Galleria Duty Free 63 has been officially opened – and it’s offering more than just duty free products.
The new duty free store, located in Seoul’s iconic 63 Building, is operated by Hanwha Galleria, a subsidiary of Hanwha Group. Since its ‘Free Opening’ last December, the store has recorded daily average revenue of between 600 million and 700 million won, which the company expects to reach to 1 billion won (US$880,000) in the third quarter of this year.
But what is most intriguing about the latest duty free branch is its 63 Building-based tourism content that visiting shoppers can take advantage of.
The 63 Building, also owned by Hanwha Group, houses an observation deck overlooking the capital, and 63 Sea World, an aquarium that was recently renovated and renamed to AquaPlanet 63. Galleria Duty Free 63 has incorporated the building’s touristic elements and started operating tourism packages for its shoppers at the beginning of July.
Hanwha Galleria also joined hands with Chinese conglomerate Wanda Group to establish a new marketing partnership. Wanda Group currently has some 120 million subscribers in China, and it will be joining Hanwha Galleria’s marketing campaigns to reshape the store into the next big tourist attraction for Chinese vacationers in Seoul.
“Although the distribution industry has seen better times, we expect Hanwha Galleria to contribute to the Korea tourism industry with its distinctive duty free enterprise,” said Kim Seung-youn, CEO of Hanwha Group, who visited the store on Thursday.
The new store currently features 540 brands, from luxury labels like Gucci, Coach, and Michael Kors, to brands that are exclusive to Galleria Duty Free 63, such as Stefano Ricci and Golden Goose. More brands including Chanel Cosmetics and Bottega Veneta will be joining the branch in coming months.