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Stories

Leica Picks Cushman & Wakefield to Help Expand Its Business in South Korea

01 THE CHALLENGE

In 2018, Leica Camera, one of the world’s largest camera and lens manufacturers, started planning its expansion into South Korea. The goal was to connect with a diverse customer base and market its cameras and lenses.

As an essential part of the expansion, a real estate plan to establish a big box of Leica Camera was required. Leica engaged Cushman and Wakefield to assist with the planning and establishment of a showroom in central Seoul.

02 THE SOLUTION

Cushman & Wakefield Korea formulated a strategy, prioritised possible locations, and started its search for a suitable property for Leica. In addition, Cushman & Wakefield worked closely with Leica Camera to finalise the right location and property for Leica which aligns with its brand identity and caters to its diverse customer base in Seoul.

Leica’s location and property preferences were stringent, with only a handful of the sites meeting Leica’s unique requirements. Cushman & Wakefield went the extra mile to locate and propose properties, and eventually shortlisted one location in the heart of Seoul that Leica felt was the right fit.

03 THE RESULT

Within just a year of engaging Cushman & Wakefield, Leica Camera successfully agreed to lease a property at Cheongdam Square in Seoul. Leica’s big box showroom at Cheongdam Square includes an exhibition space and a VIP lounge. Comfortably established in their new home, prospects are looking good for Leica, with more than 200,000 individuals visiting the neighbourhood on a daily basis.

WE’RE ON HAND TO HELP

Contact us to discuss how our experience on this project could be translated to your business requirements.

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