SEOUL: Italian supercar maker Ferrari NV has opened its first public event in Asia in Seoul, joining a growing list of luxury brands flocking to South Korea.
The event, dubbed Universo Ferrari, showcases 22 models, including the recently released Ferrari Roma Spider. Several iconic models, including a Formula 1 racing car, are also on display at the event, which opened Thursday.
South Korea has become a magnet for global luxury brands seeking to capitalise on the nation’s growing cultural cache.
LVMH’s largest label Louis Vuitton held its pre-fall fashion show in Seoul in April, followed by Kering SA’s Gucci, which hosted a show last month. Mercedes-Benz Group AG posted record sales in Korea in 2022, led by “super luxury brands” like Mercedes-Maybach GLS.
“Korea is a very important market for Ferrari, and holding this special exhibition in Seoul is our way of thanking all our owners and fans for their passion and support,” Enrico Galliera, chief marketing and commercial officer at the automaker said in a statement. Galliera attended the event with chief executive officer Benedetto Vigna.
Ferrari sold around 300 cars in Korea in 2022, accounting for about 2.5% of the 12,000 vehicles it sold globally, according to the company.
The four-day event was open to invited guests and clients for the first three days. Tickets for the public for the final day sold out within a minute online, the company said.