Lotte Department Store Recognized Worldwide... Ranked Top 10 'Innovative Department Stores'

Efforts to Enhance Employee Welfare

Lotte Department Store was selected as one of the 'Top 10 Most Innovative Department Stores in the World in 2023' at the award ceremony held during the 14th IGDS Global Department Store Summit organized by the International Group of Department Stores (IGDS).

Lotte Department Store Main Branch. [Photo by Lotte Department Store]

Lotte Department Store attributes its selection mainly to the successful introduction of new content last year that captivated both domestic and international customers. Notably, the Jamsil branch introduced around 100 trending brands centered around Lotte World Mall while also hosting over 200 pop-up stores. In May, it held the 'Myeongdong Festival' to help revive the Myeongdong commercial district, which had suffered during the COVID-19 period, and in September, it successfully opened 'Lotte Mall West Lake Hanoi' in Hanoi, Vietnam.

Considerable effort was also devoted to improving employee welfare. Since 2017, Lotte Department Store has implemented a 'mandatory paternity leave system' for male employees, and last year introduced ‘Our Child’s First Step Leave,’ a paid leave program supporting employees when their children enter daycare or kindergarten, as well as ‘Expectant Father Fetal Checkup Leave,’ allowing male employees to accompany their spouses to prenatal checkups. Starting this year, the company plans to expand infertility-related welfare and operate programs supporting prenatal travel.

Lee Cheong-yeon, Head of Planning at Lotte Department Store, stated, "As a result of breaking existing frameworks and trying new approaches in various areas, we were selected among the top 10 most innovative department stores worldwide alongside renowned department stores such as Germany’s KaDeWe and the UK’s Selfridges. We will continue to strive for ongoing innovation to become a department store loved not only domestically but globally."

Meanwhile, IGDS, established in Switzerland in 1946, is the largest and most prestigious department store association worldwide, with 45 famous department stores from 38 countries as members, and it holds events annually on various themes.

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