A&F's first store will open in the IFC Mall in which Zara and H&M will also open their new gigantic stores. A&F will bring their main brand "Hollister" first, and then launch "A&F". Forever 21 have a plan of opening its second store in Garosu-gil. FYI, Uniqlo Korea's revenue in 2010 was KRW 250 billion (USD 220 million), and the Zara store in COEX earned the most revenue among all the Zara international stores.
USD 4.5 billion is not just a small number we can talk about. South Korea has become a battlefield for the global SPA (Speciality retaller of Private label Apparel) brands to win the money. Uniqlo from Japan in 2006, Forever 21 from USA and Zara from Spain in 2008, and H&M from Sweden in 2010...that was just a beginning. Abercrombie & Fitch (A&F) is looking for a site for their first flagship store, and Topshop is negotiating with Cheil Industries for its launching. The launchings of the SPA brands have been quite successful, so the Korean SPA market is considered to have a growth potential.
A&F's first store will open in the IFC Mall in which Zara and H&M will also open their new gigantic stores. A&F will bring their main brand "Hollister" first, and then launch "A&F". Forever 21 have a plan of opening its second store in Garosu-gil. FYI, Uniqlo Korea's revenue in 2010 was KRW 250 billion (USD 220 million), and the Zara store in COEX earned the most revenue among all the Zara international stores.
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The luxury merchandise group, LVMH group recently purchased two buildings near Cheongdam intersection. The LVMH group has many stores of Christian Dior in department stores in South Korea, but no Dior flagship store yet. And the rumor is that one of the buildings will be surely redesigned for the first Dior flagship store. Cheongdam Boutique Street is a famous destination for label shopping. Near the two buildings, there are flagship stores for Louis Vuitton, Emporio Armani, Gucci, and so many others. Are you getting excited? ;) The number of foreigners in Seoul has increased by 20% during the past 5 years, and the Seoul Global Center is trying to support their business opportunities and daily lives. There are about 20 agents who are ready to help you in seven languages with passport renewal, credit card issuing, and bank account opening, etc. The office is on the 3rd floor of the Press Center in Jung-gu.
The Grand Intercontinental Seoul has changed its name to The Grand Intercontinental Seoul Parnas. Parnas is the name of the hotel company which runs the Intercontinental brand. Also, The COEX intercontinental Seoul has got a new name-The Intercontinental Seoul COEX.
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