LV CEO Beccari Blends Retailtainment and Heritage in Seoul Amidst Expanded LVMH Role

Pietro Beccari, CEO of Louis Vuitton, recently unveiled "LV The Place Seoul," a monumental 54,000-square-foot superstore in the vibrant city of Seoul. This launch occurred mere hours after his appointment to a second, significant role as CEO of LVMH's fashion group, overseeing prestigious brands like Fendi, Pucci, and Givenchy. The grand opening was a star-studded affair, drawing global icons such as BlackPink's Lisa, K-Pop sensation Felix, and renowned artist Takashi Murakami, all gathered to witness a new paradigm in luxury retail.

Beccari elaborated on the philosophy behind this ambitious project, dubbing it "retailtainment." He candidly admitted, "We just had a period in luxury where we all got fat and chunky and sales came spontaneously… We lacked innovation." He stressed that as a market leader, Louis Vuitton, which he noted is not merely a fashion brand, needed to ignite curiosity and stimulate engagement. The six-story complex masterfully integrates a historical narrative, a high-end café, a sophisticated restaurant, and remarkable works of art, setting a new benchmark for experiential luxury.

Nestled within La Reserve, part of the Shinsegae department store's luxury complex, "LV The Place Seoul" is more than just a retail space; it's an immersive journey. Central to its offering is the "Louis Vuitton Visionary Journeys Seoul" exhibition, designed to be a "paradigm busting" experience. This strategic opening, coinciding with Beccari's expanded responsibilities within LVMH, underscores the group's commitment to innovation and market leadership, particularly in key regions.

The "Visionary Journeys" exhibition provides a deep dive into Louis Vuitton's rich heritage. Visitors embark on a "brainy stroll" through a curving "Trunkscape" tunnel, showcasing monogram trunks from the 1880s, 19th-century advertising, hat boxes, and rare documentation. This historical narrative vividly illustrates the brand's enduring roots, directly inspiring contemporary designs, such as a multi-drawer shoe from 1905 that foreshadows a modern sneaker from Pharrell Williams' debut collection. Across six sections—from origins and watches to personalization and workshop—the brand's history is told with gusto, blending archival pieces and objets d’art with iconic designs from celebrated LV designers like Marc Jacobs, Kim Jones, Virgil Abloh, and Nicolas Ghesquière, whose bags in monogram, Damier, or Epi leather epitomize the LV aesthetic. Beccari emphasized the importance of storytelling for younger, more skeptical consumers, noting, "They need to know the reason behind a brand." This approach has already proven successful with "The Louis" concept store in Shanghai, which attracts 22,000 visitors weekly, converting many into new clients, and similar numbers are expected in Seoul, which saw 1,700 visitors on its first soft opening day.

Korea's significance as one of Vuitton's top five markets played a pivotal role in this venture, with Shinsegae department store group fully backing the project. The superstore occupies 80% of a renovated 1930s building that once housed 30 brands and 15 restaurants. The complex also features LVMH labels Celine and Loewe, brands now falling under Beccari's expanded fashion group purview.

The culinary offerings at "LV The Place Seoul" are equally exquisite. The top floor hosts JP, a new restaurant helmed by Korean-born Chef Junghyun Park of New York's award-winning Atomix. Park's menu presents refined coastal cuisine, including soy-sauce marinated blue crab with silky egg custard, alongside bolder creations like lobster with Korean mustard and Hanwoo Tenderloin with beetroot and galbi sauce. Park expressed his pride in collaborating with Louis Vuitton, "the market leader," for his return to his home country. The elegant dining space, finished in fine woods, extends to a rooftop adorned with three monumental sculptures by Anthony Gormley, Henry Moore, and Louis Bourgeois, from the private collection of the Chung family, owners of Shinsegae. Additionally, a café sourced by Maxime Frédèric, pastry chef of Cheval Blanc in Paris, brings the number of Vuitton stores with culinary facilities to 19 globally.

The four floors of retail space showcase the entire world of Louis Vuitton. A highlight is a powerful array of looks from Ghesquière’s dramatic medieval futurist cruise collection, which Lisa of BlackPink notably wore to the opening VIP event. The brand's recent focus on sport is also prominently displayed, from creating trunks for Paris Olympic medals to sponsoring this year’s Formula One championship. Almost anything can receive the LV makeover: skateboards, football tables, ping pong sets, monogram golf bags, and portable roulette tables, demonstrating a carefully calibrated risk in appealing to the luxury appetite of local consumers, a gamble Beccari has a proven track record of winning.

Beccari's success in "retailtainment" is not new. Before joining Vuitton in January 2023, he reinvented luxury retail during his five-year tenure as CEO of Dior. He transformed Dior's Avenue Montaigne flagship into the fashion world's most acclaimed store, featuring a café, restaurant, VIP salons, a super suite, and the impressive Galerie Dior—a permanent 13-room exhibition of the brand's history. He observed, "People are very interested in seeing the deep roots of a great brand like Dior. People leave the exhibition speaking well about the brand. That really counts. And then they go into the store right after to buy something." He stressed the need for exhibitions to "move and evolve," citing Dior's new display of fashion from the private collection of the late Azzedine Alaïa. Vuitton, with annual revenues exceeding €20 billion, is almost twice the size of Dior, acting as the lynchpin of the LVMH empire, accounting for an estimated quarter of group sales and 40% of profits.

Addressing recent criticisms regarding price increases in luxury goods, Beccari explained, "There has been significant inflation in our raw materials too. That spiral of inflation has been the main driver to me. Also the movement in the dollar means we have been forced to up prices in certain markets in order to avoid resales internationally. We have had to defend our profit and loss, that’s a key strategy."

Looking ahead, Beccari is enthusiastic about two major upcoming openings. One is scheduled for 2027 on the Champs Élysées, where a city block is being transformed into a colossal Vuitton trunk, concealing a massive construction site. Another store launch is planned for Rodeo Drive, involving iconic architects Frank Gehry and Peter Marino. Beccari teased, "Expect a few surprises." A former professional footballer, he views sport as integral to burnishing Vuitton's image as a cultural institution. "We like to be recognised as a cultural brand. And sport is part of modern culture. Young people love and practice sport. It’s a key part of their lives. And of Vuitton, back from when we created the case for the World Cup in South Africa in 2010. Like we like to say, 'victory travels in Louis Vuitton'."

The brand's arches have been prominently featured at F1 races throughout the season, fostering a connection that offers another strategic benefit: inviting Very Important Clients (VICs) into luxury boxes and even into the race pits during tire changes. Beccari mused, "Oddly enough, the race pit reminds me of an atelier, due to the meticulous care for detail."

Regarding his new role overseeing 10 other LVMH labels, Beccari expressed profound praise for his predecessor, Sidney Toledano, who will transition to a consigliere role for Bernard Arnault. He likened the transition to a father entrusting his daughter to a new son-in-law, stating, "I will try to do my very best in this new scenery and challenge. Some brands I know very well like Fendi, where I was CEO. So, I will have to study and learn and try to provide input. Fortunately, Sidney has put great teams in place—CEOs and creative directors." While LVMH does not disclose revenues for its fashion group, they are estimated to exceed €5 billion. The fashion world's busiest executive has undeniably become even busier.