Dior Continues To Expand, Seoul Will Become Asia Luxury Center

Dior will open its first independent store in Seoul, South Korea, which will also become the largest flagship store in Asia in Dior.

The flagship store of Dior is designed by French architect De Portzamparc, with a total of 6 floors.

Each layer displays specific product categories, including handbags, jewelry and watches, ready-made clothes and shoes.

On the 4 floor of the shop, there are Palace of Versailles VIP VIP rooms and galleries, and five layers of cafes.

Dior has even launched a limited edition handbag for the flagship store.

Dior is not the only brand that has had a big move in Korea recently.

Just last month, Chanel moved the 2016 early spring holiday series fashion conference to Seoul.

After Japan, Korea is becoming the market that many luxury brands are competing for.

Luxury brands think Korea's position in Asia is becoming more and more important. What exactly do they see in Korea?

Luxury brands also aim at the potential purchasing power of Chinese consumers who travel to Korea.

China's National Tourism Administration said that in 2014, South Korea exceeded other countries and became the most popular destination for Chinese tourists.

Because of the Chinese government's anti-corruption and unfair consumption tax.

The number of Chinese consumers shopping overseas has been rising.

In 2014, the number of overseas shoppers in China increased by 9% to $81 billion.

According to Bain consulting, last year, 55% of Chinese consumers' luxury consumption went abroad, and 15% completed by purchasing.

At present, South Korea and Hongkong are still the ideal shopping places for luxury consumers.

In the first 11 months of 2014, the number of Chinese consumers who went shopping in Korea increased by 40% to 5 million 700 thousand.

In 2013, the consumption of Chinese consumers accounted for 1.9% of the total domestic retail sales in Korea, about 6 billion US dollars.

It is expected that this figure will rise to $29 billion 800 million by 2020, and the proportion of Korean retail consumption will also rise to 7.7%.

Take Chanel for example. In Korea, Chanel has 15 stores and 6 homes.

A great part of the money is Chinese money.

Chanel also hopes to train Korean or other Asian consumers to buy Chanel garments.

Korean pop culture has exerting a subtle influence on Asians' aesthetic and consumption.

Last year, Gianna Jun, starring from the stars, led by you.

And Celine sales.

Coach once expressed regret that he did not see the product's implanting of the popular Korean culture's influence on popular culture and brand.

Of course, the influence of Korean culture also has regional advantages.

If LVMH group wants to promote in Greater China, it will often choose to speak from three stars from Taiwan, Hongkong and Mainland China. Korean stars are more recognizable to LVMH than Singapore and Vietnam.

However, for these old luxury goods, they may face similar problems with the Chinese market in the Korean market.

"The Korean luxury market is also changing," said SongJi-hye, partner of Bain consulting. "Korean young consumers prefer new design brands with unique designs."