SEOUL, Aug. 24 (Korea Bizwire) — Shinsegae Department Store announced on Wednesday the opening of its Luxury Watch & Jewelry Fair at its Gangnam branch from Friday until the end of August, showcasing high-end jewelry and watches from international brands.
With 34 brands on board, and products worth nearly 60 billion won on sale, it’s the biggest watch and jewelry fair in scale offered by the South Korean department store chain.
New items from brands like Omega and Tag Heuer are scheduled to be unveiled during the event, with watches from luxury brands such as Jaeger-LeCoultre, IWC and Audemars Piguet also on display for visitors to enjoy.
Sales of luxury watches and jewelry have been increasing steadily despite the long-term economic downturn facing South Korea.
Over the past three years, sales of high-end watches and jewelry jumped around 20 percent each year, two to three times higher than the general average annual sales growth.