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Sales at Korea department stores fall by 14.2%


According to the Ministry of Trade, Industry and Energy, the sales of Lotte, Shinsegae and Hyundai department stores in the first half of the year fell by 14.2 percent compared to last year.

Galleria Department Store, which has comparatively more international high-end fashion labels at its branches than its competitors, was the only franchise that showed a sales increase between January and June, recording 4 percent.

Lotte recorded a 16 percent sales drop, followed by Hyundai and Shinsegae with a respective 10 percent and 7 percent.

Galleria only operates five outlets around the country and it has been focusing on attracting the "superrich" in different regions.

In September last year, it opened a separate facility outside its Daejeon department store for VIP customers only called ‘Maison Galleria.; The store invited selected customers and exclusively introduced them to its latest luxury items.

Shinsegae also collaborated with Louis Vuitton to promote the men's fall and winter collection, for the first time, at a pop-up store in it Gangnam branch July 31. The branch previously opened temporary boques for Prada in January, Chanel in June and Bottega Veneta last month.