SEOUL, May 09 (AJP) - Bernard Arnault, chairman and CEO of French luxury giant LVMH, is set to arrive in Seoul on Monday for his first visit to South Korea in three years, according to industry sources on Saturday.
The visit comes as South Korea continues to solidify its position as a "key strategic market" for global luxury houses. While luxury sales in Europe and Japan have softened amid a global cooling of high-end demand—and Middle Eastern markets have seen a downturn due to regional conflicts—the South Korean market has remained exceptionally resilient.
Industry insiders noted that Hermès, Louis Vuitton, and Chanel—all reported record-breaking performance in Korea last year despite the global economic slowdown.
During his stay, Arnault is scheduled to visit the Shinsegae Department Store’s flagship outlet in central Seoul on May 11 to inspect "Louis Vuitton Visionary Journeys Seoul". The sprawling six-story experiential space stands as the brand's largest retail location in the world.
Arnault is also expected to tour major luxury hubs at Lotte Department Store and Shinsegae Gangnam to review local operations. The LVMH chief’s return follows a 2023 trip where he met with top South Korean business leaders, including Lotte Group Chairman Shin Dong-bin.
The timing is particularly notable as Arnault is expected to tour the Shinsegae flagship on a day the store is closed to the public, allowing for an uninterrupted inspection of the site's high-end dining and cultural facilities.
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