Lotte Department Store Holds Overseas Luxury Season Off... Up to 50% Discount

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[Asia Economy Reporter Seungjin Lee] Lotte Department Store will begin its overseas luxury brand season-off sale starting from the 15th.

This season-off event features over 90 brands, about 10 more than last year, including Thom Browne, Maison Margiela, Loro Piana, Kenzo, Coach, MSGM, and Golden Goose, offering discounts ranging from a minimum of 20% up to 50%.

Starting on the 15th, brands such as Kenzo, Coach, and Versace will kick off the sale, followed by Burberry from the 19th, and subsequently Maison Margiela, Off-White, MSGM, Vivienne Westwood, Thom Browne, and Loro Piana will enter the season-off sequentially through June.

Discount rates for representative brands participating in the overseas luxury season-off include Coach at 30-50%, Etro at 30-40%, Emporio Armani at 30%, and Versace at 50%, with each brand offering discounts ranging from 20% to 50%.

Alongside this overseas luxury season-off event, until the 27th, Lotte Department Store’s main branch, Jamsil branch, Daegu branch, and Busan main branch will also host the ‘Luxury Watch & Jewelry Fair,’ where customers can view new products and limited editions of overseas luxury watches and jewelry all in one place.

At the main branch and Jamsil AvenueL World Tower branch, overseas luxury watch brands such as Jaeger-LeCoultre, IWC, and Hublot will showcase masterpieces that combine advanced watchmaking technology, including limited edition products produced worldwide exclusively for this event.

At Daegu branch’s Time Valley, customers can see rare items usually not available in stores, such as the ‘Drive de Cartier Flying Tourbillon’ and the ‘Piaget Emperador Cushion’ watch set with a total of 300 diamonds.

‘Breguet,’ a luxury watch brand that opened for the first time in the region at the Busan main branch AvenueL Hall in March, will unveil not only the specially made ‘Classic Hora Mundi 5717 Busan Limited Edition’ watch commemorating the opening but also products of which only one piece has been brought into Korea.

Meanwhile, despite an overall sales growth rate decrease of 15.8% compared to the previous year during Lotte Department Store’s April sale period (April 3-19), overseas luxury brands grew by 8%. During the same period, overseas luxury brands recorded steady high growth rates despite the economic downturn, with 18.5% growth in 2018 and 28.0% in 2019.

Kim Hyera, head of Lotte Department Store’s overseas fashion division, said, "Due to COVID-19, we regretted not being able to welcome customers freely to our stores, so we decided to start this overseas luxury season-off about a week earlier than last year. It will be a great shopping opportunity to experience and purchase high-quality luxury goods at reasonable prices."

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