PROSPECTS AND OPPORTUNITIES
Sustainable luxury and digital innovation expected to drive growth
Personal luxury in South Korea is anticipated to see substantial growth during the forecast period, with retail sales projected to increase at a compound annual growth rate (CAGR) of 4% in current value terms (2% CAGR in constant 2025 value terms). Luxury leather goods is expected to remain the largest category within personal luxury, projected to reach KRW8.
Luxury brands to enhance exclusivity and personalisation strategies
Key players in personal luxury in South Korea, encompassing fashion houses, premium fragrance houses, luxury eyewear manufacturers, and super premium beauty and personal care producers, are poised to prioritise enhancing exclusivity, personalisation, and experiential engagement to captivate luxury shoppers throughout the 2025-2030 period. Growth will be driven by affluent individuals seeking investment-grade and collectible items.
Luxury retailers will drive growth through exclusivity and personalisation
General merchandise stores accounted for 73% of sales in personal luxury in 2025 mainly thanks to department stores. In the forecast period, luxury department stores are poised to further solidify their role as key retail hubs for personal luxury goods, driven by their unique ability to provide a comprehensive luxury shopping experience.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Luxury in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Personal Luxury in South Korea?
- Which are the leading brands in Personal Luxury in South Korea?
- How are products distributed in Personal Luxury in South Korea?
- How important is tourism in evaluating demand for Personal Luxury in South Korea?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Personal Luxury in South Korea - Category analysis
KEY DATA FINDINGS
Designer apparel and footwear (ready-to-wear)
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearables electronics
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
Sustainable luxury and digital innovation expected to drive growth
Luxury brands to enhance exclusivity and personalisation strategies
Luxury retailers will drive growth through exclusivity and personalisation
Luxury Goods in South Korea - Industry Overview
Luxury goods in 2025: The big picture
2025 key trends
Competitive landscape
Retail developments
What next for luxury goods?
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Personal Luxury
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- Men's Designer Apparel
- Women's Designer Apparel
- Designer Childrenswear
- Designer Clothing Accessories and Hosiery
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- Children's Designer Footwear
- Men's Designer Footwear
- Women's Designer Footwear
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- Luxury Spectacle Frames
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- Men's Luxury Sun Glasses
- Women's Luxury Sun Glasses
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- Luxury Costume Jewellery
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- Men's Luxury Fine Jewellery
- Women's Luxury Fine Jewellery
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- Men's Luxury Bags and Small Leather Goods
- Women's Luxury Bags and Small Leather Goods
- Luxury Travel Goods
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- Luxury Wearables Electronics
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- Men's Luxury Timepieces
- Women's Luxury Timepieces
- Luxury Writing Instruments and Stationery
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- Super Premium Colour Cosmetics
- Super Premium Fragrances
- Super Premium Skin Care
- Other Super Premium Beauty and Personal Care
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Personal Luxury research and analysis database.
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