By
Bloomberg
Published
September 25, 2025
LVMH is increasing its expansion in South Korea, with the luxury conglomerate that seeks to diversify its global footprint amid geopolitical and economic uncertainties that are cloudying the perspectives of consumer expenses in the United States and China.
The two largest fashion labels in the group, Louis Vuitton and Christian Dior, plan to expand their emblematic Maison style stores in the Seoul Cheongdam district in the coming years, according to people familiar with the matter who asked not to be identified discussing private deliberations. Dior's renewal can take place in 2027 and a permanent restaurant is expected to present, according to the report.
According to the reports, Bulgari of LVMH Moët Hennessy Louis Vuitton is Bulgari is looking at its first flagship location in South Korea, since the group strengthens its regional presence. Meanwhile, Tiffany & Co. is expected to open a flagship store in the Seoul Cheongdam district in 2027, according to the same sources.
A LVMH representative did not respond to a request for comments.
The lasting love of the South Koreans for luxury, combined with a resistant economy and a growing consumer confidence, has turned the country into a brilliant point for the best names in the industry in the midst of an increasingly uncertain global retail panorama. Louis Vuitton, Hermès and Chanel registered almost 10% growth in their combined sales in the country last year, reaching $ 3.3 billion, according to government data.
Beyond national buyers, an increase in visitors, mainly from China and Japan, along with the weakest Won, has further increased sales. The tourist spending increased by approximately one third to a record of 9.26 billion billions ($ 6.6 billion) last year, according to Korea Herald.
At the same time, the China Premium goods market was reduced more in a decade last year, while import tariffs in the United States have led fashion houses to increase prices, which could boost rich buyers to buy luxury items abroad. Even Japan, where a weak yen had fed an boom in luxury spending, now shows signs of a slowdown.
LVMH, founded by billionaire Bernard Arnault, has already been expanding its presence in South Korea. Celine opened her first boutique there in December last year, and Fendi launched her first flagship in 2023.
Other luxury groups are also betting on the South Korean market. Cie Finière Richemont SA, who saw that his sales increased 20% in the country for the financial year that ended in March, opened a new flagship for Swiss watchmaker Vacheron Constantin in Seoul in June. The store has Korean works of art, a digital archive, a private living room and a dedicated space for exhibitions and events. Hermès also moved and expanded her flagship in the capital, reopening the location in August.
