Fashion company Shinwon has secured an exclusive right to distribute Italian luxury fashion label GCDS’s products in South Korea. 

Under the partnership, Shinwon will open GCDS physical stores next year. The deal follows GCDS’s exclusive distribution agreement with Italian luxury menswear brand Canali earlier this year. 

Shinwon manages seven in-house women’s and men’s wear brands, including Besti Belli, Si, Viki, Isabey, Sieg and Fahrenheit. 

Founded in 2015 by brothers Giuliano and Giordano Calza in Milan, GCDS operates retail stores, including 14 boutiques and more than 250 select shops, across Europe and Asia.

Last week, Hyundai Department Store Group’s fashion arm, Handsome Corp, secured an exclusive licensing agreement to distribute US lifestyle and fashion brand Kith’s products in South Korea. The company will open Kith South Korea’s first store in Seoul’s Seongsu-dong district in the first half of next year.

Morgan Stanley estimates South Korean spending on personal luxury goods increased 24 per cent last year to US$16.8 billion last year, becoming the world’s biggest spenders on personal luxury goods per capita.