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Luxury Goods in South Korea

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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.

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