Seoul Overtakes Paris in Number of Luxury Label Shops

Seoul has the second most luxury label shops in the world, more even than Paris and New York.

According to a study by hedge fund Bernstein, there are 221 luxury goods shops in Seoul, more than Paris (165) and New York (134). Tokyo came first place with 234.

Bernstein tallied 6,509 shops worldwide by 21 brands including Gucci, Chanel and Prada.

East Asia led the field thanks to the region’s penchant for ostentatious displays of wealth. Hong Kong ranked fourth with 148 luxury label stores, Shanghai seventh with 106, Beijing eighth with 102 and Taipei 10th with 90. Between them they accounted for about 15 percent of the global total.

London came sixth with 128 and Milan 14th with 76. Busan ranked 18th alongside Las Vegas and Mexico City with 61.

At the bottom of the 663 cities was Hsinchu, Taiwan with just one.