What: Sales at the 31-year-old South Korean retailer’s luxury outpost in Seoul’s reached KRW 1 trillion (around USD 844 million) for the first time.

Why it is important: By the end of November, sales had grown 31% year-on-year, with revenues from luxury goods generally up 49%, and luxury jewellery and watches up 67%.

Sales from VIP customers, which make up more than 40% of Galleria’s luxury goods sales, were up 49% from 2020. The company attributes this growth partially to the introduction of arts and lifestyle experiences, including art sales.

Galleria Department Store’s Annual Sales Hit 1 Trillion Won Mark