What: The Hyundai Seoul, the newest Hyundai location in Seoul, is the most successful new retail venture in recent times.

Why it is important: It's all about the experience, in a much differentiated manner when compared to the rest of the national operators, Shinsegae and Lotte.

The Hyundai Seoul, a department store in western Seoul, achieved over 1 trillion won in sales in just under three years (2 years and 9 months), setting a record among Korean department stores despite not featuring luxury brands like Hermès, Louis Vuitton, and Chanel. This success, surpassing the previous record held by Shinsegae Department Store's Daegu branch, is attributed to the store's innovative approach, appealing particularly to younger generations and foreign customers.

Key to The Hyundai Seoul's success has been its focus on creating a visually appealing and experiential shopping environment. Half of its space is dedicated to 'Instagrammable' relaxation areas, and it was the first to bring popular online fashion brands into a department store setting. The store has hosted over 320 pop-up events, including various cultural and trendy themes, significantly attracting younger customers.

Foreign customer sales, particularly among the 20 to 30 age group, have soared by 891.7% year-on-year, largely due to the store's continuous offering of K-pop idol group-related pop-ups, featuring bands like BTS and Blackpink. This strategy significantly contributed to The Hyundai Seoul's rapid achievement of the 1 trillion won sales milestone.

The Hyundai Seoul becomes fastest store to hit 1 trillion won milestone