Shinsegae Factory Store, the off-price retail chain operated by Shinsegae (004170) Department Store, said on the 13th that it will hold its largest sale of the year.
The chain will offer merchandise at 30% to 80% off regular prices at 23 stores nationwide for four days, from Oct. 15 to Oct. 18. An additional discount of up to 20% brings total savings to as much as 85%.
Shinsegae Factory Store completed a rebranding in July, including a new store design, as part of an effort to recast itself as a younger and more dynamic brand. For this sale, the chain strengthened its lineup around luxury imports and K-fashion favored by younger shoppers, reflecting the shift in its customer base since the rebranding. In beauty and lifestyle, it also expanded inventory from popular brands including Brownbreath, Aeca White, 8Seconds and Olzen to widen the range of options.
The chain is also offering gifts and rewards based on purchase amounts. At the Gangnam store, shoppers who spend above a set threshold will receive 7% of that threshold amount back as rewards. The Centum City, Goyang, Times Square, Gimhae, Uijeongbu, Daegu and Jukjeon stores are offering various gifts tiered by purchase amounts starting at 200,000 won.
"Along with this event, Shinsegae Factory Store plans to grow into a landmark of the domestic off-price market, building on the increase in visitors and sales growth since the recent rebranding," said Park Sang-eon, executive director of the new retail division at Shinsegae Department Store.