Palace has opened its largest flagship store globally in Seoul, coinciding with the UK streetwear brand’s expansion across Asia.
Located in Apgujeong, a busy shopping destination for luxury and streetwear in the South Korean capital, the new Palace Seoul location spans 5,037 square feet of retail space across two floors.
Outside, the store is minimal with a white facade punctuated by 3D Palace logo. Inside, the interior riffs on a modern-day Korean-style palace, with carved-out green wooden walls, marble podiums for product display, stone benches, and a massive bulldog statue, as well as mirrored wall used as a display for skateboard decks, and audio-visual installations.
The Seoul store serves as the second location for Palace in Asia after Tokyo, and seventh worldwide. Today, the cult-brand also operates stores in London, New York, and Los Angeles, and boasts concessions insider Dover Street Market in London and Los Angeles.
For the year ended January 31, 2023, Palace revenue increased 15 percent year-over-year to GBP 31. 98 million pounds (USD 40.79 million), according to a UK regulatory filing.
Seoul is proving to be an attractive city in Asia for global brands to open flagship stores and forge retail networks.
Last December, European luxury jeweller Swarovski bowed it first-ever flagship store Seoul, while last month, Apple opened a new store in Seoul’s Hongdae district, serving as the tech giant’s seventh retail store in South Korea and its 100th location in the Asia-Pacific region.