Shinsegae Department Store Gyeonggi Branch Sees Strong Renovation Effect... Sales Up 20%

Exterior of Shinsegae Department Store Gyeonggi Branch.

[Asia Economy Reporter Lim Chun-han] Shinsegae Department Store Gyeonggi Branch announced on the 11th that sales have significantly increased after a major renovation over the past year.

The Gyeonggi Branch underwent a total of four renovations over the course of one year, starting with the Sports Specialty Hall in November last year, followed by the Experiential Lifestyle Specialty Hall in February this year, the Food Specialty Hall in July, and the Luxury Hall in October. As a result, sales from January to October this year grew by 20% compared to the previous year. In particular, last month, the number of customers in their 30s and 40s, the main clientele of the Luxury Hall, increased, leading to a 15% growth in women's fashion and a 13% growth in golf categories respectively.

In the food and lifestyle categories, sales exceeded the initial plan by more than 15%. The connecting passage to the basement level 1 Emart was normalized within three months, attracting 30% of Emart customers and creating a synergy effect. The food hall's paid membership program, 'Shinsegae Prime,' which was introduced for the first time in the industry, gained over 1,000 members in just over a month.

New luxury brands will also be introduced. Balenciaga opened an expanded relocated store earlier this month, and Loewe and Valentino will open their stores within this month. Existing brands such as Louis Vuitton and Gucci are also preparing for renovations.

The manager of Shinsegae Department Store Gyeonggi Branch said, “We have presented differentiated brands and content based on phased renovations,” and added, “We will continue to innovate the shopping space and establish ourselves as a landmark in the southern Gyeonggi area.”