April 20, 2024

• 

[THE INVESTOR] Kering Chairman and CEO François-Henri Pinault is visiting Seoul this week to meet heads of local retail giants. 

According to industry sources on Dec. 9, the chairman had meetings with Lotte Chairman Shin Dong-bin and Shinsegae President Chung Yoo-kyung. He is also likely to meet Hotel Shilla President Lee Boo-jin, the eldest daughter of Samsung Electronics Chairman Lee Kun-hee. 
 

Kering Chairman François-Henri Pinault

Kering is the French luxury goods holding company that owns Gucci, Bottega Veneta, Balenciaga, Saint Laurent Paris, Brioni and other luxury, sport and lifestyle brands distributed in 120 countries.

The high-profile visit comes before the government grants new duty-free business licenses to local retailers on Dec. 17. Even though hosting a renowned fashion house is considered a key to winning the bid, sources said the visit seems unlikely to be related to the planned bidding considering related documents should have been submitted by the Oct. 5 deadline. 

Korea is one of the biggest markets for luxury goods esepcially due to a surge in Chinese inbound tourists.

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