Luxury Brands Race to Open Flagship Stores on Cheongdam-dong’s High-End Street
Creatrip Team
20 days ago
Global luxury brands are opening large standalone flagship stores along Cheongdam-dong, a premier luxury shopping street in Seoul’s Gangnam district. Bottega Veneta will open its first Korea standalone store next year in a six-story building (3197.8㎡), while nearby projects include Polo Ralph Lauren, Tiffany (7 floors, 3655.5㎡), and Rolex. Cheongdam-dong has been Korea’s luxury retail hub since the 1990s and has expanded from bags to apparel, shoes, high jewelry, and watches. Rapid growth in Korea’s luxury market (projected to reach about 21.1 trillion KRW by 2025) and strong sales gains for brands such as Tiffany, Rolex, and Prada have driven the shift toward street-facing flagship stores, which better convey brand image than department stores. Increased foreign tourist spending—helped by currency shifts and medical tourism draws—has further boosted the district’s appeal.
