(Photo=Lotte Shopping)

[Alpha Biz= Reporter Kim Sangjin] Last month, the Italian luxury jewelry brand Bulgari withdrew from Lotte Department Store in Daegu. Following Gucci's departure at the end of last year, Bulgari's exit marks another significant loss of luxury brands from the Daegu store, which is expected to impact sales.

According to Lotte Department Store on the 9th, Bulgari, a luxury jewelry brand under the LVMH group, withdrew from Lotte Department Store in Daegu on the 28th of last month.

Bulgari, one of the world's top three jewelry brands, has a total of 16 stores in South Korea, including branches in Lotte, Shinsegae, and Hyundai Department Stores. With Bulgari's withdrawal from Lotte Department Store in Daegu, the only remaining Bulgari store in Daegu is now located in Shinsegae Department Store.

Major luxury brands have been sequentially withdrawing from Lotte Department Store in Daegu. In December last year, the Italian luxury brand Gucci departed due to contract expiration. Previously, Chanel withdrew in 2015, followed by Louis Vuitton and Rolex in 2018. Currently, Daegu's Lotte Department Store hosts luxury brands such as Prada, Burberry, Saint Laurent, Ferragamo, and Valentino.

 

 

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