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Source: Kakao Corp

Kakao Commerce CIC Launches Luxury Online Gift Store 'Lux

Why it matters: Kakao Commerce CIC's newly launched 'Lux,' a dedicated online luxury gift store, marks an evolution in the gifting landscape by providing a diversified and accessible platform for high-end gifts.

This move indicates a strategic effort to capitalize on the luxury gift market and serves as a broader testament to the digitization of the luxury retail sector.

The Key Points:

  • Kakao's "Lux," part of its Kakaotalk gifting platform, features more than 10,000 products from over 120 brands, ranging in price from KRW 100,000 to KRW 100 million, to suit different tastes and budgets.
  • “Lux" features a direct sales model in which global luxury brands manage their products, mitigate counterfeit risks, and offer exclusive services and special packages.
  • Launch activities for "Lux" include a "wish list" contest and the provision of discount coupons for participants.
  • Kakao has improved its interface with a revised "Categories" menu for more accessible product and brand navigation and a new menu bar to improve access to "Lux" and the gift box.

The Big Picture: This development indicates a growing trend in the digital transformation of the luxury market.

With the launch of "Lux," Kakao aims to provide an in-depth gifting experience that taps into the non-face-to-face luxury gifting culture.

It reflects the company's commitment to improving user satisfaction and underscores its ambition to establish itself as the leading gifting platform in South Korea.