Hyundai Department Store(069960) on the 26th released the early performance of its first overseas regular store, "The Hyundai (THE HYUNDAI)," which opened on the 10th of this month in Omotesando, Tokyo, Japan.
According to the company, visitors in their 20s and 30s to Omokado, the Tokyu Plaza Omotesando complex shopping mall where the store is located, increased more than fivefold compared with before the opening. Sales are running more than 30% above the target the company set, taking into account the concentration of demand right after opening. However, Hyundai Department Store did not disclose the target amount or the actual sales figure.
Some items sold out early. The pumpkin skirt by Koiseio038, which introduced an exclusive new color to coincide with the store opening, sold out of its first weekend stock. Double Lovers sunglasses, Hieta Tylabag, and Stand Oil Mio bucket bag also sold out. The company plans to restock the sold-out items locally within two weeks.
Hyundai Department Store is also focusing on marketing using K-pop groups. A line formed for the photo card giveaway event featuring TWS, the ambassador for The Hyundai in Japan, and a second event is scheduled for next month. Some TWS merchandise sold on the fandom IP platform "WithMU" also ran out early. Cumulative views of local social media (SNS) videos produced with Korean and Japanese influencers have exceeded 20 million.
Hyundai Department Store said that interest in the industry is high, noting that officials from about 60 Asian retailers, including Japan, China, and Taiwan, have visited the store since its opening.
The The Hyundai store is on the third floor of Omokado. With Hyundai Department Store providing end-to-end support for customs clearance, logistics, store operations, and local marketing, tenant brands are centered on domestic small and midsize fashion and lifestyle companies. Hyundai Department Store aims to open around 10 flagship stores of the same format in key Asian hubs, including Japan, Taiwan, and Hong Kong, by 2030.