Personal Luxury in South Korea
In 2024, retail value sales of designer apparel and footwear (ready-to-wear) rose by 5% to stand at KRW5.7 trillion. Sales are driven by designer apparel (ready-to-wear), specifically women's apparel, while men's designer apparel saw standout growth of 7%. Retail value sales received a boost from inflation, while wealthier consumers continued to desire designer apparel and footwear that represents quality, in addition to status. 13 million units were sold in 2024, in comparison with just 11 mill...
Euromonitor International's Personal Luxury in South Korea report offers a comprehensive guide to the size and shape of the Personal Luxury market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Personal Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change
Product coverage: Designer Apparel and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Leather Goods, Luxury Timepieces, Luxury Wearables Electronics, Luxury Writing Instruments and Stationery, Super Premium Beauty and Personal Care.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
Euromonitor International's Personal Luxury in South Korea report offers a comprehensive guide to the size and shape of the Personal Luxury market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Personal Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change
Product coverage: Designer Apparel and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Leather Goods, Luxury Timepieces, Luxury Wearables Electronics, Luxury Writing Instruments and Stationery, Super Premium Beauty and Personal Care.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Personal Luxury market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Personal Luxury in South Korea
Euromonitor International
October 2024
LIST OF CONTENTS AND TABLES
PERSONAL LUXURY IN SOUTH KOREA
KEY DATA FINDINGS
2024 DEVELOPMENTS
Designer apparel brands launch projects and concept stores aligned with South Korean culture
Luxury eyewear gains ground as brands invest in cutting-edge technology
Luxury jewellery players engage local influencers to boost sales in South Korea
Luxury leather goods focus on sustainable attributes to engage consumers
Luxury wearables offer consumers cutting-edge technology with timeless design
Consumers consider luxury timepieces to be a strong investment opportunity
Luxury writing instruments see sales fall, while leading brands offer customisation
Super premium beauty and personal care is led by South Korean brands
PROSPECTS AND OPPORTUNITIES
Value sales rise as luxury leather goods drive sales through exclusivity and scarcity
Sustainable strategies increase as brands align with consumers' rising concerns
Brands invest in augmented reality to boost sales of products through e-commerce
CATEGORY DATA
Table 1 Sales of Personal Luxury by Category: Value 2019-2024
Table 2 Sales of Personal Luxury by Category: % Value Growth 2019-2024
Table 3 NBO Company Shares of Personal Luxury: % Value 2019-2023
Table 4 LBN Brand Shares of Personal Luxury: % Value 2020-2023
Table 5 Distribution of Personal Luxury by Format: % Value 2019-2024
Table 6 Forecast Sales of Personal Luxury by Category: Value 2024-2029
Table 7 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029
LUXURY GOODS IN SOUTH KOREA
EXECUTIVE SUMMARY
Luxury goods in 2024: The big picture
2024 KEY TRENDS
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 8 Sales of Luxury Goods by Category: Value 2019-2024
Table 9 Sales of Luxury Goods by Category: % Value Growth 2019-2024
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
Table 11 NBO Company Shares of Luxury Goods: % Value 2019-2023
Table 12 LBN Brand Shares of Luxury Goods: % Value 2020-2023
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2024
Table 14 Forecast Sales of Luxury Goods by Category: Value 2024-2029
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
Summary 1 Research Sources
Euromonitor International
October 2024
LIST OF CONTENTS AND TABLES
PERSONAL LUXURY IN SOUTH KOREA
KEY DATA FINDINGS
2024 DEVELOPMENTS
Designer apparel brands launch projects and concept stores aligned with South Korean culture
Luxury eyewear gains ground as brands invest in cutting-edge technology
Luxury jewellery players engage local influencers to boost sales in South Korea
Luxury leather goods focus on sustainable attributes to engage consumers
Luxury wearables offer consumers cutting-edge technology with timeless design
Consumers consider luxury timepieces to be a strong investment opportunity
Luxury writing instruments see sales fall, while leading brands offer customisation
Super premium beauty and personal care is led by South Korean brands
PROSPECTS AND OPPORTUNITIES
Value sales rise as luxury leather goods drive sales through exclusivity and scarcity
Sustainable strategies increase as brands align with consumers' rising concerns
Brands invest in augmented reality to boost sales of products through e-commerce
CATEGORY DATA
Table 1 Sales of Personal Luxury by Category: Value 2019-2024
Table 2 Sales of Personal Luxury by Category: % Value Growth 2019-2024
Table 3 NBO Company Shares of Personal Luxury: % Value 2019-2023
Table 4 LBN Brand Shares of Personal Luxury: % Value 2020-2023
Table 5 Distribution of Personal Luxury by Format: % Value 2019-2024
Table 6 Forecast Sales of Personal Luxury by Category: Value 2024-2029
Table 7 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029
LUXURY GOODS IN SOUTH KOREA
EXECUTIVE SUMMARY
Luxury goods in 2024: The big picture
2024 KEY TRENDS
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 8 Sales of Luxury Goods by Category: Value 2019-2024
Table 9 Sales of Luxury Goods by Category: % Value Growth 2019-2024
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
Table 11 NBO Company Shares of Luxury Goods: % Value 2019-2023
Table 12 LBN Brand Shares of Luxury Goods: % Value 2020-2023
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2024
Table 14 Forecast Sales of Luxury Goods by Category: Value 2024-2029
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
Summary 1 Research Sources
