Plus, what can (and should) brands do with excess inventory?
Plus, what it means to be furloughed when you work in retail.
SEOUL--Seoul is a powerful and wealthy mega-city with a large consumer base--that means there's a huge appetite for branded luxury goods. The city's Cheongdam-dong, a 12-lane wide boulevard, is lined with so many luxury shops that it's earned nickname ‘Street of Luxury Goods.’ The 10 Corso Como on Cheongdam-dong, which opened in 2008 in partnership with Samsung Cheil (the Samsung Fashion Group), is even larger than the Milan flagship. Due to high demand for avant-garde fashion, a second 10 Corso Como opened just last month at the high-end mall Lotte Avenuel, joining Prada, Givenchy, Dior, Yves Saint Laurent, Lanvin and more. Despite the obvious appetite for luxury designs, there seems to be an absence of good risk-taking design in Seoul.