JOVOY, LF's niche fragrance edit, closed all offline stores in 2025

JOVOY was a French niche fragrance multi-brand shop launched in Korea by LF in 2022, riding the post-pandemic 'small luxury' boom. The concept brought together curated French perfume brands in a premium retail setting, with standalone stores at Hyundai Department Store Pangyo and other premium locations. The brand targeted consumers who sought affordable luxury experiences through high-end scents.

By 2025, the niche fragrance market in Korea contracted sharply. Economic uncertainty, high exchange rates, and changing consumer priorities dampened spending on premium scents. LF withdrew JOVOY's offline operations entirely, closing all physical stores. The brand's physical retail footprint, built during the pandemic-era fragrance boom, was eliminated as LF prioritized channel efficiency and online-platform integration.

The closure reflected a broader contraction in Korea's niche fragrance market, which had expanded rapidly during the pandemic when consumers sought small indulgences. As economic conditions worsened, the 'small luxury' trend reversed, and mid-tier fragrance brands and multi-brand shops faced declining foot traffic and sales.