Hyundai Department Store's Unique Strategy Increases Profits Despite Competitors
Creatrip Team
a year ago
Hyundai Department Store, which has focused on attracting the MZ generation (Millennials and Gen Z) with unique pop-up stores and restaurants, reported a profit increase. This is a contrast to the overall downturn due to a weak duty-free segment. Despite challenges like increased regular wage burdens, the department store's profits rose by 0.8%. However, duty-free sales fell by 2.6%, impacting the overall group performance. The company plans to increase dividends paid to shareholders this year, aiming for growth by 2027.
