Shinsegae Factory Store to enter Laos in 2025

South Korea's Shinsegae Department Store announced on Wednesday that its off-price retail chain, Shinsegae Factory Store, will expand its global footprint by opening its first overseas branch in Laos.

The company has signed a master franchise agreement with Grandview Property Sole Co., a subsidiary of the Kolao Group, the largest private conglomerate in Laos.

Under the agreement, Grandview Property will operate Shinsegae Factory Stores in Laos.

The first store is slated to open in the first half of 2025 within the KOKKOK Mega Mall in Vientiane, the capital city of Laos.

Grandview Property aims to open a total of 10 Shinsegae Factory Stores in Laos over the next decade.

Shinsegae Factory Store offers a curated selection of discounted designer and brand-name merchandise, including apparel, accessories, and home goods.

With 17 stores operating in South Korea, Shinsegae Factory Store is known for providing significant discounts on popular brands, often up to 30-80% off retail prices.

The company plans to leverage its expertise and brand recognition to introduce Korean fashion, beauty products, and lifestyle goods to the Laotian market.

Write to Hun-Hyoung Ha at hhh@hankyung.com