Lotte Outlet Honam Chungcheong Region Hosts 'Nanum Expo'

[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] A large-scale event featuring significant discounts on inventory to promote win-win sharing for the clearance of products from small and medium-sized partners is being held at Lotte Outlet Gwangju Suwan Branch and Gwangju World Cup Branch.

Lotte Department Store Honam Chungcheong Region (Regional Manager Jeong Yoon-sung) announced on the 19th that it planned the sharing event to help boost sales of products from small and medium-sized partners, which have been sluggish due to weakened consumer sentiment caused by the COVID-19 pandemic, and to revitalize the local economy.

In particular, small and medium-sized local partners also participated in this event.

The home fashion brand ‘Unhyeongung’ started as Hyungje Sangsa in 1992 and launched its current brand in 1996. It is a regional bedding production brand with 25 years of tradition, headquartered in Pyeong-dong, Gwangju Metropolitan City.

The local brand ‘Unhyeongung’ has also been directly feeling the impact of COVID-19, with product sales in the first quarter of this year decreasing by about 30% compared to the previous year, and will receive benefits from Lotte Department Store through this win-win event.

Lotte Department Store is applying a special margin for the products sold at this event, reducing the existing margin by up to 50% to provide practical benefits to small and medium-sized partners.

Additionally, to assist the cash flow of participating small and medium-sized partners, the payment for product sales will be advanced by 20 days compared to the usual schedule.

First, at Lotte Outlet Gwangju Suwan Branch, from the 20th to the 27th, events featuring ‘She’s Miss’ and ‘List’, which will take charge of summer fashion for female office workers, will be held. Approximately 20,000 items will be available for this event, with spring/summer 2020 season blouses and dresses discounted by up to 80%. Coats, jackets, and other all-season products made last year can also be purchased at affordable prices.

At Lotte Outlet Gwangju World Cup Branch, from the 21st to the 27th, this year’s spring products and last year’s summer products from the local home fashion specialist brand ‘Unhyeongung’ will be offered at discounts of up to 75%. Scratch products will be sold at discounts of up to 90%, and pillow covers can be purchased at 10,000 won for two pieces, while carpets are available at a special price of 29,000 won.

In addition, various events involving small and medium-sized partners will be introduced until the 3rd of next month.

Jeong Yoon-sung, Regional Manager of Lotte Department Store Honam Chungcheong Region, said, “This is a win-win event involving a total of 18 partners, including our local brands,” and added, “We hope it will provide practical help in clearing partners’ inventory and revitalizing the local economy.”