Burgeoning duty-free retailer Shinsegae opened its second store in downtown Seoul.
As reported, the retailer announced its plans to open the mammoth 13,350sqm outlet in the Central City complex in Seoul’s Gangnam area after being awarded the licence in December 2016. Its opening follows the retailer’s first downtown Seoul store opening in the Myeongdong district in May 2016.
The downtown outlet features both areas dedicated to Korean brands, such as Sulwhasoo and The History of Whoo, and international brands, including Gucci, Estée Lauder and Tiffany & Co, across multiple floor.
The opening comes in the wake of rapid growth from Shinsegae in recent years, with the retailer saying in 2014 it was looking to “aggressively” expand.
Since then Shinsegae has not only opened the Myeongdong downtown store and the new Gangnam outlet in Seoul. The retailer has also secured key retail contracts at Incheon International Airport. In July 2017, it was awarded a fashion contract in terminal two at the airport and the retailer has this month taken on both the concessions vacated by Lotte in terminal one at the airport.