Hyundai Department Store's fashion retail arm Handsome said Thursday it inked three separate exclusive domestic distribution contracts with foreign designer brands, in a drive to expand its overseas fashion portfolio.
The fashion retailer clinched exclusive deals with US designer brands Gabriela Hearst, Veronica Beard and Swedish fashion brand Toteme.
French luxury brand Chloe's creative director Gabriela Hearst's eponymous clothing brand was launched in the US in 2015 and focuses on sustainable fashion.
Toteme, launched by Elin Kling on 2014, features Nordic design-based clothes -- while Veronica Beard is a women's casual clothing brand launched in the US in 2009 and is responsible for more than 20 stores across the US.
With the contracts, Handsome will be opening Gabriela Hearst's first exclusive store in Asia -- at Hyundai Department Store's main store in Apgujeong-dong in Gangnam-gu.
Stores for Toteme will be opened at Hyundai Department Store's main store in Apgujeong and Trade Center branch in Samseong-dong in January and February, respectively.
Also, Hyundai Department Store's Pangyo branch in Gyeonggi Province will house South Korea's first store for Veronica Beard next March.
"All three brands have been sold at domestic multi-brand shops, but this is the first time for the brands to open brand-exclusive stores (in South Korea)," said an official from Handsome.
Starting with the exclusive contracts, Handsome said it plans to double the number of contracted overseas fashion brands to about 20 by the second half of next year.
The company also said it plans on more than doubling the sales in the overseas fashion sector to one trillion won ($768 million) within the next five years.
"We plan to discover overseas fashion brands that can lead global fashion trends and, along with domestic brands such as Time, Main, and System, we aim to provide new experiences and differentiated values to customers," said an official from Handsome.
"We will solidify our position as a 'style creator company' that provides beauty (related goods) to customers."
The exclusive contracts follow the Korean fashion company's bid to expand its overseas fashion portfolio.
The company signed an exclusive domestic distribution contract with Swedish designer brand Our Legacy in July to open the first exclusive store for the brand's products at the Hyundai Department Store Apgujeong Branch.
The brand opened its second store at Galleria Department Store EAST and is expecting to open its a third store at Hyundai Department Store's Pangyo branch this month.