Japanese fast-fashion brand Uniqlo's outlet in Seoul's shopping district of Myeong-dong in central Seoul. Aju Business Daily Hong Seung-wan
SEOUL, May 19 (AJP) - Japanese fast-fashion brand Uniqlo is returning to Seoul's major shopping district of Myeong-dong later this week.
The reopening of its Myeong-dong outlet, slated for Friday, comes after most of its stores gradually exited the market about five years ago except for a few key locations, due to South Koreans' boycott of Japanese products over historical spats between the neighboring countries, compounded by declining sales during the coronavirus pandemic.
As tourism has picked up and relations between the two countries have shown signs of improvement, the Japanese retailer appears to be betting on the South Korean market to regain lost ground.
With the closure of its previous largest store at Lotte Department Store in Sogong-dong late last month, the new Myeong-dong outlet will serve as its flagship store, spanning three floors and covering 3,254.8 square meters, with women's, men's, and children's sections all in a single space.
The store also has pickup booths where customers can collect online orders within an hour of purchase, bridging online and in-store shopping. Some 54 fitting rooms are spread across the three floors, including one dedicated to women on the second floor.
On the third floor, a drop-off box for used clothing and garments is also available, along with customization options featuring about 100 embroidery patterns and clothing repair services.
The reopening of its Myeong-dong outlet, slated for Friday, comes after most of its stores gradually exited the market about five years ago except for a few key locations, due to South Koreans' boycott of Japanese products over historical spats between the neighboring countries, compounded by declining sales during the coronavirus pandemic.
As tourism has picked up and relations between the two countries have shown signs of improvement, the Japanese retailer appears to be betting on the South Korean market to regain lost ground.
With the closure of its previous largest store at Lotte Department Store in Sogong-dong late last month, the new Myeong-dong outlet will serve as its flagship store, spanning three floors and covering 3,254.8 square meters, with women's, men's, and children's sections all in a single space.
The store also has pickup booths where customers can collect online orders within an hour of purchase, bridging online and in-store shopping. Some 54 fitting rooms are spread across the three floors, including one dedicated to women on the second floor.
On the third floor, a drop-off box for used clothing and garments is also available, along with customization options featuring about 100 embroidery patterns and clothing repair services.
Japanese fast-fashion brand Uniqlo's outlet in Seoul's shopping district of Myeong-dong in central Seoul. Aju Business Daily Hong Seung-wan
Uniqlo's return to Myeong-dong comes as it recovers in South Korea, posting 1.35 trillion won in sales last year, up 27.5 percent from 1.06 trillion won a year earlier, after its revenue fell sharply, with sales dropping from 1.38 trillion won in 2019 to 629.8 billion won in 2020 and 582.4 billion won in 2021, prompting it to close its Myeong-dong store in 2021.
It is also attributed to the district's recent recovery, driven by an increase in foreign tourists and fading consumer resistance to Japanese brands.
"We hope the store will become a new landmark in Myeong-dong by offering the full lineup for South Korean shoppers and visitors from around the world," said Takao Kuwahara, co-CEO of FRL Korea, the joint venture that operates Uniqlo, during a press tour on Tuesday ahead of the store's grand opening.
It is also attributed to the district's recent recovery, driven by an increase in foreign tourists and fading consumer resistance to Japanese brands.
"We hope the store will become a new landmark in Myeong-dong by offering the full lineup for South Korean shoppers and visitors from around the world," said Takao Kuwahara, co-CEO of FRL Korea, the joint venture that operates Uniqlo, during a press tour on Tuesday ahead of the store's grand opening.
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