Shinsegae Opens New Duty-free Store in Seoul
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Burgeoning duty-free retailer Shinsegae opened its second store in downtown Seoul.
As reported, the retailer announced its plans to open the mammoth 13,350sqm outlet in the Central City complex in Seoul’s Gangnam area after being awarded the licence in December 2016. Its opening follows the retailer’s first downtown Seoul store opening in the Myeongdong district in May 2016.
The downtown outlet features both areas dedicated to Korean brands, such as Sulwhasoo and The History of Whoo, and international brands, including Gucci, Estée Lauder and Tiffany & Co, across multiple floor.
The opening comes in the wake of rapid growth from Shinsegae in recent years, with the retailer saying in 2014 it was looking to “aggressively” expand.
Since then Shinsegae has not only opened the Myeongdong downtown store and the new Gangnam outlet in Seoul. The retailer has also secured key retail contracts at Incheon International Airport. In July 2017, it was awarded a fashion contract in terminal two at the airport and the retailer has this month taken on both the concessions vacated by Lotte in terminal one at the airport.
Questions & Answers
Q.What is the primary location of Shinsegae's newest duty-free store in Seoul?
What is the primary location of Shinsegae's newest duty-free store in Seoul?
Shinsegae has opened its second downtown Seoul duty-free store in the Central City complex, located within the city's Gangnam area. This new mammoth outlet spans 13,350 square metres of retail space.
Q.When did Shinsegae secure the licence for its new Gangnam duty-free store?
When did Shinsegae secure the licence for its new Gangnam duty-free store?
Shinsegae was awarded the licence to operate its second downtown Seoul duty-free store in the Gangnam area in December 2016. The new outlet has since opened in the Central City complex.
Q.What types of brands are available at Shinsegae's downtown Seoul duty-free stores?
What types of brands are available at Shinsegae's downtown Seoul duty-free stores?
The downtown outlets feature a mix of brands. There are dedicated areas for well-known Korean brands like Sulwhasoo and The History of Whoo, alongside international luxury brands such as Gucci, Estée Lauder, and Tiffany & Co.
Q.Beyond downtown Seoul, where else has Shinsegae expanded its retail operations recently?
Beyond downtown Seoul, where else has Shinsegae expanded its retail operations recently?
In addition to its downtown Seoul stores, Shinsegae has also expanded its presence at Incheon International Airport. It secured a fashion contract in Terminal Two in July 2017 and recently took over concessions vacated by Lotte in Terminal One.