Hong Kong jeweller Luk Fook has opened its first store in Korea.
The store is within the Walkerhill Duty Free complex in the downtown Seoul suburb of Gwangjin‐gu and targets tourists.
Wong Wai Sheung, Lufook Group chairman and CEO, said the group will continue to provide quality jewellery products and professional services for Korean and global customers.
“Adhering to our corporate vision of ‘Brand of Hong Kong, Sparkling the World’, the group has been expanding overseas markets to explore business opportunities. Currently, the group has over 1390 shops in Hong Kong, Macau, mainland China, Singapore, the US, Canada and Australia.
“Following the opening of our first retail outlet in Korea, our retail network now covers eight countries and regions, which will broaden the customer base and further build the brand in the international market.”
According to data from the Korea Tourism Organization, the number of Chinese tourists visiting Korea reached approximately 5.7 million by the end of November last year, accounting for more than 43 per cent of the total number of travellers visiting Korea, and double the number of five years ago.
Eyeing the strong purchasing power of Chinese tourists, the group plans to open another outlet in Korea to capture the market potential.