When it comes to lifestyle, Koreans don’t skimp. According to Morgan Stanley, Korean per capita spend on luxury is the highest in the world at $325, far surpassing China at $55 and the US at $280. In 2022, sales of luxury goods in Korea grew 24% year-on-year to $16.8 Billion.
Some notable luxury brands that performed particularly well with Korean consumers included Moncler, whose sales doubled in Q2 compared to pre-pandemic. Cartier-owned Richemont group also noted Korea sales grew in double digits in 2022.
Luxury brands are also flocking to Coupang with brands such as Nina Ricci, Giambatista Valli and JW Anderson choosing to sell with Korea’s no.1 shopping app. Coupang Marketplace is a terrific choice for anyone interested in selling fashion to Korea as over 58% of Coupang customers purchase fashion items on Coupang. Some of the top selling luxury brands on Coupang Marketplace include Gucci and Prada, especially accessories such as bags, wallets and jewellery.
If you’re curious about how to sell fashion on Coupang, get the lowdown here or download the fashion selling handbook here.
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