By Choi Sung-jin
Global luxury brands are competing to win the hearts of Korean consumers. They are opening exclusive stores in Korea, developing products for Korean customers and employing Koreans as their public goodwill ambassadors.
According to business sources, Lardini, an Italian male suit brand imported by Shinsegae International, has recently opened an independent shop in Korea. The suit maker has been operating here in the form of a multi-shop or select shop so far.
“Korea is the country that provides the best conditions for expanding our retailing in the Asian market,” a Lardini sales official said.
Christopher Kane, a famous British designer, has also opened an exclusive store in Shinsegae Department Store, his first in Asia.
Some are releasing products for only the Korean market.
Fendi put to market a limited edition of the Peekaboo bag for Korean consumers last year, St. John, a U.S. apparel brand favored by Hillary Clinton, released “Korea Exclusive” clothes, and Robert Clergerie, a French shoemaker, also introduced a Korea-exclusive model by recreating its JAVA-style shoes. Robert Clergerie, which has a 120-year history, managed by First Heritage Brand that also owns the Sonia Rykiel and Delveau brands, designed it in black and silver.
Roger Dubuis, a Swiss watchmaker, has created a Korean-language website and named Choo Shin-soo, a Major League Baseball player, as its first Asian friendship ambassador. “Our headquarters office has high expectations for the rapidly growing Korean market,” a Korean manager of the global watch brand said.
The luxury brands’ advances to the Korean market have begun with the worldwide spread of hallyu and Korean cosmetics with the name of K-beauty. Korea’s domestic market is small but has served as the precursor of the vast market behind it – China – the industry executives said.
Japan had played the role of “fashion point,” but Korea is gradually replacing its neighbor to the east, riding on K-pop, K-drama and K-beauty. It is also against this backdrop that Chanel and Dior are opening flagship stores in Korea or are planning them, as well as holding global fashion shows and exhibition here, they said.
“Korea has limitations for expandability because it is a small country with a small population, but it is important in that China regards Korea as a model for benchmarking,” said an industry official. “Luxury brands think China is the last growth market remaining, along with the Middle East, and Korea is a perfect test bed for China because Chinese people tend to show enthusiasm for brands and products popular among Koreans.”