Lotte vs Shinsegae 'Suwon Daechup' Opens... Unveiling of 'Time Villas'

Lotte Department Store Unveils Complex Mall Time Bellas Today
Complete Renewal of Lotte Mall Suwon Branch

Lotte Group and Shinsegae Group, rivals in the domestic distribution industry, are competing with complex shopping malls in Suwon, Gyeonggi Province. Following the soft landing of Shinsegae's Starfield Suwon, which opened earlier this year and features specialized stores targeting the MZ generation (Millennials + Generation Z), Lotte's premium strategy-based complex shopping mall has issued a challenge, sparking fierce competition over the Suwon commercial district, which sees over 100 million annual visitors.

On the 30th, Lotte Department Store unveiled a new premium complex shopping mall, 'Time Villas,' in Suwon, Gyeonggi Province. The Lotte Mall Suwon, which has undergone about 80% of its renewal since October last year, was transformed into 'Time Villas Suwon.' As the first Time Villas location, 'Time Villas Suwon' is based on a convergence model that combines the strengths of department stores and shopping malls.

Lotte's New Complex Shopping Mall 'Time Villas' Sets Sail in Suwon

Time Villas Suwon is a complete renewal of Lotte Mall Suwon, which Lotte Department Store opened in 2014. It spans from basement level 1 to the 7th floor above ground, with a sales area of 70,082㎡ (21,200 pyeong). The company explained that premium tenants and services from the department store were applied to the shopping mall, while the diversity inherent in the shopping mall was reflected in the department store. It is not yet fully completed. Currently, about 80% of the renewal has been completed, and Lotte Department Store plans to finish all renovations and hold a grand opening around the end of August.

The new name, 'Time Villas,' was designed with a logo visualizing time symbols such as clock hands: 'Big Hand' and 'Big Face.' A Lotte Department Store official explained, "It embodies our commitment to continuously propose new lifestyles to customers."

Time Villas Suwon has been completely transformed based on the philosophy of being "a space where time also wants to stay." The company stated that innovations were pursued across all areas, including the exterior, interior design, MD content, and services. A Lotte Department Store representative said, "With the goal of making customers' time more valuable, we have introduced a new value called 'Time You Deserve.'"

Renewal Over More Than Half a Year... What Has Changed?

Time Villas Suwon was revamped with the goal of strengthening 'premium content competitiveness' by expanding global fashion brands. Among the signature brands that entered first through the renewal are 'Musinsa Standard,' the first in the distribution industry to open here; the popup of 'The Conran Shop,' a premium lifestyle shop from the UK; and the largest stores in the commercial district such as 'Nike Rise' and 'Adidas Beacon.'

In line with the pre-opening, Time Villas Suwon newly introduced nine global fashion brands. Luxury British fashion brand 'Mulberry,' luxury lifestyle brand 'Tumi,' and 'Casetify,' known as a luxury smartphone case brand, are entering the Suwon commercial district for the first time. Next month, Time Villas Suwon plans to additionally attract overseas fashion and beauty brands such as 'Loewe Beauty,' 'Laura Mercier,' and 'Moncler,' and later introduce popular F&B brands like 'Randy's Donuts' and 'Gordon Ramsay Street Burger.'

The interior spaces of Time Villas are adorned with 'art' throughout. In particular, the large art piece 'Meadow' located in the first-floor center hall is a representative work by the famous Dutch artist 'Drift.' Sixteen flower objects hanging from the ceiling move and change colors according to the passage of time. A Lotte Department Store official said, "Meadow not only adds beauty to the interior space but also symbolizes the future of Time Villas, which will change and evolve moment by moment according to customer needs."

Starfield Suwon and Competition with Shinsegae Group

Time Villas Suwon is expected to engage in fierce competition with Starfield Suwon, located just 3 km away. Starfield Suwon, which had its grand opening last January, recorded sales of 23.9 billion KRW and operating profit of 5.9 billion KRW in the first quarter of this year, earning recognition for its soft landing in the Suwon commercial district, known as the largest distribution battleground in southern Gyeonggi Province.

In Suwon City, the annual floating population reaches 120 million, with the southern Gyeonggi area particularly home to young professionals with high purchasing power and employees of major corporations such as Samsung Electronics, Hyundai Motor, and SK. Lotte Department Store is confident that once all renovations are completed, Time Villas Suwon, with its premium content, will gain an advantage in sales competition against Starfield Suwon.

Lotte envisions taking the lead in the complex shopping mall competition starting with Time Villas Suwon. A Lotte Department Store official said, "We are considering opening stores in Daegu and Songdo by flexibly adapting Time Villas Suwon's content, space, and services to each commercial district."