Hyundai Department Store will officially open the new store’The Hyundai Seoul’ in Yeouido, Seoul on the 26th, the largest department store in Seoul. Photo = Provided by Hyundai Department Store
Hyundai Department Store(83,300 +2.97%)On the 26th, the new department store’The Hyundai Seoul’ with the largest business area in Seoul will be opened. The Hyundai Seoul plans to introduce a’future department store model’ as a new store opened by Hyundai Department Store in Seoul after 19 years. Amid the crisis of a novel coronavirus infection (Corona 19) that hit offline retail prices, it threw a battle with a nature-friendly interior and space composition that applied the concept of’retail therapy (healing through shopping)’.
The largest business area in Seoul… Nature-friendly future department store
Hyundai Department Store will officially open the new store’The Hyundai Seoul’ in Yeouido, Seoul on the 26th, the largest department store in Seoul. Photo = Provided by Hyundai Department Store
Hyundai Department Store announced on the 23rd that it will officially open’The Hyundai Seoul’ on the 26th after pre-opening on the 24th and 25th.
The Hyundai Seoul has 7 floors below the ground and 8 floors above the ground with an operating area of 89,100 square meters. It is comparable to Hyundai Department Store’s Pangyo branch (92,416㎡), the largest in Seoul and the largest in the metropolitan area.
Hyundai Department Store put out’unprecedented’ and’innovation’ as key keywords. The idea is to provide relaxation and healing of life to customers who are tired of the body and mind amid the prolonged period of Corona 19 through a nature-friendly interior and space composition.
Hyundai Department Store explained that it focused on providing a’retail therapy’ experience, an innovative space design with the concept of nature, enhancing shopping convenience through curation-based store arrangements, and building a safe shopping environment taking into account the era of With Post Corona.
In line with the concept of the’nature-friendly future department store’, it is characterized by expanding the space for rest and movement for customers, instead of reducing the’store area’, which is a product sales space. Only 51% of the total operating area is occupied by the store area (45,527m2). The other half of the space was decorated with interior landscaping or customer rest areas.
An official at Hyundai Department Store said, “The ratio of the store area to the operating area of The Hyundai Seoul is about 30% (14% points) lower than the average (65%) of the 15 stores in Hyundai Department Store.” “I explained.
Nest in Yeouido Complex Cultural Facility’Park One’… 630 billion won in first year sales
Hyundai Department Store will officially open the new store’The Hyundai Seoul’ in Yeouido, Seoul on the 26th, the largest department store in Seoul. Photo = Provided by Hyundai Department Store
Hyundai Department Store proposed a goal of generating 630 billion won in sales for one year after the opening of The Hyundai Seoul, based on its locational strengths and convenient transportation network of’Park One’, a cultural complex. Annual sales are expected to reach 700 billion won in 2022.
In Park One, where The Hyundai Seoul was founded, two office buildings and’Fairmont Ambassador Seoul’, a global luxury hotel, are expected to have a synergy effect. The Hyundai Seoul is connected to Yeouido Station of Subway Lines 5 and 9 through an underground walkway, making it convenient to access by public transportation.
In addition, Yeouido, along with Gwanghwamun and Gangnam, is one of the three major urban centers in Seoul, and is also a political and financial hub. The Hyundai Department Store is a strategy to actively attract customers from the Seoul and metropolitan areas as well as Yeongdeungpo-gu, Dongjak-gu, Mapo-gu, and Yongsan-gu, the core commercial districts within a 3km radius of Seoul.
An official at Hyundai Department Store said, “If the Corona 19 situation calms down and the construction of a wide-area transportation network is completed, the growth of’The Hyundai Seoul’ will be even steeper.”
More than 600 brands opened… Curated store layout
Hyundai Department Store will officially open the new store’The Hyundai Seoul’ in Yeouido, Seoul on the 26th, the largest department store in Seoul. Photo = Provided by Hyundai Department Store
More than 600 domestic and international brands with high recognition will be launched in The Hyundai Seoul. In particular, it is characterized by the fact that all the floors are arranged in a curation method according to each theme, away from the existing store composition method, which was divided by floors based on product groups such as overseas, women’s, men’s fashion, and living.
First of all, a’Creative Ground’ aimed at the MZ generation (millennials + Z generation) will be built on the second basement floor. Including the first store in Asia of’ARKET’, the top-level manufacturing and distribution (SPA) brand of H&M Group,’BGZT (Lightning Market) Lab’, a store specializing in sneakers reselling, and’Yongjeong Collection’, a luxury watch resell shop, Seoul There are many stores that are difficult to find in domestic department stores, such as’Point of View’, a stationery store in Seongsu-dong.
On the first basement floor, the largest global food center in Korea,’Tasty Seoul’, which is larger than two soccer fields combined, was built with a size of 14,820m2.
Luxury goods that are currently leading the sales of department stores gather on the first floor. More than 30 overseas fashion and luxury brand stores, including Gucci, Prada, Bottega Veneta, Burberry, and Valenciaga, will be opened in the’exclusive label’, which means’unique luxury’. Over 30 domestic and foreign cosmetic brands are also entering stores.
An official at Hyundai Department Store said, “We are currently in discussions with a number of famous luxury brands such as Louis Vuitton, and we plan to continue to reinforce luxury brands even after the store opens.”
On the second floor, an overseas contemporary clothing store and’Modern Mood’, a specialty shop for luxury shoes, will be built. Global lifestyle brands such as British premium spa brand’Bamford’ and Italian barber shop’Babenoris’ are opening for the first time in the domestic distribution industry.
On the 5th floor, children’s brand stores, such as’Studio Petit’, an editorial store specializing in kids, and’Play in the Box’, a kids YouTube experience space, will be built around the indoor green park’Sounds Forest’. The Samsung·LG Mega Store, the largest consumer electronics store in the department store, is also opening.
Hyundai Department Store is planning to introduce and operate the best quarantine system in domestic offline stores in The Hyundai Seoul, taking into account the situation with Corona. A’large multiple recognition heat checker’ used in airports, etc. is installed at the external entrances (7 locations).
An official at Hyundai Department Store added, “Including’Uncommon Store’, an unmanned store on the 6th floor, spaces and services that combine’Retail-tech’ will also be presented.”
Reporter Oh Jung-min Hankyung.com [email protected]
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