What: Lotte Department Store launches Sporty & Rich's first global department store location at Avenuel Jamsil, featuring exclusive Seoul-themed collections and expanded lifestyle categories.

Why it is important: This strategic partnership demonstrates how department stores are evolving to capture the growing 'Young Rich' demographic while blending international luxury brands with local relevance.

Lotte Department Store has achieved a significant retail milestone with the opening of Sporty & Rich's first-ever department store location on the fifth floor of Avenuel Jamsil. The American brand, founded by Emily Oberg in 2014, has evolved from an online magazine into a coveted fashion brand that embodies wellness, sportswear, and luxury. The store, which faithfully reproduces the aesthetic of the brand's New York flagship, introduces 200 products for the spring-summer season, including an exclusive Seoul Limited Edition Capsule Collection. The brand's retro-style and minimal logos, reminiscent of 1980s and 1990s sports casual wear, have garnered significant following among global "Young Rich" consumers and celebrities. The location will expand beyond its women's line to include men's, kids, and cosmetics categories, with prices ranging from KRW 129,000 for accessories to KRW 390,000 for premium items.

IADS Notes: The launch of Sporty & Rich's first department store at Lotte's Avenuel Jamsil branch aligns with significant transformations in Korean retail strategy. This move builds upon Lotte's October 2024 announcement of a 7 trillion won investment plan focusing on luxury retail and younger demographics. The Jamsil location's success is evident in its December 2024 achievement of 3 trillion won in annual sales, driven by the "Lotte Town Effect" that attracts diverse customer segments. The introduction of Sporty & Rich complements Lotte's March 2024 partnership with Musinsa Standard, demonstrating the retailer's commitment to capturing the growing "Young Rich" demographic. This strategic positioning reflects broader industry trends, as Korean department stores pivot towards premium lifestyle offerings amid slowing growth, which fell below 1% in January 2025. The exclusive Seoul Limited Edition collection follows successful localization strategies seen across Korean retail, where department stores increasingly blend international luxury with local relevance.

Lotte unveils world’s first department store location of Sporty & Rich