13 December 2023
The Weekly
South Korea
Lotte Department Store Renovated Food Avenue

Lotte Department Store reopened the Food Avenue after renovating the basement of its Incheon store. The Food Avenue has significantly expanded its space to 11,500m2, more than 2.6x the average 4,300m2 of a regular Lotte Department Store food center. It features ‘Lépicerie,’ a premium grocery store, and ‘L VINO,’ a wine library, as well as a space for restaurants called ‘Gourmet Village.’

In Lépicerie, customers choose fresh fruits, vegetables, meats, and fish, which the staff will wash, clean, fry, grill, and package. As a premium grocery store, it also sells home-grown beef produced from a limited number of 450 cows a year. L VINO brings together more than 2,000 wines priced between hundreds and tens of millions of won from around the world in a wine cellar organized by region, variety, and vintage. Gourmet Village is home to 65 renowned food and beverage stores from Korea and abroad, with 22 of them, or a third of the total, opening for the first time in Incheon. Lotte Department Store’s total food sales, including those from food and beverage and fresh food, increased 10% in the first 11 months of 2023 from the same period last year. Food sales have grown at a fast pace of 20% for two straight years in 2021 and 2022, while the department store business sales and operating profit declined by 2% and 31.8% respectively, in the third quarter of 2023.

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