Arnault family tours Seoul luxury landmarks as Korea cements status as key LVMH market

SEOUL, May 12 (AJP) -Bernard Arnault, chairman of luxury conglomerate LVMH, toured South Korea’s leading department stores Monday in his first visit to the country in three years, underscoring Korea’s growing importance to the global luxury industry even as demand slows elsewhere.

The billionaire chairman began his Seoul itinerary at Shinsegae Department Store Main Branch, where he briefly spoke with executives and Louis Vuitton officials before entering “The Reserve,” home to “Louis Vuitton Visionary Journey Seoul,” the brand’s largest such space worldwide.

Accompanying him was Delphine Arnault, daughter of Bernard Arnault and chief executive of Christian Dior, along with other senior LVMH executives.

The delegation later toured Lotte Department Store Main Branch, Lotte Department Store Jamsil Branch and Shinsegae Department Store Gangnam Branch, inspecting flagship boutiques including Louis Vuitton, Dior, Loro Piana and Bulgari.

  Industry observers viewed the trip as a high-level inspection of one of the world’s most resilient luxury markets. South Korea has emerged as a crucial growth driver for global luxury houses, powered by younger consumers and strong spending among affluent Gen Z and millennial shoppers despite a broader slowdown in China and other major markets. 
   

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