Market Share of South Korea Luxury Goods Industry
The luxury goods market in South Korea is fragmented as both domestic and foreign businesses compete for market share. The companies operating in the South Korean luxury goods market focus on various strategies including partnerships, product launches, expansions, advertising, and promotions featuring popular celebrities to increase their brand presence among customers. For example, in May 2022, to provide a unique and increasingly personalized experience to the brand's audience, Dior unveiled its first WhatsApp campaign in partnership with Jisoo from the popular South Korean girl group Blackpink formed by YG Entertainment. Prada Holding S.p.A., Hermes International S.p.A, LVMH Moët Hennessy Louis Vuitton, Chanel, The Estée Lauder Companies, and Kering Group are a few of the major companies that dominate the South Korea market.
South Korea Luxury Goods Market Leaders
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Prada Holding S.p.A
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LVMH Moet Hennessy Louis Vuitton
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Kering Group (Gucci)
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H & M Hennes & Mauritz AB (H&M)
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The Estee Lauder Companies Inc.
*Disclaimer: Major Players sorted in no particular order
