[Report] Lotte's Retail Expertise Poured into 'Time Villas Suwon'

8-Month Renewal... Transformation of Lotte Mall Suwon Branch
Focus on Store Reorganization and Expansion of F&B Outlets
Insufficient Spaces Targeting Kids and MZ Generation

On the 30th, as I exited through the back door of Suwon Station, known as the Suwon Station Transfer Center, a massive complex shopping mall caught my eye. It was Lotte Group's new premium complex shopping mall, 'Time Villas Suwon.'

Time Villas Suwon, which had its pre-opening on this day, retained a basic structure similar to the former Lotte Mall Suwon, but it was newly designed to match customer flow, and the flooring and finishing materials were upgraded to a more luxurious interior. The visual appeal was enhanced by breaking down the traditional boundary between department stores and shopping malls and creating one open space. A Lotte Department Store official said, "It was renovated under the philosophy of being a 'space where time also wants to stay.'"

A view of Time Villas Suwon located behind Suwon Station in Gyeonggi Province. Photo by Seongpil Jo @gatozz

Lotte Reclaims Suwon Market with Premium Complex Shopping Mall 'Time Villas'

Suwon Station is the busiest station in Gyeonggi Province in terms of foot traffic. It is a key transportation hub in southern Gyeonggi, served by four lines: Seoul Metropolitan Subway Line 1, Suin-Bundang Line, Gyeongbu Line, and KTX. The daily foot traffic reaches 100,000 people.

The predecessor of Time Villas Suwon, Lotte Mall Suwon, opened in 2014. At that time, Lotte Mall Suwon was called a 'distribution revolution' not only in Suwon but also in the southern Gyeonggi region. There were virtually no complex shopping malls that housed department stores, shopping malls, marts, and cinemas all in one place. Although Aekyung Department Store was located near Suwon Station, it was incomparable in scale.

Before the opening of Lotte Mall Suwon, the local merchants' association demanded 50 billion KRW from Lotte as compensation, claiming their survival was threatened. This highlights the position Lotte Mall held at the time. After opening, Lotte Mall Suwon became a shopping sanctuary for local residents. On weekends, the surrounding roads were paralyzed by the vehicles visiting Lotte Mall Suwon.

However, Aekyung Department Store changed its name to AK Plaza and expanded into a shopping mall, and this year, Shinsegae Group opened the complex shopping mall 'Starfield Suwon' nearby. With the growth of the e-commerce market and changing consumer trends, offline stores began to attract customers by providing enjoyable experiences beyond just places to purchase goods. This is the background behind Lotte's renovation of Lotte Mall Suwon after 10 years.

Jung Jun-ho, CEO of Lotte Department Store, who visited Time Villas Suwon on this day, also told the press, "We are now in an era where the boundaries between department stores and shopping malls are breaking down," adding, "We plan to expand the shopping mall by utilizing many of Lotte's assets, including existing stores and new sites."

On the 30th, Jung Jun-ho, CEO of Lotte Department Store, visited Time Villas Suwon. / Photo by Seongpil Jo @gatozz

Revamping Over 350 Stores... Strengthening F&B

Meadow by Dutch artist Drift exhibited at Time Villas Suwon
Photo by Seongpil Jo @gatozz

One of the main focuses of Lotte Department Store's renovation was the store reorganization. They revamped over 350 stores, almost equivalent to opening new stores. About 80% of the renovation has been completed so far. During the reorganization, global fashion brands were also expanded. The fashion platform Musinsa's private brand, Musinsa Standard, has already opened a store, and nine new global fashion brands that were not previously present were newly attracted. Luxury brands Kenzo and Versace, and Swiss watch brand TAG Heuer opened on the second floor, while British luxury brand Mulberry, lifestyle brand Tumi, and smartphone case brand Casetify made their first entry into the Suwon market.

The most noticeable change was in the food and beverage (F&B) stores. Previously franchise-centered stores transformed into SNS-popular eateries with differentiated concepts. Twenty-six new stores opened, including 'Tam Tam,' an SNS popular restaurant with a unique concept called 'Boyang Rice Noodles,' 'Horangi Gul,' a waiting-list favorite known for Korean beef large intestines hot pot, and 'Quan An Dao,' a famous Vietnamese restaurant located in Garosu-gil. Among these, conveyor belt sushi restaurant 'Konomi Sushi' and Hong Kong local cuisine restaurant 'How Sum' were introduced to the Suwon area for the first time. Lotte plans to complete the F&B renovation within the year by adding stores such as Randy's Donuts and Gordon Ramsay Street Burger.

Consumers met at Time Villas Suwon on this day seemed pleased with these changes. Kim Ji-hye (44), a local resident, said, "I often visited Lotte Mall Suwon because it is close to my home, and I was waiting for the renovation to finish. With the variety of restaurants, I think I will visit often on weekends." College student Lee Jae-hee (22) said, "It seems that many trendy brands like Musinsa have opened stores. It's nice to be able to check the size and details of products I have been eyeing online in person."

Time Villas Suwon's Food Hall 'Dining Avenue' / Photo by Seongpil Jo @gatozz

Considering that Time Villas Suwon attracts many family visitors on weekends, the lack of specialized spaces for children is a regrettable point. Lotte Department Store created a new 'Kinder Studio,' a bookstore and educational toy experience store for infants and toddlers, on the 6th floor as part of this renovation. However, the Lego Store on the 3rd floor, which features a play area modeled after Hwaseong Fortress's Hwaseongmun Gate in Suwon, limits simultaneous users to 10 people, showing limitations in scale.

Traffic congestion was also a concern. The predecessor of Time Villas Suwon, Lotte Mall Suwon, had secured an outdoor parking lot near the mall that could accommodate 900 vehicles. However, the lease contract recently expired, and a wedding hall and other facilities have been built on that site. The internal parking lot of Time Villas Suwon has about 2,400 spaces, which is approximately 30% fewer than nearby Starfield Suwon's 3,390 spaces.