In partnership with Grandview Property, a subsidiary of Laos' largest private enterprise, Kolao Group, the first overseas Factory Store is scheduled to open in Vientiane's Kokkok Mega Mall in the first half of 2025.
The Korean retail giant aims to launch 10 stores in Laos within a decade, part of its strategy to globalize Korean fashion and beauty brands.
The Laotian store will feature over 50 percent Korean fashion inventory, along with popular Korean beauty and accessories at 30-80 percent discounts.
Laos, with a population of 7.7 million, is considered a high-potential market for Korean content due to a strong interest in Korean culture.
Shinsegae has been actively promoting Korean brands internationally through its business-to-business platform, trade shows and pop-up events in various countries.
The company plans to collaborate with renowned department stores worldwide in the latter half of the year.
Park Sang-eon, Shinsegae Factory Store's MD team leader, said this venture initiates a new retail business model for the company.
Shinsegae intends to expand its global influence, focusing on countries with high growth potential for Korean content, particularly in Indochina, he added.
