Parco Shibuya (Image courtesy of Hyundai Department Store)
SEOUL, Apr. 1 (Korea Bizwire) – Hyundai Department Store is venturing into a new platform business aimed at boosting the global reach of Korean fashion brands and K-content like entertainment.
The retailer has launched The Hyundai Global, a dedicated export platform that will discover content for overseas markets, handle logistics like customs clearance and inventory management, and facilitate direct negotiations with prominent international retailers to secure store locations.
Japan will be the first market tackled by The Hyundai Global. In April, Hyundai Department Store plans to sign an agreement with Japanese retail group Parco to open a series of pop-up stores across major cities, starting with Parco’s Shibuya location in Tokyo.
The Shibuya pop-up, scheduled for May, will debut the Noice brand, followed by rotating pop-ups for 11 other labels like EMIS, Matin Kim, and Mischief. K-entertainment offerings like guest appearances by actor Park Seo-joon are also in the works.
Going forward, Hyundai aims to primarily feature competitive small and medium-sized domestic brands at most of its The Hyundai Global locations.
Brands like Matin Kim and EMIS, which originated online before successfully expanding into Hyundai Department Store’s offline retail network, are seen as having strong potential to make the leap to global brands.
The retailer plans to serve as a launchpad to help cultivate these Korean labels into internationally renowned names. Domestic brands are expected to reduce costs by over 30% compared to directly entering overseas markets through this platform.
For Hyundai Department Store, which has differentiated itself with innovative offerings like The Hyundai Seoul, the global expansion presents an opportunity to raise its international profile.
According to the company, retailers from China, Southeast Asia and other regions have already expressed interest in collaborating, including a recent agreement with Thailand’s Siam Piwat group to operate a K-content boutique.
“The launch of The Hyundai Global is significant in that it demonstrates our internationally recognized ability to continually introduce brands and content that could not be experienced offline through conventional department stores,” said Hyundai Department Store CEO Jung Ji-young.
“Moving forward, we will strive to become a global network platform that provides impressive experiences to more customers while fostering growth alongside Korean fashion brands.”
Ashley Song (ashley@koreabizwire.com)
