Sung-Joo Kim, expert in luxury

Sung-joo Kim, Luxury Expert

Success Story: MCM’s Chairwoman is Korea’s most successful businesswoman in the luxury goods industry while also leading Red Cross Korea.

Amongst Asian businesswomen, few have the international aura of Sun-joo Kim. The big boss of MCM ? the German equivalent for Louis Vuitton, which witnessed the Parisian opening of a new boutique at the Printemps Haussman department store a month ago, is also the Head of Korea’s Red Cross ? her native country.  She divides her time devoted to both the Red Cross and the global expansion of MCM, which weighs over $600 million dollars (€492 million euros), and just held its very impressive fashion show, “Game On! Diamond Land!” in Beijing on October 29th.

Mrs. Kim ? as she is referred to by many ? has led an incredible journey in her life: it is the story of an independent woman and an iconoclast whom - in spite of being disowned and disinherited by her wealthy family for marrying her Canadian husband instead of going through an arranged marriage ? managed to become the most successful Korean businesswoman in the luxury industry as well as an expert for Asia’s luxury market, while at the same time being a devoted and inspiring mother who is a spiritually grounded Christian and living a modest lifestyle.

“When I was the Head of Gucci in the early 90’s, Korea was a fragile market. But following the financial Crisis in 1998, Korea became Gucci’s 5th largest market. Japanese tourists were drawn to Korea. Subsequently I witnessed the birth, growth and maturity of the market. That phenomenon is currently happening in China” said the woman who trained at Bloomingdale’s in NY before turning Gucci into a huge success in Korea.

Fashion Show in Beijing

While none of the BRICS countries have given birth to luxury brands with global recognition, Mrs. Kim is instrumental in leading a big shift. “MCM is a new player in the Asian Luxury market” she says, while admitting that there was a time when “MCM was bigger than Louis Vuitton in Japan.”

Created in 1976, MCM ? which stands for Modern Creation Munchen ? is mostly known for its leather goods line titled Cognac Visetos. Following an investigation for Tax Fraud, MCM’s founder Michael Cromer was almost brought down to bankruptcy. The subsequent owners of MCM sold off the stores and their ownership of the brand, which resulted in the disaggregation of the brand. Mrs. Kim acquired the rights to the brand in 2005 and has been responsible for its renaissance in Asia and current globalization to the US and Europe.