World’s Largest Department Store Hits $1.5 Billion in Annual Sales Milestone
Shinsegae Department Store’s Centum City has become the first department store outside of Seoul to reach annual sales of 2 trillion won.
The achievement of 2 trillion won (approx. $1.5 Billion) in annual sales is significant, as it’s a record achieved by only a few stores in the Seoul area among 70 department stores nationwide.
According to Shinsegae Department Store Centum City, on the 3rd, this department store achieved annual sales of 2 trillion won in 2023.
Shinsegae Department Store Centum City opened in 2009 as the world’s largest department store. It was designed with a unique character to take advantage of its location in Haeundae-gu, a representative vacation spot in Korea. Unlike other department stores, it significantly increased the experience and leisure space, and it is considered the first lifestyle department store in Korea.
In addition, by bringing in all the major luxury fashion brands, such as Hermes, Louis Vuitton, and Chanel, as soon as it opened, it established itself as a place not only for customers in nearby areas such as Changwon and Yangsan but also for customers in Ulsan, Daegu, Gyeongbuk, and the Yeongnam region (12.1%) and the metropolitan area (13.0%).
By. Hye Hyun Lim