LUXURY GOODS IN SOUTH KOREA

Euromonitor International

February 2019

LIST OF CONTENTS AND TABLES

Executive Summary

Strong and Steady Domestic Demand Supports Luxury Goods in 2018

Luxury Goods Appeal To Many Consumers

Daimler AG Leads Luxury Goods in 2017

Retailing Disruptors Work As A Blind Spot for Luxury Goods

Retail Value Growth and Government Support Expected

Market Indicators

Table 1 Number of High Net Worth Individuals (HNWI): 2013-2018

Market Data

Table 2 Sales of Luxury Goods by Category: Value 2013-2018

Table 3 Sales of Luxury Goods by Category: % Value Growth 2013-2018

Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018

Table 5 NBO Company Shares of Luxury Goods: % Value 2013-2017

Table 6 LBN Brand Shares of Luxury Goods: % Value 2014-2017

Table 7 Distribution of Luxury Goods by Format and Category: % Value 2018

Table 8 Forecast Sales of Luxury Goods by Category: Value 2018-2023

Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Sources

Summary 1 Research Sources

Headlines

Prospects

Domestic Demand Offsets Loss of Chinese Tourism

Marketing for Young Generation Becomes More Critical

Competitive Landscape

Paradise Group Leads Luxury Hotels in 2017

Shinsegae Group's L'escape Hotel Opens in 2018

Category Data

Table 10 Sales in Luxury Hotels: Value 2013-2018

Table 11 Sales in Luxury Hotels: % Value Growth 2013-2018

Table 12 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017

Table 13 NBO Company Shares in Luxury Hotels: % Value 2013-2017

Table 14 LBN Brand Shares in Luxury Hotels: % Value 2014-2017

Table 15 Forecast Sales in Luxury Hotels: Value 2018-2023

Table 16 Forecast Sales in Luxury Hotels: % Value Growth 2018-2023

Headlines

Prospects

Domestic Sales Limited Due To Duty-free Penetration

Threat From Alternative Products Increases

Competitive Landscape

Two Leading Manufacturers Target Young Generation for Potential Growth

Category Data

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018

Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018

Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017

Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017

Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018

Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023

Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Headlines

Prospects

Luxury Cars in South Korea Show Highly Uniform Trend

Special Consumption Tax Policy Works Benefits Luxury Cars

Setting Up Standards for Electric Cars Remains An Issue

Competitive Landscape

Audi Seeks Recovery After Lengthy Sales Ban

Bmw Facing Significant Sales Drop in 2018

Category Data

Table 24 Sales of Luxury Cars: Value 2013-2018

Table 25 Sales of Luxury Cars: % Value Growth 2013-2018

Table 26 NBO Company Shares of Luxury Cars: % Value 2013-2017

Table 27 LBN Brand Shares of Luxury Cars: % Value 2014-2017

Table 28 Forecast Sales of Luxury Cars: Value 2018-2023

Table 29 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Headlines

Prospects

Personal Luxury Has Room for Domestic Growth

Distribution Landscape Continues To Change

Act on External Audit of Stock Companies Expected To Affect Personal Luxury Manufacturers

Competitive Landscape

Traditional Luxury Brands Stage A Comeback

International Brands Dominate Personal Luxury in South Korea

Category Data

Table 30 Sales of Personal Luxury by Category: Value 2013-2018

Table 31 Sales of Personal Luxury by Category: % Value Growth 2013-2018

Table 32 NBO Company Shares of Personal Luxury: % Value 2013-2017

Table 33 LBN Brand Shares of Personal Luxury: % Value 2014-2017

Table 34 Forecast Sales of Personal Luxury by Category: Value 2018-2023

Table 35 Forecast Sales of Personal Luxury by Category: % Value Growth 2018-2023

Headlines

Prospects

Local Taste More Influential in Designer Apparel and Footwear (ready-to-wear) Than in Other Luxury Categories

Brands Consider Designer Apparel and Footwear (ready-to-wear) Consumers As the True Vip

Competitive Landscape

Goose and Duck Down Becomes A Necessity, With Severe Cold Striking Winter Season

Shut-down of International Luxury Brands

Category Data

Table 36 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2013-2018

Table 37 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2013-2018

Table 38 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2017

Table 39 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2017

Table 40 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2013-2018

Table 41 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2018-2023

Table 42 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2018-2023

Headlines

Prospects

Luxury Eyewear Far From Maturity

Luxury Eyewear Retail Supports Category Growth

Competitive Landscape

International Brands Led Luxury Eyewear While Domestic Brands Started To Shine

New Brands Could Shake Up the Competitive Landscape

Category Data

Table 43 Sales of Luxury Eyewear by Category: Value 2013-2018

Table 44 Sales of Luxury Eyewear by Category: % Value Growth 2013-2018

Table 45 NBO Company Shares of Luxury Eyewear: % Value 2013-2017

Table 46 LBN Brand Shares of Luxury Eyewear: % Value 2014-2017

Table 47 Distribution of Luxury Eyewear by Format: % Value 2013-2018

Table 48 Forecast Sales of Luxury Eyewear by Category: Value 2018-2023

Table 49 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2018-2023

Headlines

Prospects

Wedding Market Continues To Influence the Category

Rising Popularity of Bridge Jewellery A Threat To Luxury Jewellery

Male Consumers Start To Accessorise

Competitive Landscape

Traditional Jewellery Houses Lead the Category

Swarovski Struggles But Remains Among the Leaders in Luxury Jewellery

Category Data

Table 50 Sales of Luxury Jewellery by Category: Value 2013-2018

Table 51 Sales of Luxury Jewellery by Category: % Value Growth 2013-2018

Table 52 NBO Company Shares of Luxury Jewellery: % Value 2013-2017

Table 53 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017

Table 54 Distribution of Luxury Jewellery by Format: % Value 2013-2018

Table 55 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023

Table 56 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2018-2023

Headlines

Prospects

Design-aspect Trend Flows in Two Directions

Distribution Channel Shows Complicated Structure in 2018

Competitive Landscape

Demand for Some Popular Brands Exceeds Supply

Young Generation A Key Consumer Base

Celebrity Marketing Works Its Way Into Luxury Leather Goods

Category Data

Table 57 Sales of Luxury Leather Goods: Value 2013-2018

Table 58 Sales of Luxury Leather Goods: % Value Growth 2013-2018

Table 59 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017

Table 60 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017

Table 61 Distribution of Luxury Leather Goods by Format: % Value 2013-2018

Table 62 Forecast Sales of Luxury Leather Goods: Value 2018-2023

Table 63 Forecast Sales of Luxury Leather Goods: % Value Growth 2018-2023

Prospects

Headlines

Prospects

Growth Steady But Slower As Category Matures

Greater Diversity in Distribution

Competitive Landscape

International Brands Dominant

Concentrated Competitive Landscape

Category Data

Table 64 Sales of Luxury Timepieces by Category: Value 2013-2018

Table 65 Sales of Luxury Timepieces by Category: % Value Growth 2013-2018

Table 66 NBO Company Shares of Luxury Timepieces: % Value 2013-2017

Table 67 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017

Table 68 Distribution of Luxury Timepieces by Format: % Value 2013-2018

Table 69 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023

Table 70 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2018-2023

Headlines

Prospects

Consumer Lifestyle Shift To Affect Luxury Writing Instruments and Stationery

Anti-bribery Legislation Negatively Affects Category

Competitive Landscape

Richemont Korea Ltd Leads Luxury Writing Instruments and Stationery

Category Data

Table 71 Sales of Luxury Writing Instruments and Stationery: Value 2013-2018

Table 72 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2013-2018

Table 73 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2013-2017

Table 74 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2014-2017

Table 75 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2013-2018

Table 76 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2018-2023

Table 77 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2018-2023

Headlines

Prospects

Travel Retail Highly Affects Super Premium Beauty and Personal Care

New Competitor To Add Dynamism To Category

Competitive Landscape

International Manufacturers Dominate in Terms of Number of Brands

Diversity in Super Premium Fragrances Support Consumers' Demand for Glamour

Luxury Brands Trying Out New Strategies in South Korea

Category Data

Table 78 Sales of Super Premium Beauty and Personal Care by Category: Value 2013-2018

Table 79 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2013-2018

Table 80 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2013-2017

Table 81 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2014-2017

Table 82 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2013-2018

Table 83 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2018-2023

Table 84 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2018-2023

Luxury goods registered healthy retail current value growth in 2018, with positive performance in most categories. A difficult year was predicted luxury goods due to political tension between China and South Korea regarding deployment of THAAD (Terminal High Altitude Area Defence). The dispute led to a decrease in the number of inbound Chinese tourists and slightly affected personal luxury. However, in general luxury goods maintained positive growth thanks to strong domestic demand and expenditu...

Euromonitor International's Luxury Goods in South Korea report offers a comprehensive guide to the size and shape of the Luxury Goods 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 Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2023 illustrate how the market is set to change

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Luxury Cars, Personal Luxury.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Luxury Goods 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.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.