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Shinsegae Gangnam Branch Surpasses 3 Trillion Won in Sales for Third Consecutive Year... "Aiming for 4 Trillion Won Next Year"

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Shinsegae Gangnam Branch Surpasses 3 Trillion Won in Sales for Third Consecutive Year... "Aiming for 4 Trillion Won Next Year"

On November 7, Shinsegae Department Store Gangnam Branch became the first among domestic department stores to surpass a cumulative annual sales (transaction amount) of 3 trillion won this year. This marks the third consecutive year since 2023 that the branch has exceeded 3 trillion won in sales, achieving this milestone two months earlier than in 2023 (December 24) and about three weeks earlier than last year (November 28), setting a new record for the fastest achievement. The company attributed this success to continuous investment and spatial innovation, which have strengthened its core competitiveness. The Largest and Most Diverse Luxury Lineup, Exclusive and First-Ever Stores in Korea Shinsegae Department Store Gangnam Branch achieved this result by offering the largest luxury lineup among single-location department stores in Korea. This year, luxury sales accounted for 40% of the branch's total sales. The branch houses approximately 100 stores featuring the three major luxury bran

"Duty-Free Losses Narrow"... Shinsegae Q3 Operating Profit Up 6.2%

"Duty-Free Losses Narrow"... Shinsegae Q3 Operating Profit Up 6.2%

Shinsegae reported growth in both revenue and operating profit for the third quarter of this year, driven by improved performance in its duty-free business segment. According to the Financial Supervisory Service's electronic disclosure system on November 7, Shinsegae posted an operating profit of 99.8 billion won during this period, a 7.3% increase compared to the same period last year. Revenue rose 6.2% to 1.6361 trillion won, and net profit increased by 32% to 48.3 billion won. Compared to market estimates from three securities firms, which projected revenue of 1.629 trillion won and operating profit of 101.5 billion won, the actual operating profit was slightly below expectations. Department Store Division Shows Investment Results... Main Branch 'The Reserve' Renewal Draws AttentionThe core department store business saw a slight increase in overall revenue, but profitability declined as Shinsegae expanded strategic investments such as renovations. Department store revenue reached 62

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11.07 14:50

Lotte Mall Hanoi Achieves Record Results, but Lotte Shopping's Operating Profit Falls (Comprehensive)

Lotte Mall Hanoi Achieves Record Results, but Lotte Shopping's Operating Profit Falls (Comprehensive)

Lotte Shopping showed growth in its department store division in the third quarter of this year, but profitability deteriorated due to weak performance in its grocery business. The company posted a net loss for the quarter, as it incurred investment losses from withdrawing from the 'KTX Ulsan Station Integrated Transfer Center Project.' However, Lotte Mall Westlake Hanoi achieved record-high results, demonstrating growth potential in overseas markets. According to the Financial Supervisory Service's electronic disclosure system on November 7, Lotte Shopping's operating profit for the third quarter was 130.5 billion won, a 16% decrease compared to the same period last year. Revenue fell 4.4% year-on-year to 3.4106 trillion won. Both figures were below the consensus estimates of over three securities firms, which projected revenue of 3.5175 trillion won and operating profit of 141.7 billion won. The company posted a net loss of 48.7 billion won, shifting to the red. This was due to a rea

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11.07 10:41

[Reporter’s Notebook] Small Capital Startup Owners Ultimately Hope for a Lottery Win

[Reporter’s Notebook] Small Capital Startup Owners Ultimately Hope for a Lottery Win

"Now, the only answer is the lottery. Buying a lottery ticket before heading to my shop on Monday has become my routine." While covering the feature article "The Trap of Small Capital Startups," I ended up exchanging jokes with fellow business owners my age. When I mentioned going to buy a lottery ticket before opening the shop, someone replied, "Shouldn't you be hoping for lots of customers and a booming business instead?" But the answer came back that winning the lottery is the only way to pay off the debt incurred at the time of starting the business. It's not that business is bad. His small beer pub, located in a busy area of the Seoul metropolitan area, is always bustling with customers despite its modest size. On good days, daily sales can reach 2.5 million won. And yet, he relies on the lottery, which is statistically a losing game. What has driven him to this point? Many novice business owners, often called "prospective entrepreneurs," choose to open franchise stores with guara

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11.07 10:18

[Today’s New Product] Firm Skin Without Lifting Procedures... Amorepacific "ONFACE LED Mask"

[Today’s New Product] Firm Skin Without Lifting Procedures... Amorepacific "ONFACE LED Mask"

Amorepacific’s beauty device specialist brand Makeon announced on November 7 the official launch of the ONFACE LED Mask. The ONFACE LED Mask was created by combining Amorepacific’s expertise in skin science with patented LED technology from KAIST. The mask features 3,770 patented micro red LEDs, each as small as 0.2㎟?as thin as a strand of hair?arranged seamlessly in a “surface” formation rather than as individual dots to cover the entire face. Human application tests confirmed its skin improvement effects, including a 94% increase in skin elasticity recovery and a 1,795% increase in elastin, a key component of skin firmness. This product is designed with an external shell to protect the chips from external impact, a Face Cloud Fit design that adheres closely to the contours of the face, and a detachable magnetic see-through window structure for various usage environments. When used for 15 minutes, the mask maintains a skin temperature of 36 degrees Celsius and an internal mask tempera

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11.07 10:11

LG Twins Win Korean Series V4... LG H&H to Give Away Kkanbu Chicken

LG Twins Win Korean Series V4... LG H&H to Give Away Kkanbu Chicken

LG Household & Health Care announced on November 7 that it will launch a special promotion to celebrate the LG Twins’ fourth overall victory (V4) in the Korean Series. From November 7 to 16, LG Household & Health Care will offer a variety of discounts and prize benefits, focusing on cosmetics and household goods, through both online and offline channels. On its official online mall, the company will hold up to 50% discounts or buy-one-get-one-free events on flagship products from each brand. Participating beauty products include: Belif Moisturizing Bomb Cleanser & Cleansing Pad Set, CNP Professional Solution Sensitive Single Essence, SU:M37° Time Energy Bright Clay Pack Cleanser, OHUI Miracle Toning Glow Serum, Glint by VDIVOV Marble Highlighter, and Fresian Glasslike Lip Jelly. In addition, Beyond will offer a range of products such as body wash, body emulsion, and soft foam at discounts of 40?50%. The newly launched all-in-one beauty device, “LG Pra.L Superform Thermashot Ultimate,”

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11.07 09:34

Jeximix Enters Taiwan's Largest Department Store in Taipei

Jeximix Enters Taiwan's Largest Department Store in Taipei

On November 7, Jeximix, an athleisure company, announced that it will hold a pop-up event at the Zhongxiao branch of Pacific SOGO Department Store in Taipei, Taiwan. The Zhongxiao branch of Pacific SOGO Department Store is the largest premium department store in Taiwan, attracting leading international fashion and beauty brands. Many Korean brands, including LG, Samsung, Sulwhasoo, Laneige, Innisfree, Hazzys, MLB, and CheongKwanJang, have also opened stores there. The pop-up, which runs until November 18, will showcase a variety of athleisure apparel, including the locally popular Running RX series. In particular, carefully selected categories such as golf wear and business wear will be introduced to Taiwanese customers. Taiwan, which hosts numerous international golf tournaments, has well-developed golf infrastructure, especially in the Taipei and Kaohsiung areas, and the number of golf enthusiasts continues to grow each year. With this pop-up, Jeximix plans to strengthen its product

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11.07 09:28

Lotte Shopping Posts 130.5 Billion Won Operating Profit in Q3, Down 16% Year-on-Year

Lotte Shopping Posts 130.5 Billion Won Operating Profit in Q3, Down 16% Year-on-Year

Lotte Shopping announced on November 7 that its operating profit for the third quarter reached 130.5 billion won, marking a 16% decrease compared to the same period last year. According to the Financial Supervisory Service's electronic disclosure system on the same day, Lotte Shopping's sales amounted to 3.4106 trillion won in the third quarter, down 4.4% from the previous year. Net profit for the period turned to a loss of 48.7 billion won. The consensus estimates from more than three securities firms had forecasted sales and operating profit at 3.5175 trillion won and 141.7 billion won, respectively, indicating that the third-quarter results slightly fell short of these expectations.

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11.07 09:23

Foreign Customers Enjoyed 'SSG Day' Too... Shinsegae Duty Free Sales Up 21%

Foreign Customers Enjoyed 'SSG Day' Too... Shinsegae Duty Free Sales Up 21%

Shinsegae Duty Free announced on November 7 that, as a result of introducing promotions targeting foreign customers during the SSG Day event, sales to foreign customers increased by 21% compared to the same period last year after just one week of the event. According to Shinsegae Duty Free, foreign customer sales from October 30 to November 5 rose by 21% year-on-year. The number of unique visitors also increased by 253% (more than threefold), attributed to the launch of the foreign customer hub pages in English and Chinese.SSG Day is an event in which major online and offline affiliates of Shinsegae Group participate. This year marks its sixth edition. From October 30 to November 9, Shinsegae Duty Free is running promotions across all channels, including the Myeongdong branch, Incheon Airport branch, and its online mall. This year, new benefits have been prepared for foreign customers, including 2,000 won in duty-free points usable both online and offline, and benefits worth up to 170,

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11.07 09:14

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