CJ Foodville "The Place Yeongdeungpo Times Square Branch, Sales Up 63% After Renewal"

Sales in December Last Year Increased by 146% YoY
Weekend Reservations 3.3 Times Higher... "Thanks to Specialized Strategy"

The Place Yeongdeungpo Times Square Branch. Photo by CJ Foodville

[Asia Economy Reporter Moon Hyewon] CJ Foodville announced on the 9th that sales at ‘The Place Yeongdeungpo Times Square branch’ increased by more than 63% after its renewal opening.

In April last year, CJ Foodville renewed and reopened The Place Yeongdeungpo Times Square branch, located in Yeongdeungpo-gu, Seoul, as a steak & wine enhanced store. Analyzing the performance for eight months before and after the renewal opening, sales increased by about 63% or more. Sales in December last year, when year-end gatherings were concentrated, rose by approximately 146% compared to the same period the previous year. Weekend reservation rates also increased by about 3.3 times compared to before the renewal.

CJ Foodville evaluates that these results are due to focusing on customer experiences that can be encountered ‘only here’ by reflecting the characteristics of each commercial district.

The specialized steaks introduced only at this location have received high customer response, leading to their recent introduction in most stores. These include the T-bone steak 'Bistecca alla Fiorentina,' which allows customers to taste both tenderloin and sirloin cuts at once, and 'Bistecca & Lobster,' which offers sirloin steak, octopus, and lobster together.

A wine lounge was set up at the store entrance to differentiate it from existing stores. The wine selection includes about 50 varieties. Wines that pair well with steak, pizza & pasta, and antipasti (Italian appetizers) are separated by section, and sommelier staff recommend wines along with basic information about them.

CJ Foodville is accelerating the expansion of specialized stores in major commercial districts such as Hongdae and Yeouido.

The ‘Yeouido IFC branch’ was expanded and renewed by increasing seating capacity by about 70% compared to the existing store. Considering weekday office workers and special weekend dining demand, it was positioned with a ‘fine casual dining’ concept that offers luxurious taste and atmosphere at reasonable prices. Specialized elements such as single-person steak lunch on weekdays, live pizza ovens, and wine bars were added. Since the renewal opening, sales have increased by about 246% compared to the same period last year.

The ‘Hongdae L7 branch,’ located inside a hotel, was designed as a space where customers can enjoy the sunset and night view from a high floor sky view while dining in an atmospheric setting. Considering various customer groups such as domestic and international tourists, couples, and business meeting visitors, limited menus are offered, and it is known that there is also high demand for alcoholic beverages during evening hours.

A CJ Foodville official said, “The Place is a popular brand with a loyal fan base because it offers a variety of Italian menus at the level of fine dining restaurants in a sophisticated space at reasonable prices,” adding, “We will focus on qualitative upgrading according to the characteristics of commercial districts by maximizing the strengths of the brand and strive to create more diverse customer value.”

This content was produced with the assistance of AI translation services.