Lotte Department Store Selected as One of the World's Top 10 Most Innovative Department Stores

Award Ceremony at IGDS-Hosted Global Department Store Summit
Standing Shoulder to Shoulder with Germany's KaDeWe and UK's Selfridges

Lotte Department Store has been selected as one of the 'Top 10 Most Innovative Department Stores in the World in 2023' by the world's most prestigious department store association.

On the 28th, Lotte Department Store announced that it was chosen at the award ceremony held during the '14th IGDS Global Department Store Summit' organized by the Intercontinental Group of Department Stores (IGDS).

IGDS, established in Switzerland in 1946, is the most authoritative department store association worldwide. It has 45 renowned department stores from 38 countries as members and holds events annually on various themes. This year, 36 department stores from continents including the United States, Europe, Asia, and Africa applied for the award themed on the most innovative department stores. International judges composed of retail industry experts evaluated the candidates based on innovation in areas such as growth potential, customer management, employee welfare, and social contribution.

Lotte Department Store Main Branch Exterior. [Photo by Lotte Department Store]

Lotte Department Store is believed to have received high scores for introducing various new brands and content centered around Jamsil Lotte World Mall this year, including 'Noted World,' 'London Bagel Museum,' and 'Mardi Mercredi.' Additionally, the 'Myeongdong Festival' held in May and 'Lotte Mall West Lake Hanoi,' which opened in Hanoi, Vietnam in September, were also positively evaluated.

Lotte Department Store also interpreted that factors such as the mandatory paternity leave system implemented since 2017 and the newly established 'Our Child's First Step Leave' this year contributed positively. In terms of social contribution, activities like 'plogging,' which involves picking up trash while visiting domestic cultural heritage sites, and projects selecting kids' orchestras received great responses.

Lee Cheong-yeon, Head of Planning Division at Lotte Department Store, said, "As a result of breaking existing frameworks and trying new approaches in various fields, we were selected as one of the Top 10 Most Innovative Department Stores in the World alongside famous department stores such as Germany's KaDeWe and the UK's Selfridges. We will continue to strive for ongoing innovation to become a department store loved not only domestically but globally."