by opening boutique stores.