Editor’s Note
Major luxury groups like LVMH are seeing robust growth in South Korea, with sales rising about 10%. This surge is driven by strong local and tourist demand for high-end items such as jewelry, watches, and leather goods.
Major luxury conglomerates, including LVMH, have reported a sales increase of approximately 10% in the Korean market. This growth is attributed to strong demand from local consumers and tourists, particularly in high-end jewelry, watches, and leather goods segments.
In response to this positive performance, LVMH Moët Hennessy Louis Vuitton is actively pursuing plans to expand its flagship store presence in South Korea. The strategy focuses on key luxury districts in Seoul, such as Gangnam and Cheongdam-dong, to enhance brand visibility and customer experience.
Market analysts note that Korea’s luxury market remains resilient despite global economic uncertainties. The expansion moves by giants like LVMH signal continued confidence in the purchasing power and fashion consciousness of Korean consumers.
An industry insider commented on the trend, highlighting the importance of physical retail spaces in the luxury sector for brand storytelling and exclusive client services.