Storefront Asia expands into South Korea
Pop-up leasing specialist Storefront Asia has opened an office in Seoul.
“Storefront is redefining how companies can locate and activate temporary retail space with its global marketplace for connecting tenants and property owners in an efficient, flexible and transparent way,” said Hong Kong-based Benoit Clement-Bollee, GM of Storefront Asia. “We are excited to partner with Kcent to bring our expertise to this fast-growing retail capital and introduce the benefits of pop-up stores to thousands of merchants looking to expand into Korea.”
Thanks to a prolonged recession in South Korea, retail vacancy rates are rising and more brands are diverting their interests from traditional retail to offer a quality experience to customers in the form of pop-up stores and short-term leases.
Storefront has partnered with the Korean marketing and retail firm Kcent to register qualified spaces, sign up leading and emerging brands and give them tools to successfully market their short-term space.
The Storefront site will now offer thousands of spaces across Seoul available for pop-up stores, showrooms, and event spaces. Initial listings include an expansive gallery in Gangnam-Gu, a modern pop-up store in Sungsoo, an artistic event space in the heart of Insa-dong and a trendy fashion showroom in Sungsoo.
“Korea is Asia Pacific’s third largest retail market, and most of it is based in Seoul,” explained Jin Yong Kim, Kcent’s CTO. “Pop-up stores and other forms of short-term rentals are already creating a buzz in the trend-savvy Korean market. All we needed was a transparent and efficient marketplace like Storefront to leverage this trend.”
Storefront lists thousands of retail spaces across the world’s largest cities, including Paris, London, New York and Hong Kong. Since its launch in 2014, Storefront has supported more than 100,000 brands around the world and the platform now offers more than 10,000 listings.