The Hyundai Department Store, a major South Korean retailer, launched Hyundai Global on Sunday. This ground-breaking platform aims to place the country’s native fashion and entertainment businesses in well-known international retail locations.
The new platform will provide small and medium-sized Korean firms with a strategic strategy to reach overseas markets without the typical financial difficulties that come with doing business abroad. As compared to direct international entry, domestic brands will save over thirty percent by significantly lowering costs associated with interior design, sales commission agreements, and space leasing.
Additionally, it will act as a thorough facilitator, handling all aspects of logistics such as product import and export, inventory control, and customs clearance, as well as arranging store sites and operational plans with top global retailers.
This development follows a surge in interest in Korean content throughout the globe for anything from fashion to webtoons, as seen by Hyundai Seoul, the country’s largest department store, receiving praise for its creative partnerships and content.
According to a representative of the Hyundai Department Store, “It will elevate the brand value of Hyundai and expand our business model in tandem with domestic brands.”
