The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Song Joong-ki marries British woman, expects baby

  • 3

    Suicidal pedestrian saved over Han River bridge

  • 5

    US four-star general warns of war with China in 2025

  • 7

    Korean Lunar New Year vs. Chinese Lunar New Year

  • 9

    Over 76% of South Koreans support development of nuclear weapons

  • 11

    INTERVIEWBusan has potential to be world-class city, says mayor

  • 13

    Koreans reluctant to unmask on first day of eased indoor mask rule

  • 15

    Samsung to introduce low-carbon diet for employees to help tackle climate change

  • 17

    Base taxi fare to rise by 1,000 won to 4,800 won next month

  • 19

    Stock-leveraged investments rise again amid bullish KOSPI

  • 2

    Japanese teen romance film attracts 1 mil. Korean viewers for 1st time in 21 yrs

  • 4

    Korea to lift indoor mask mandate Monday

  • 6

    Kim Jung-hyun returns to small screen with 'Kokdu: Season of Deity'

  • 8

    K-pop releases for February

  • 10

    Youth, foreign drug offenders increase threefold in 5 years

  • 12

    'Someday or One Day' cast says film spin-off has new plot

  • 14

    NK rejects alleged arms trading with Russia, warns of 'undesirable result'

  • 16

    Seoul International School celebrates 50th anniversary

  • 18

    Plum trees, pheasants and promises of old Korea

  • 20

    Main opposition leader faces pressure to resign in case of indictment

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Tue, January 31, 2023 | 23:25
Louis Vuitton to focus on department store business
Posted : 2021-06-24 09:11
Updated : 2021-06-24 17:52
Kim Jae-heun
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link

A young male customer looks at a luxury bag at Hyundai Department Store in Apgujeong, Seoul, on April 11. Korea time file
A young male customer looks at a luxury bag at Hyundai Department Store in Apgujeong, Seoul, on April 11. Korea time file
By Kim Jae-heun

French fashion house Louis Vuitton is set to beef up its menswear business as it pulls out of duty free stores here.

Earlier this month, British publisher, The Moodie Davitt Report, said Louis Vuitton was "progressively withdrawing from much of its downtown duty free business in Korea.

This seems to be part of the fashion house's strategy to maintain its brand reputation by preventing "daigou," or surrogate shoppers, from sweeping up products in duty free shops in downtown Seoul. These shoppers are paid to purchase luxury goods for overseas Chinese customers.

Instead, Louis Vuitton is planning to open menswear boutiques at department stores in Apgujeong, southern Seoul, June 24, and in the Jung District, downtown Seoul, in August.

Male customers are emerging as big spenders on luxury products in the local market, and Louis Vuitton wants to target them.

The luxury menswear segment was considered as a small market; but recently, young men have begun to show an increasing interest in high-end fashion.

The heightened interest stems from employers allowing workers to dress casually in the office; while curtailed overseas travel due to the COVID-19 pandemic has left young consumers here with more cash to spend on expensive clothing instead of plane tickets and hotels.

"The trend of adopting free dress codes at local IT firms and start-up companies has been spreading and it has led male customers to pay more attention to luxury goods. In the past, men would come to high-end boutiques with their wives, but these days there is an increasing number of young male customers visiting luxury stores on their own," a Hyundai Department Store staffer said.

At four major department stores, sales generated by menswear increased by 5 percent to 40 percent compared to revenue coming from womenswear.

According to Lotte Department Store, sales of luxury products to men in their 30s to 50s increased by 60 percent to 77 percent, far exceeding the average growth rate of 59.3 percent.

Other luxury fashion houses, including Prada and Dolce & Gabbana, opened menswear boutiques at Hyundai Department Store in Apgujeong, in January and June, respectively. In the second half of last year, Gucci and Balenciaga also launched their menswear brands at the same retailer.

Hyundai Department Store renovated the whole fourth floor to offer only men's luxury brands; and its other branches in Yeouido and in Samseong-dong are also expanding into high-end brand stores for men.


Emailjhkim@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1Korean Lunar New Year vs. Chinese Lunar New Year Korean Lunar New Year vs. Chinese Lunar New Year
2Over 76% of South Koreans support development of nuclear weapons Over 76% of South Koreans support development of nuclear weapons
3Koreans reluctant to unmask on first day of eased indoor mask rule Koreans reluctant to unmask on first day of eased indoor mask rule
4Stock-leveraged investments rise again amid bullish KOSPI Stock-leveraged investments rise again amid bullish KOSPI
5[ANALYSIS] Pandemic awakens demand for data-driven automation ANALYSISPandemic awakens demand for data-driven automation
6SPC opens 120th Paris Baguette store in US SPC opens 120th Paris Baguette store in US
7Busan seeks to take lead in expo race after BIE's April visit Busan seeks to take lead in expo race after BIE's April visit
8Retailers seek to bolster beauty product sales as lifting of mask mandate approaches Retailers seek to bolster beauty product sales as lifting of mask mandate approaches
9Biohealth geared for growth Biohealth geared for growth
10NK slams NATO chief's Seoul visit as 'prelude to war' NK slams NATO chief's Seoul visit as 'prelude to war'
Top 5 Entertainment News
1Song Joong-ki marries British woman, expects baby Song Joong-ki marries British woman, expects baby
2Kim Jung-hyun returns to small screen with 'Kokdu: Season of Deity' Kim Jung-hyun returns to small screen with 'Kokdu: Season of Deity'
3K-pop releases for February K-pop releases for February
4'Someday or One Day' cast says film spin-off has new plot 'Someday or One Day' cast says film spin-off has new plot
5Itaewon music fest brings love to the healing process Itaewon music fest brings love to the healing process
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group