Poirot Opens Store at Shinsegae Department Store Gangnam... Targeting 2030 Customers

[Asia Economy Reporter Seungjin Lee] Shinsegae International announced on the 1st that it has opened a Poiret store, a top-tier luxury cosmetics brand, on the first floor of Shinsegae Department Store Gangnam branch. This is the second store following the Shinsegae Department Store main branch.

Poiret, launched in March this year, is Shinsegae International’s own cosmetics brand introduced after acquiring the 100-year-old French brand "Paul Poiret" with the determination to create a global luxury brand. It modernly reinterprets the spirit, heritage, and tradition of Paul Poiret, and developed products in collaboration with top partners in each field to realize quality befitting a luxury brand.

Shinsegae International put great effort into the Poiret store at Shinsegae Gangnam, the top domestic sales location, to compete head-to-head with renowned overseas luxury brands.

As a brand born from a historic French fashion house, the focus was on creating a luxurious interior that arouses curiosity about the brand. Especially, Shinsegae Gangnam has many customers in their 20s and 30s who have emerged as major luxury consumers, so it is expected to capture both brand awareness and sales. The 20s and 30s age group is the core customer base of Poiret.

Through its first store, Poiret glimpsed the potential of MZ generation (Millennials + Generation Z) customers. The store located in the Shinsegae main branch is achieving 160% of its sales target, with customers in their 20s and 30s accounting for more than 50% of total sales. This directly benefits from the MZ generation’s preference for luxury goods.

The most popular product among the MZ generation is the foundation balm compact "M?tier de Poiret Le Pacte Cr?me," which features a clutch bag form with a luxurious gold tone and a unique texture resembling leather, capturing the tastes of young consumers seeking new luxury items.

After raising brand awareness through Shinsegae Gangnam, Poiret plans to expand its presence in the domestic luxury cosmetics market by opening an additional store around the end of the year at Shinsegae Centum City, a key commercial district in Busan.

A Poiret official from Shinsegae International said, “The firm brand philosophy and the luxurious feel of the products have succeeded in capturing the hearts of affluent consumers looking for new and distinctive luxury goods,” adding, “We are making thorough preparations for global expansion by using Korea as a testbed.”

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