"Louis Vuitton to Withdraw from Korean Downtown Duty-Free Shops by March Next Year"

On the 24th, the duty-free shop at Terminal 1 of Incheon International Airport is quiet due to the impact of COVID-19. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Yuri Kim] The French luxury brand Louis Vuitton is reportedly set to close all its downtown duty-free stores in South Korea by March next year.

According to the British duty-free distribution specialist publication Moody David Report on the 17th, Louis Vuitton suspended operations at its Lotte Duty Free Jeju store earlier this month and plans to additionally close its Shilla Duty Free Jeju store, Lotte Duty Free Busan store, and Jamsil World Tower store by March.

It is also reported that Louis Vuitton plans to withdraw all remaining downtown duty-free stores located in Lotte Duty Free, Shilla Duty Free, and Shinsegae Duty Free main stores between October this year and March next year.

Louis Vuitton is said to have made this decision to focus more on airport duty-free stores, especially those at domestic airports in China, rather than downtown duty-free stores. The publication stated, "The Louis Vuitton store at Incheon International Airport Terminal 1 will not be affected by this withdrawal, and Louis Vuitton plans to open a second store at Terminal 2 by next year."