Lotte Department Store's 'Main Branch + Jamsil Branch' Sales Soar Past 4 Trillion Won... Avenue L Jamsil Luxury Sales Near 1 Trillion Won
Owning Two Department Stores Worth Over 2 Trillion Won
Avenuel Jamsil Luxury Department Store Sales Reach 1 Trillion Won
Lotte Department Store is solidifying its position as the 'number one shopping destination' by securing two stores with sales exceeding 2 trillion won this year.
According to Lotte Department Store on the 21st, the main store is expected to surpass 2 trillion won in sales this year. Last year, it recorded a record high sales of 1.9343 trillion won, and this year it has once again set a new sales record. It is analyzed that efforts to upgrade the store by renewing the men's overseas fashion specialty hall in 2021, followed by women's, food, and beauty product sections in 2022, have contributed to this achievement.
This year, sales from foreign tourists have increased about fourfold compared to last year, thanks to events such as the 'Myeongdong Festival' held in cooperation with Seoul City, and attracting globally popular 'K-Fashion' brands like Matin Kim and Anderson Bell.
The Jamsil branch is also expected to achieve sales in the high 2 trillion won range this year (2.5982 trillion won last year). The success is attributed to the introduction of Korea's first flagship stores and F&B outlets, as well as large-scale experiential pop-ups held in the atrium plaza, which attracted MZ generation customers. Lotte Department Store plans to strengthen these aspects and aims to achieve 3 trillion won in sales next year.
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Notably, this year, AvenueL Jamsil became the first luxury store in Korea to achieve 1 trillion won in sales as a single luxury hall. AvenueL Jamsil in March this year established 'The Crown,' a luxury brand-exclusive pop-up space targeting the highest-end demand on the existing basement level 1, showcasing leading products and trends from top brands such as Bottega Veneta, Louis Vuitton, Chlo?, IWC, and Tiffany.
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