[THE INVESTOR] Hanwha Galleria held a grand opening for its duty-free store in Yeouido, Seoul, on July 15. Although it was open to public since December last year, Galleria Duty Free 63 marked its official launch with a ceremony attended by the group chairman Kim Seung-youn.

Boasting a prime location in the group’s 63 Building, the store seeks to attract tourists who will not only be able to shop more than 540 domestic and international brands but also enjoy the view of Seoul at the observatory and experience sea life in the city at the newly renovated aquarium, Aquaplanet 63, all without leaving the building. The group is planning to add K-culture zone in the annex of the building in partnership with KBS.

 

In addition to duty-free regulars including Gucci, Ermenegildo Zegna, Coach and Longchamp, the duty-free store succeeded in bringing in Golden Goose, a first for the industry in Korea. It will add the cosmetics line of Chanel, Bottega Veneta and Balenciaga in the coming months.

Since the soft opening, the duty-free store has posted 600 million won (US$530,110) to 700 million won in daily sales, and the turnover is expected to rise over 1 billion won within the third quarter, according to Galleria Duty Free 63.

Hanwha has signed a marketing partnership agreement with China’s Wanda Group through which it will carry out joint campaign on Chinese holidays targeting more than 120 million members of the distribution company.

To further expand its presence in China, the group has established an office in Shanghai earlier this month and will set up more in Beijing and Shenyang next month.

By Hwang You-mee (glamazon@heraldcorp.com)