Hyundai Department Store announced that it will open a 'The Hyundai Global' regular store (retail shop) in Tokyo, Japan, on the 19th of next month.
While domestic department stores have previously operated pop-up stores (temporary stores) introducing Korean brands in Japan, this is the first time a regular store will open.
The Tokyo store will be located on the 4th floor of Parco Shibuya and will operate on a rotation basis, changing brands every 1 to 2 months. The first brand to be showcased in the store is 'Trimming Bird,' which became popular after being worn by K-pop idols, and will be available for sale until October 16.
The opening of this regular store is part of Hyundai Department Store's strategy to expand its global business and enhance its business model.
Since May of last year, Hyundai Department Store has been pursuing the 'The Hyundai Global' project, which introduces K-brands overseas. To date, it has operated a total of 43 brand pop-up stores in Japan. In the case of the pop-up store at Parco Shibuya, 12 brands generated sales of over 100 million won in just one week.
This time, a regular store will be established locally to secure a stable distribution base. Hyundai Department Store believes that the opening of this store will be a turning point in establishing a long-term brand image.
To support the operation of the offline regular store and local marketing, Hyundai Department Store made a strategic investment of 30 billion won in the Japanese startup Medicortis in May. Medicortis has been operating the online fashion mall 'NUGU' in Japan since 2020 and is strong in collaborative marketing with well-known influencers.
Hyundai Department Store expects that this will accelerate the expansion of its overseas K-brand export platform business, 'The Hyundai Global.'
In the first half of next year, Hyundai Department Store plans to additionally open a 660 square meter (200 pyeong) flagship store (experience store) on Omotesando shopping street in Tokyo, showcasing 10 K brands. Starting in Tokyo, it also plans to secure more stores in core shopping districts in Japan, aiming to open a total of 5 regular stores in Japan over the next 5 years.
Additionally, it plans to open a 'The Hyundai Global' section (tentative name) on the NUGU online mall as early as this year.
Hyundai Department Store aims to expand its overseas business based on its expansion in Japan to Taiwan, Hong Kong, and other regions. In Taiwan, it plans to open K-brand pop-up stores between October and December through partnerships with local retail corporations.
In the face of concerns about slowing growth due to the prolonged domestic economic downturn, Hyundai Department Store envisions breaking through its growth limitations through global business. To this end, it established a dedicated team for 'The Hyundai Global' within its fashion division last May.
An official from Hyundai Department Store noted, 'This is an opportunity for K-brands to be recognized overseas and to continue growing, and it will serve as a catalyst for Korean department stores to actively expand the global distribution influence of K-brands.'