The Hyundai Seoul adds a touch of luxury with Louis Vuitton store

The Hyundai Seoul's Louis Vuitton store which opened on Thursday [HYUNDAI DEPARTMENT STORE GROUP]

The Hyundai Seoul department store in Yeouido, western Seoul, opened a Louis Vuitton store, marking its first inclusion of one of the top three luxury brands — Hermès, Louis Vuitton, and Chanel.

Bringing the French luxury brand to The Hyundai Seoul is expected to address the absence of high-end brands, enhancing its appeal from its standing as a go-to destination for millennials and Gen Z while expanding to high-spending clientele.

The Hyundai Seoul becomes fastest store to hit 1 trillion won milestone

“It's the first time in six years Louis Vuitton unveils a store selling all ranges of women's products [in Korea] including clothing, bags, shoes, jewelry, and accessories,” an official from the Hyundai Department Store Group said. “The branch plans to enhance the product lineup targeting young customers to create synergies with the 'MZ hot spot' at The Hyundai Seoul.”

Sources in the industry suggest that products tailored for the so-called MZ customers are expected to incorporate slightly more affordable items, including Louis Vuitton's travel essentials and interior accessories available only at The Hyundai Seoul branch.

Situated on the grand floor, the new Louis Vuitton store also features an inside view of The Hyundai Seoul's iconic 12-meter-high artificial waterfall.

This move is expected to boost the department store's revenue faster.

The Hyundai Seoul reported a total sales figure of 1 trillion and 4 billion won from Jan. 1 to Dec. 2, reaching the annual sales of 1 trillion won milestone in a record-breaking 33 months since its opening on Feb. 26, 2021 — setting a benchmark among department stores in Korea.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]