'Bulgari Men' Exclusive Store Added to Existing Men's Clothing Floor
Domestic First High Jewelry Store 'Buccellati' Newly Opened
[Asia Economy Reporter Yuri Kim] Galleria Department Store announced on the 1st that it will carry out a store renovation for the luxury hall's '2021 Spring·Summer (SS) Season.'
A Bulgari men's exclusive store will open on the 4th floor of the West building's men's clothing section, along with high-end watch and jewelry stores. Interior construction for the related stores is currently underway, with completion scheduled for April.
In the case of Bulgari, this is the first men's exclusive store to be introduced in Korea. It will showcase a wide range of jewelry and watches for men, as well as unisex jewelry products. Besides the new Bulgari store, luxury watch brands such as TAG Heuer and Breitling will be featured on the West 4th floor.
These watch brands were previously located in the High Jewelry & Watch Zone, which combined luxury watches and jewelry in one place, but with this renovation, they will move to the men's clothing floor. Galleria stated that this relocation aims to enhance purchasing accessibility for the MZ generation (Millennials and Generation Z), who are buying luxury watches for the first time.
Next month, a Prada men's exclusive store will also open on the West 4th floor. Since Raf Simons, the first designer hired externally after Prada's establishment, will launch his first men's line this year, the department store expects it to attract significant attention from men who prefer luxury goods.
Last year, Galleria Department Store's luxury product category (luxury accessories 29%, luxury men's 18%, luxury women's 9%) grew by 24%, driving sales growth. Luxury men's products recorded a growth rate twice as high as luxury women's products, demonstrating the continuous increase in men's demand for luxury goods. Galleria said that to meet this growing demand among men, it is attempting to combine luxury watch and jewelry stores on the men's clothing floor for the first time since the luxury hall opened.
Meanwhile, existing high jewelry will also be strengthened. In April, the Italian high jewelry brand Buccellati will open in the luxury hall for the first time in Korea. Buccellati is a brand with a 100-year history, known for its elegant colored gemstones. Additionally, among luxury brands, Chanel's store was renewed and reopened in February, and Dior will present a pop-up store focused on summer products until April 25.
Along with this store renovation, Galleria identified the luxury bag trend for this year as 'Big or Mini (large or small).' Galleria expects big-sized bags, which can hold enough items for a day trip, to gain popularity by offering various materials and shapes. For mini sizes, ultra-mini bags, which are much smaller than existing mini sizes, are expected to be popular. These are so small and cute that they look like accessories such as rings or bracelets when worn, and some products are released in sizes as small as parts of a belt.
A Galleria official said, "Despite the variable of COVID-19 last year, the luxury market grew significantly centered on the MZ generation," adding, "We will strengthen Galleria's unique luxury lineup between the rarity and scalability of luxury brands."
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