What: The brand's U.K. director Gary Bott explains the decision to focus on a concession model, e-commerce and strategic wholesale in Europe, whilst Asia launches new multi-brand concept stores

Why is it important: The brand will rely on department stores for its development in Europe

South Korean label Gentle Monster is known for its cool eyewear designs as much as it’s known for its theatrical retail spaces.

A new multi-brand concept is set to open in Shanghai later this year and introduce new categories and brands beyond the Gentle Monster family. But it’s a different story when you look at the label’s European business, which includes a Selfridges concession and a flagship space on Argyle Street here. The latter won’t reopen.

“Ultimately, it was a decision based on the decline of footfall and sales. We had to look at it in terms of overheads which were disproportionate to the sales unless landlords were able to offer rent reductions. That’s why we are seeing so many stores close on the high street,” Bott added.

A dedicated e-commerce site for the U.K. and Europe is also in the works, in order to shift operation management to the U.K. and no longer have to ship product from the brand’s Seoul headquarters.

But as lockdowns begin to ease, Bott is expecting the focus to shift back to physical retail sales, which used to make up to 90% of the brand’s total revenues in the U.K. A small 7% came from e-commerce and the remaining 3 per cent from “strategic wholesale.”

Gentle Monster’s Post-Pandemic Retail Rethink