A Boost For Luxury—And Men—as LVMH's Celine Lands A First In Korean Duty-Free

Forbes

30-04-2025

Celine brand ambassador Dohoon of boy band TWS at the Celine flagship store opening in Seoul in ... More November 2024. (Photo by Han Myung-Gu/WireImage)
Shinsegae Duty Free has opened luxury fashion brand Celine's first dual-gender boutique in South Korea's large, but troubled, duty-free market. The shop is in Terminal 2 of Seoul's Incheon International Airport where Shinsegae also operates boutiques for Bottega Veneta, Hermès, and Louis Vuitton.
LVMH, whose stock has crashed by 22% in the first quarter—with sales at its fashion and leather goods division dropping by 5% to just over €10.11 billion ($11.4 billion)—has been busy trying to revive the division. It is the largest by far, accounting for about 50% of the company's total sales of €20.3 billion ($23 billion) in Q1.
The French luxury conglomerate has taken several actions. Its fêted Louis Vuitton brand has become the title partner of the Australian Grand Prix; Loewe has brought in Jack McCollough and Lazaro Hernandez as creative directors to replace JW Anderson; and at Celine, new creative director Michael Rider will unveil his first collection in July, good timing for Shinsegae's new unit.
The dual-gender Celine concept store is in the duty-free area of Incheon Airport's T2 and, as well as competing with the brands mentioned above, it is also up against other big luxury names. Rival duty-free retailer Hyundai operates boutiques for Balenciaga, Fendi, Gucci, Prada, and Salvatore Ferragamo.
As the Celine store is the first of its kind in South Korea's duty-free market it should attract attention if Shinsegae markets it well. The large unit will sell a wide selection of men's and women's collections in a single, cleanly designed space that aims to showcase the French brand's creative identity.
The men's selection is available to Korean duty-free customers for the first time, and the boutique is also debuting Celine's women's footwear line in the country's duty-free sector.
Last year, Celine—founded in 1945 by fashion designer Céline Vipiana and headquartered in Paris—expanded its Triomphe leather goods line and has successes with its Plein Soleil collection. The brand also launched a new fragrance, Zouzou, and Le Rouge Celine lipstick.
Celine also opened three flagship stores in Osaka, Japan; in Seoul in November where Celine brand ambassador Dohoon of boy band TWS fronted the launch (see main image); and Paris, in 2024. A new flagship store, or rather a change of location, is also planned this year on Via Montenapoleone in Milan, according to LVMH, whose brands have a powerful grip on what is one of the world's most fashionable streets.
Celine's new airport store is the first to host both men's and women's collections in Korean ... More duty-free.
Back in Seoul, Shinsegae Duty Free said of the new dual-gender airport store: 'By housing both men's and women's lines under one roof, it offers travelers a diverse shopping experience, allowing customers to explore Celine's full lifestyle offering in a single destination.'
Inside, shoppers will also find the Celine Art Project, a signature element of the brand's global flagship stores. The Incheon boutique includes works by Korean sculptor Yoonsin Kim and Mexican artist Tania Pérez Córdova, adding some cultural depth to the store.
In line with this approach, Shinsegae Duty Free has also just opened a former landmark bank building in the Myeong-dong shopping district in Seoul, where Chanel takes the limelight at what the retailer hopes will become a luxury destination. Called 'The Heritage' it opened followed a long renovation. Earlier this year the company closed its Busan duty-free store.
In 2024, Shinsegae, the third-biggest duty-free operator in Korea after Hotel Shilla Duty Free and Lotte Duty Free, saw a sales increase of 4.7% to 2,006 billion Korean won ($1.41 billion) despite weak airport sales and a higher rental burden due to a sharp rise in exchange rates. The sales boost was in line with a small rise in the duty-free market overall last year, but since Covid the general trend has been downwards.