Sephora opened its third shop Friday in Sinchon, a trendy university district, in collaboration with Hyundai Department Store. The 232-square-meter store is located on the first floor of Hyundai Department Store’s U-Plex. Last year, French luxury conglomerate LVMH’s Sephora launched its first store in Parnas Mall in the posh district of Gangnam in October and its second shop in Lotte Young Plaza in the Myeong-dong shopping district in December.The multibrand cosmetics store in Sincho

Lotte Mart said Sunday it will open two Honey Butter Almonds stores, following the snack’s popularity among foreign customers. According to the company, Honey Butter Almonds was recorded as the most popular snack product by foreign customers, posting the highest sales in the previous two years, with sales rising by 18.2 percent in 2018 and 7.9 percent in 2019 at Lotte Mart outlets. To meet the trend, Lotte Mart said it will open two Honey Butter Almonds stores in Seoul Station and Gim

New Jinro hits 100 million bottles in sales less than a year after launch

Shake Shack will roll out the limited-edition Roasted Garlic Mushroom Burger in South Korea on Monday. According to the chain’s Korean operator SPC Group, the burger is the first new menu item of the year.  It comprises Angus beef patty, deep-fried shallots and Portobello mushroom, topped with garlic mayonnaise sauce and provolone cheese inside a potato bun, the company said. It will be priced at 8,900 won ($7.66).Along with the new burger, Roasted Garlic Mayo Fries will be available

Korean e-commerce giant Coupang is preparing for an initial public offering as early as 2021, according to industry sources on Thursday. Citing anonymous officials, Bloomberg reported that Coupang has begun gearing up for an IPO, starting with tax structuring. Established in 2010 by CEO Kim Bom, Coupang was valued at $9 billion at the end of 2018. Amid rumors that the SoftBank-backed company would go public, Kim said he had mulled the option -- the “most difficult” in his career -- i

Shinsegae Department Store said Tuesday its Gangnam branch recorded annual sales of 2 trillion won ($1.71 billion) in 2019, becoming the first single store to do so in the retail industry in South Korea.According to Shinsegae, its Gangnam branch in Seoul saw annual turnover exceed 1 trillion won in 2010, hitting the milestone just 10 years after it opened.  With the 2019 record, the department store joins the “2-trillion club” to stand shoulder to shoulder with global department

Samyang Group Chairman Kim Yoon said in his New Year’s address that the company would overcome challenges and prepare for the future this year. During a New Year’s meeting on Thursday, he also vowed to make bold overseas investments, acknowledging that the group’s assets and business activities are overly focused on the Korean market.  “Both markets at home and abroad will be much more difficult this year,” Kim said, suggesting four strategies for the group&rsq

McDonald’s said Thursday that its coffee brand McCafe has newly launched decaffeinated coffee drinks with the aim of attracting local customers who are sensitive to caffeine and heavy coffee drinkers.According to the company, McCafe will present four decaffeinated coffees -- Americano, McCafe Latte, Cappuccino and Espresso -- to offer a variety of choices for customers seeking to control their daily caffeine intake.The drinks in medium-sized cups cost between 1,000 won ($0.86) and 2,000 wo

With 2020 marking the “Year of the White Mouse,” retailers rolled out mouse-inspired products, luring consumers with limited edition goods and special marketing in celebration of the new year. Based on the Chinese zodiac, the white mouse is the first of the 12 animals and considered the leader of the mice, symbolizing wealth, fortune and prosperity. Due to ambiguity in the Chinese characters, 2020 may also be referred to as the Year of the Metal Rat. According to Starbucks Korea, it

Coupang said Monday it would build a high-tech mega fulfillment center in the Daegu National Industrial Complex, in Daegu. Holding the groundbreaking ceremony, the e-commerce platform said it will invest 320 billion won ($276 million) to build a mega-sized fulfillment center covering 330,000 square meters, that is equivalent to about 45 soccer fields. The construction is expected to be completed in 2021. According to Coupang, the fulfillment center will serve as the key hub in the company&r

Sports beauty company Powerful-X has been recognized for its contributions to the development of the sports industry, winning this year’s Sports Marketing Award given by the Ministry of Culture, Sports and Tourism as well as the Korean Sports and Olympic Committee. The health care cosmetics company, known for its pain relief cream, won at the fifth annual Sports Marketing Award ceremony for athletes, organizations and companies that contributes to development in the sports industry by the

EBay Korea, which operates South Korea’s leading online retailers Gmarket, Auction and G9, chose “Hyolo” as its keyword for shopping trends in 2020, reflecting the increasing number of shoppers living alone and their desire to live life to the fullest. Hyolo combines the Korean word “holo,” which means “alone” in English, and “YOLO,” the acronym for “You Only Live Once.” EBay Korea forecast that the major consumer segment in 2020