Shinsegae, Second Duty-Free Stock Sale... 20% Sold Out in One Hour

Ferragamo Shoes and Bags 'Popular'

Salvatore Ferragamo 'Women's Flat Jelly Shoes'. Photo by SI website capture

[Asia Economy Reporter Cha Min-young] Shinsegae Duty Free's second round of duty-free inventory sales reached a sell-out rate close to 20% in less than an hour after opening.

A Shinsegae International official stated on the 22nd, "Among the four participating brands, Ferragamo seems to be the most popular," adding, "Unlike the first round on the 3rd, which consisted only of luxury brands, the inclusion of masstige brands this time still resulted in a sell-out rate of 20%, which we view positively for the initial atmosphere."

Shinsegae Duty Free is conducting a seven-day second round of duty-free inventory sales from 10 a.m. on the 22nd until the 28th on Shinsegae International's official online mall 'SI Village' website. The volume for the second sale is estimated to be about 4 billion KRW, similar to the first round. The brands include Ferragamo, Jimmy Choo, Tumi, and Marc Jacobs, totaling around 280 items. Among these, footwear such as women's high heels, men's driving shoes, men's loafers, and unisex sneakers account for more than half (53%), with the remainder consisting of bags and leather goods. Discounts have been increased up to 60%.

As of 11 a.m., popular items include Ferragamo's 'Amy Tote Bag Medium Indian Pink,' Ferragamo's 'Women's Flat Jelly Shoes,' and Marc Jacobs' 'The Quilted Softshot 21 Camera Bag.' All colors of the jelly shoes?black, pink, and light pink?have sold out.

Meanwhile, Lotte Duty Free, taking over this week, will offer about 20 billion KRW worth of products combining online and offline sales. Starting on the 23rd, over 50 overseas luxury brands will be sold first on the integrated online mall 'Lotte On.' Under the theme 'Mind Quarantine Luxury Sale,' duty-free products will be offered at prices up to 60% cheaper than market prices. Online sales will be divided into pre-orders and immediate purchases. Additionally, 0.5% of online sales will be donated to medical staff, reflecting a spirit of coexistence. Sales at Lotte Department Store and outlets will begin on the 26th.

Shilla Duty Free is also expected to present nearly 20 billion KRW worth of products. This week, about 40 brands will be showcased through 'Shilla Trip,' Shilla Internet Duty Free's travel product brokerage platform. Imported luxury brands such as Prada, Balenciaga, and Moncler, masstige brands like Tumi, Tory Burch, and Michael Kors, as well as contemporary brands including Maison Margiela, Ami, Marni, and Off-White will be featured. Fashion accessories including bags and sunglasses will mainly be sold at an average discount of 30-50% compared to department store regular prices. Using Shilla Internet Duty Free's own simple payment system 'Shilla Pay' allows immediate discounts on part of the payment amount, and points can also be accumulated with 'S Rewards,' which can be used like cash.

This content was produced with the assistance of AI translation services.