LVMH CEO Arnault to visit Seoul next week: sources
Bernard Arnault, chairman and CEO of LVMH (Louis Vuitton Moet Hennessy), attends the annual shareholders meeting of LVMH in Paris, France, April 23. Reuters-Yonhap
LVMH Chairman and CEO Bernard Arnault is expected to visit Korea next week for the first time in three years, industry sources said Saturday.
The chief of the world's largest luxury house is expected to visit local retail giant Shinsegae Inc.'s flagship department store in central Seoul on Monday, according to the sources.
The Louis Vuitton Visionary Journeys Seoul store, a major offline outlet for the high-end fashion brand, which includes exhibition spaces and restaurants, has recently opened inside the department store.
Arnault is also expected to tour Louis Vuitton stores at other local department stores, including those operated by Lotte Group, according to insiders.
Korea is considered one of the world's top spenders of personal luxury goods, with its estimated per capita spending for the category reaching $325 in 2022, according to Morgan Stanley, a global investment bank.