Lotte Department Store announced on March 25 that it opened the high-jewelry maisons Van Cleef & Arpels and Graff on the first floor of its flagship store on March 21. With Cartier, Tiffany, and Bulgari already in place, the retailer is stepping up its bid to attract high-jewelry shoppers in northern Seoul.
Demand for high jewelry has been climbing steadily. These pieces are prized not only as fashion statements but also as investment-grade assets, appealing to buyers who want rarity and long-term value.
Lotte Department Store’s luxury jewelry sales grew more than 20% year-over-year in 2023, and surged over 35% in the first quarter of this year (January–March). The company expects that momentum to continue.
As part of a strategy to position its flagship as the high-jewelry destination for northern Seoul, Lotte opened Van Cleef & Arpels and Graff simultaneously.
Founded in France in 1906, Van Cleef & Arpels is a storied high-jewelry house with more than a century of heritage. The new flagship boutique — Van Cleef & Arpels’ first new boutique of the year — captures the maison’s timeless, lyrical beauty and artisanal craftsmanship. Inspired by Parisian architecture, a black façade serves as the boutique’s signature element. Visitors can explore the brand’s hallmark offerings, from classic high jewelry and Poetic Complication watches to the Lucky Spring collection.
Lotte also introduced Graff, the British high-end jeweler renowned for its focus on rare, high-value diamonds. Graff is unique in that it manages every stage in-house—from sourcing rough stones to cutting, polishing, and sales. The Graff salon at Lotte’s flagship blends an elegant interior that evokes pearls cascading down a wall with furniture upholstered in distinctive bouclé fabric, creating a luxurious yet warm atmosphere. A private viewing room showcases Graff’s most exceptional high-jewelry pieces, offering customers an elevated, personalized experience.
To celebrate the openings, the flagship will host a “High Jewelry Fair” through April 6. Nineteen brands, including Cartier, Bulgari, and Tiffany, will participate, presenting limited-edition pieces and roughly 38 billion KRW (about $28.5 million) worth of high jewelry. Lotte first held a high-jewelry fair at its Jamsil branch last year to strong customer response, and plans to make the event a regular fixture to cement the department store as a go-to destination for high jewelry.
Cho Hyung-joo, head of Lotte Department Store’s luxury division, said, “The openings of Van Cleef & Arpels and Graff at our flagship demonstrate that the store has strengthened its competitiveness in the northern Seoul high-jewelry market. We will continue to expand our high-jewelry brand portfolio to provide customers with not just products, but memorable experiences.”
By Suyeon Song ssy1216@viva100.com
