Hyundai Department Store said on the 10th that "The Hyundai Global" will run a pop-up store at a well-known department store in Taiwan. This is the first time a Korean department store has opened a pop-up store in Taiwan.
The Hyundai Global is a K-content export platform in which Hyundai Department Store sources competitive Korean homegrown brands and operates shops in well-known overseas retail locations. It is run in a format where Hyundai Department Store not only handles all export-related matters including customs clearance but also negotiates directly with overseas retailers on shop operations.
Hyundai Department Store will operate The Hyundai Global pop-up store for three months from the 1st of next month through Dec. 25 at the Shin Kong Mitsukoshi Xinyi Place A11 store in Taiwan.
Before that, on the 5th, Hyundai Department Store signed a business agreement with Shin Kong Mitsukoshi Department Store in Taiwan to cooperate on operating K-brand pop-up stores. Shin Kong Mitsukoshi Department Store is a leading Taiwanese department store that runs 15 branches across six cities, including Taipei, Taoyuan and Taichung.
This pop-up store will sequentially showcase 11 Korean brands. Representative examples include "Stand Oil," which held pop-up stores in Shanghai, China, and New York, United States, in April; "Laka," which presents unisex cosmetic products; and "Insilence," a contemporary fashion brand highly popular among people in their 20s and 30s.
Based on the know-how accumulated through this pop-up store, Hyundai Department Store plans to accelerate the expansion of The Hyundai Global's business in Taiwan. It is also reviewing the addition of pop-up stores in major Taiwanese cities Taichung and Tainan in the second half of next year.
In addition, on the 19th, Hyundai Department Store plans to unveil the first regular retail shop of The Hyundai Global at the Parco Shibuya location, a shopping mall in Tokyo, Japan. Although Korean department stores have operated pop-up stores in Japan to sequentially introduce K-brands, this is the first time a regular store is being opened.
A Hyundai Department Store official said, "The Hyundai Global's entry into Taiwan this time will be an opportunity for various K-brands to gain recognition overseas and continue to grow, and a chance for Korean department stores to take the lead in expanding the global distribution influence of K-brands," adding, "Going forward, based on The Hyundai Global business's brand sourcing capabilities and know-how, we will diversify overseas distribution models and lead the globalization of K-brands."