Hyundai, Bluebell ink deal over big brands

Hyundai Department Store announced Tuesday that it signed a deal with Bluebell Korea, the distributor of 47 luxury brands including Louis Vuitton, Dior and Marc Jacobs, to be a supplier if Hyundai gets a government license for a duty-free store.

New duty-free shops struggle to make deals with luxury brands, but Hyundai’s duty-free operation has managed to get letters of intent from 188 other luxury brands.

“As soon as it acquires a license, we are planning to set up stores such as Louis Vuitton and others inside the Hyundai duty-free shop and further collaborate with the Louis Vuitton Moet Hennessy Group for the plan,” Bluebell Korea said.

The Hyundai duty-free shop will also try to hire professionals to manage the luxury brands.

“We’re seeking to build a cooperative system with the Luxury Business Institute, which specializes in training employees for global brands such as Louis Vuitton and Dior,” the company said. The institute, founded by Bluebell Korea in 2009, is the first luxury brand training institute established in Asia.

“My goal is to make the best of this new duty-free shop with my 30 years of management knowledge,” said Lee Dong-ho, president of Hyundai’s duty-free operation. “The store will not only sell luxury brands but provide domestic products and content associated with Hallyu [Korean pop culture].”

The government’s decision on duty-free licenses is expected to come out on Dec. 27.

BY HUR JEONG-YEON [ebusiness@joongang.co.kr]