Lotte Department Store is opening its seventh outlet store in the country this week at Seoul Station, the shopping group said on Thursday. Also known as factory outlets, such stores mostly sell carry-over products at discounted prices.
The new store, located where Galleria Concos Department Store formerly stood, will take up the second to fourth floors of the same building and cover 37,000 sq. m.
Lotte believes the venue and location will provide greater ease of access for shoppers given its unrivaled links to subways, trains and buses.
Carry-over products of about 120 fashion brands will be sold there at discounts of between 30 and 70 percent.
"We expect to draw many local customers who travel on KTX trains and foreign tourists using the airport railroad subway line," said branch manager Choi Kyung. "To accommodate them, we've produced information leaflets in four languages -- Korean, Japanese, Chinese and English."
Unlike department stores and large discount stores, which have reported sluggish sales due to the economic slowdown, outlet stores are enjoying brisk business. Sales at Lotte Department Store's outlets exceeded the W1 trillion (US$1=W1,058) mark last year.