Sephora Korea: Entering The Korean Beauty Market

Cushman & Wakefield directly contacted Sephora’s global headquarters after we heard the beauty retailer’s plan to enter the Korean market.

We presented our unique track record in the Korean retail market and highlighted the strong teamwork of the Shopping Centre Leasing Team and Cross-Border Team. As a result, Cushman & Wakefield successfully signed a contract with Sephora.

The challenge, however, was that Sephora Korea required a large area that was more than 100 pyeong or 330 square meters, based on the retailer’s guidelines. Securing this space would not be easy unless the lessor was persuaded in advance.

Cushman & Wakefield strategically approached Parnas Mall and Lotte World Mall, both of whom had intentions to renew their Tenant Strategy plan.

Despite fierce competition due to the high foot traffic in both malls, we were able to close deals with Parnas Mall and Lotte World Mall while securing the required space for Sephora’s stores.

Both the lessors and the lessee were satisfied with Cushman & Wakefield for the quality service we delivered and for completing the contracts for the two stores.

Due to Sephora’s high satisfaction rating, we received additional orders for the company’s office headquarters in Korea and project management services.