Lukfook debuts in Korea
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Hong Kong jeweller Luk Fook has opened its first store in Korea.
The store is within the Walkerhill Duty Free complex in the downtown Seoul suburb of Gwangjin‐gu and targets tourists.
Wong Wai Sheung, Lufook Group chairman and CEO, said the group will continue to provide quality jewellery products and professional services for Korean and global customers.
“Adhering to our corporate vision of ‘Brand of Hong Kong, Sparkling the World’, the group has been expanding overseas markets to explore business opportunities. Currently, the group has over 1390 shops in Hong Kong, Macau, mainland China, Singapore, the US, Canada and Australia.
“Following the opening of our first retail outlet in Korea, our retail network now covers eight countries and regions, which will broaden the customer base and further build the brand in the international market.”
According to data from the Korea Tourism Organization, the number of Chinese tourists visiting Korea reached approximately 5.7 million by the end of November last year, accounting for more than 43 per cent of the total number of travellers visiting Korea, and double the number of five years ago.
Eyeing the strong purchasing power of Chinese tourists, the group plans to open another outlet in Korea to capture the market potential.
Questions & Answers
Q.Where is Luk Fook's first store in Korea located?
Where is Luk Fook's first store in Korea located?
The new store is situated within the Walkerhill Duty Free complex. This complex is located in the downtown Seoul suburb of Gwangjin-gu, targeting tourists who visit the area for shopping.
Q.What is the primary target market for Luk Fook's new store in Korea?
What is the primary target market for Luk Fook's new store in Korea?
The store specifically targets tourists visiting Korea. The group is particularly interested in Chinese tourists, who show strong purchasing power and constitute a significant portion of visitors to the country.
Q.How many countries does Luk Fook's retail network now cover after this opening?
How many countries does Luk Fook's retail network now cover after this opening?
Following the opening of this new outlet in Korea, Luk Fook's retail network now extends to eight countries and regions. This expansion aims to broaden their customer base internationally.
Q.Why does Luk Fook plan to open another store in Korea?
Why does Luk Fook plan to open another store in Korea?
The group intends to open a second store to capitalise on the market potential. This decision is influenced by the strong purchasing power of Chinese tourists visiting Korea, as highlighted by recent tourism data.
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