'Luxury President' LVMH Chairman Returns to Korea After 3 Years...To Visit Shinsegae Main Store

Chairman Arnault to Visit Shinsegae Main Store on May 11
World's Largest Six-Story 'Louis Vuitton' Store

Bernard Arnault, Chairman and CEO of Louis Vuitton Moet Hennessy (LVMH), will visit Korea for the first time in three years.

Bernard Arnault, Chairman and CEO of the global luxury group Louis Vuitton Moet Hennessy (LVMH). Photo by Yonhap News Agency

According to the retail industry on May 9, Chairman Arnault is expected to visit The Reserve at the Shinsegae Department Store main branch in Sogong-dong, Seoul, on May 11 to tour the 'Louis Vuitton Visionary Journey Seoul' store, which opened in December last year.

'Louis Vuitton Visionary Journey Seoul' is the largest Louis Vuitton store in the world, spanning six floors and offering an immersive space that showcases the brand's products, history, culture, and craftsmanship. It also features a restaurant and a cafe.

Since May 11 falls on the Shinsegae Department Store's regular closing day, Chairman Arnault is expected to tour the store in a quieter environment and review the operations and status with internal staff.

This visit is seen as part of efforts to directly check on the status of major domestic retail channels and stores, as the importance of the Korean market in the luxury sector is rising. Louis Vuitton Korea, the local subsidiary, recorded an all-time high revenue of 1.8543 trillion won in Korea last year, which marks an increase of about 6.1% year-on-year.

In addition to Louis Vuitton, Hermès and Chanel also posted record results last year, continuing their growth trends. Despite price hikes for high-end products, consumption has remained strong, and a solid base of VIP customers has helped major luxury brands maintain their performance.

Korea serves as a strategic base for global luxury brands, acting as a test market for new products and services thanks to rapidly changing consumption trends and a high level of brand loyalty. Accordingly, the industry expects that Chairman Arnault's visit to Korea will likely focus on reviewing the market and discussing major business strategies.

Chairman Arnault and his party are expected to visit this store first, followed by visits to the Lotte Main Store, Lotte Jamsil Store, and Shinsegae Gangnam Store. During his previous visit to Korea in March 2023—nearly three years ago—Arnault met with Shin Dong-bin, Chairman of Lotte Group; Chung Ji-sun, Chairman of Hyundai Department Store Group; Hong Ra-hee, former Director of Leeum Museum of Art; and Lee Boo-jin, President of Hotel Shilla. There is growing interest in whether he will also meet with leaders in business and retail circles during this visit.

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