Imported designer brands popular among young Korean consumers

2024.05.14 09:27:01 | 2024.05.14 10:37:43

[Courtesy of Shinsegae International Inc.]이미지 확대

[Courtesy of Shinsegae International Inc.]

Imported designer brands that are more affordable than traditional luxury brands are capturing the attention of young fashion lovers in South Korea.

A recent survey conducted by Maeil Business Newspaper showed that sales of new luxury brands at the country’s top three department stores ? Lotte, Shinsegae, and Hyundai ? jumped by 11 percent in the first quarter of this year from the same period a year ago.

“Consumers in their 20s and 30s continue to show high satisfaction toward new luxury brands,” said an industry official. “New luxury goods offer cost-effective style solutions for young consumers keen on expressing their identity through fashion.”

Korean fashion conglomerates are now focusing on introducing new brands.

Shinsegae International Inc., for example, has its attention on Enfold, a Japanese ready-to-wear label founded in 2012 that debuted in Korea in 2022.

[Courtesy of LF]이미지 확대

[Courtesy of LF]

The brand’s sales in Korea soared 155 percent last year from a year ago, with sales in the first quarter of 2024 more than tripling compared to the previous year.

Other notable brands include LVMH‘s emerging label Patou and the Italian luxury designer Forte Forte.

Forte Forte;s sales surged 200 percent last year. The brand plans to open stores in department stores in key areas.

By Kim Hyo-hye, Chung Seul-gi and Han Yubin

[ⓒ Pulse by Maeil Business Newspaper &, All rights reserved]