Korean retailer Artbox taps CBRE for U.S. expansion; to target West Coast
Korean lifestyle retailer Artbox has selected a commercial real estate partner to help spearhead its expansion in the United States.
CBRE has been chosen to exclusively represent Artbox in the U.S. Founded in 1984 in Seoul, Artbox has over 220 directly managed stores across South Korea, offering shoppers an array of products spanning stationery, home, wellness, culture, travel, gifts, food and snacks and more.
CBRE’s Steven Chon and Sofi Choi, founding members of the firm’s Korea Desk North America practice, will lead the leasing efforts for Artbox's expansion throughout the U.S. Earlier this month, Artbox opened a pop-up store on Melrose Avenue in Los Angeles as the first step in its U.S. expansion. From Oct. 3-11, the space featured a series of immersive zones combining shopping, K-culture and interactive experiences.
“We are thrilled to represent one of Korea’s leading lifestyle brands in their expansion to the U.S.,” said Choi, a senior VP at CBRE. “The growing popularity of Korean music, television, beauty, wellness and lifestyle trends in the U.S. has created an exciting opportunity for Artbox to establish their first location here.”
A CBRE spokesperson told Chain Store Age that Artbox will target the West Coast for its brick-and-mortar expansion in the U.S. The brand is actively considering the San Francisco Bay Area, greater Los Angeles area and the Pacific Northwest as destinations for growth.
Artbox marks the latest Korean brand to plot its entry into the U.S., fueled by a growing interest in K-pop and K-beauty.
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“We’ve successfully helped Korean brands enter and navigate new markets for over 20 years,” said Chon, an executive VP at CBRE. “Our market expertise, deep relationships, along with CBRE’s network and platform enables us to connect brands with the stakeholders and influencers they need to be successful.”
