Lotte Homeshopping Operates 'Talent Academy' to Develop Experts by Job Category

[Asia Economy Reporter Minyoung Cha] Lotte Homeshopping announced on the 6th that it will operate the ‘Talent Academy,’ which selects key in-house personnel from major business sectors such as fashion, beauty, food, and DT (Digital Transformation) and nurtures them into expert-level talents.

The Talent Academy system targets up to 10 outstanding talents per job category, selected through evaluations such as performance reviews and executive recommendations, from employees to junior managers (assistant managers) and below.

Lotte Homeshopping plans to cultivate future talents with professional knowledge and practical capabilities through step-by-step programs including ▲theoretical education in collaboration with specialized institutions and invited professors from top domestic universities ▲practical training on proposing new brands based on market research and analysis ▲global benchmarking through attending overseas exhibitions and completing courses at world-class educational institutions.

For example, in fashion, a four-month program covers understanding materials such as leather and fur, color planning, cost and production process analysis, overseas sourcing methods, and new product planning practice. To this end, Lotte Homeshopping signed a business agreement last month with top domestic universities including Seoul National University and plans to conduct DT education programs in partnership with the global online retail company Amazon.

The Talent Academy was established based on the judgment that nurturing core talents capable of driving continuous growth is essential in an environment where the boundaries between media and shopping are blurring and competition is intensifying. It is also part of talent management emphasized by CEO Lee Wanshin, who states that “a company’s core competitiveness lies in its people.”

Meanwhile, Lotte Homeshopping has continuously operated an in-house task force team (TFT) composed of young employees at the assistant manager level and below to secure new growth engines. Through this, it launched the online specialty store ‘Retit,’ which offers customized products and services for single-person households, and the first health food private brand ‘Daily Balance.’

Park Jaehong, Head of Management Support Division at Lotte Homeshopping, said, “In a situation where infinite competition is expanding, we judged that nurturing core talents is important for sustainable growth,” adding, “We will train highly promising talents into experts through the top-level education program and ultimately strengthen corporate competitiveness.”