South Korean department store Shinsegae has opened its first overseas off-price store in Vientiane, Laos, marking the international debut of its Factory Store format. The outlet at KOKKOK Mega Mall Patuxai branch operates under a franchise arrangement with Grand View Property, part of Laos-based Kolao Group, and covers approximately 1,320 square meters. Shinsegae plans to use the Vientiane location as a base for extending its franchise model to further Southeast Asian markets, with Thailand and Vietnam among those under consideration. The company also anticipates the overseas expansion will help ease inventory pressures by creating additional sales outlets abroad for end-of-season stock from South Korean brands. The news comes as Shinsegae's consolidated operating profit for the second quarter climbed 121.9% year-on-year to Won167.1bn, while net sales rose 5.1% to Won1.78tn.
ShinsegaeOpens first overseas off-price store in Laos, expanding market reach and easing inventory pressures.
