💰 Kurly’s Luxury Move
Kurly entered the luxury space in Dec 2024, offering 990 products. The lineup includes Celine, Louis Vuitton, and Bottega Veneta. Kurly does not hold inventory but connects customers with sellers. The move tests demand for luxury beyond food and cosmetics.
🛍️ A Wider Market Trend
Kurly is not alone—Coupang, Naver, Lotte On, SSG.com, and 11st Street have all expanded into luxury. Lotte On’s ‘On & The Luxury’ has grown over 20% annually since 2022. Its ‘Luxury Showroom,’ launched in Nov 2024, offers direct shipping from Italy.
📈 E-commerce’s Advantage
E-commerce firms target cost-conscious luxury buyers. They offer entry-level luxury at lower prices than department stores. 11st Street’s ‘Ooah Luxe’ added contemporary brands in 2024. Popular items include Autry Medalist sneakers ($68.46) and Louis Vuitton eco-bags ($61.62).
🔮 The Future of Luxury Online
Luxury demand is shifting—premium jewelry thrives in stores, while young buyers prefer trendy, affordable items online. Analysts expect VIPs to keep spending but predict selective buying from younger shoppers. South Korea’s e-commerce scene is evolving fast.
Will online platforms replace luxury department stores?
