Fashion
Korean department retailer Hanwha Galleria is to partially open its first duty-free store at the 63 City Building in downtown Seoul next week, Hanwha Galleria Duty Free merchandising division representative Ji Su Kim told DFNIonline.
Kim, was unable to reveal further details, but a YonHap News Agency report indicated Hanwha Galleria plans to open 60% of the proposed space in the gold-tinted skyscraper, one of Seoul’s best known landmarks in Yeouido on December 28. Hanwha Galleria and HDC Shilla Duty Free, a joint-venture between Hotel Shilla and Hyundai Development Co were awarded the main downtown duty-free licences in Seoul by the Korea Customs Service in July following a hotly contested tender.
The report said the pre-opening would showcase 369 brands, including cosmetics, watches and jewellery with nearly half of them Korean brands. The new duty-free shopping space will be located in the first lower level floor of the main 63 building and floors one to three of the annex building. With a total floor area of 10,072sq m, shoppers will have a one-stop experience in a modern and comfortable space, according to the company.
Once the entire store is complete, it is hoped the luxury boutiques and cosmetics stores in the first lower level floor and the watches and jewellery section of the first floor will feature global luxury brands. The second floor will be filled with Korean cosmetics brands showcasing the best of “K-beauty”. This floor will also feature sections for fashion, accessories, tobacco and liquor. The third floor will be home to “K-Special Hall”, an exclusive concept to Galleria Duty Free. This unites more than 100 of Korea’s top brands and small and medium-sized enterprises.
Shoppers looking to take a break from shopping can enjoy views of the Han River at “Studio Rue”, a media complex café located on the fourth floor, and browse a selection of Hallyu content products and purchase refreshments.
Meanwhile, Hanwha Galleria, whose Hanwha Timeworld subsidiary runs the duty-free concession at Jeju International airport, is believed to have made little progress in terms of attracting global luxury brands.
Hanwha Galleria CEO Hwang Yong-deuk said during a briefing. “Although we want to have luxury brands in the stores they are not yet considering opening new shops, thinking they have enough shops in South Korea.”
The company added it would continue negotiations to house global brands when the Lotte World Tower store closes this month after the Korean powerhouse lost its licence to travel-retail newcomer Doosan Group.
It also vowed to continue expanding its duty-free business and revealed it is targeting sales of $429.6m million in the new store next year.
Stay close to DFNIonline and future editions of DFNI for more on the Hanwha Galleria duty-free expansion project.
