IADS launches "IADS Retail Park": An AI-generated podcast turning retail insight into audio intelligence

The International Association of Department Stores (IADS) is proud to announce the launch of Retail Park, an AI-powered weekly podcast that transforms written insights into conversational audio, offering retail professionals a fresh and efficient way to stay informed.

Retail teams today are drowning in information but starving for meaning. Between dashboards, presentations, and constant communications, there's often little time to digest the why behind the what. Audio fills that gap by enabling passive yet meaningful learning, allowing retailers to learn while they do. The podcast format is a popular choice, as it combines consumption on the go with attention maximisation, which is why more than 500 million users are active podcast subscribers worldwide.

Department stores have already embraced the format. TheChalhoub Grouplaunched in 2021 The Podcast by Chalhoub Group, featuring regular conversations with internal leaders, partners, and industry figures on topics such as innovation, sustainability, and organisational culture, making it one of the few department store group podcasts consistently produced. El Corte Inglès' Ambito Culturalregularly invites writers, singers and artists on air, similarly to the events organised in their stores under the same name. Nordstrom's The Nordy Pod,hosted by the company's CEO Pete Nordstrom, is a familiar example of how retailers are shifting from sellers to storytellers—using podcasts to share culture, leadership, and customer stories, and enhancing customer connection and brand visibility. Galeries Lafayette's Minuit aux Galeriesshared behind-the-scenes stories after hours to celebrate their 150th anniversary in 2024.

These examples reflect what the industry already recognises: audio is now an established tool for connection, storytelling, and visibility.

Sharing department store knowledge

Since 2020, IADS has published over 150 "IADS Exclusives," written analyses that explore a wide range of topics relevant to department stores, including store formats, digital innovation, and industry-related topics. To foster open conversation and encourage the dissemination of knowledge about the department store format – a constant line of conduct for the Association - these articles have been made available to the public from the outset through its Substack page.

With IADS Retail Park, these insights are now accessible anytime, anywhere in the car, between meetings, or during store walkthroughs through short, high-impact audio.

Each episode is created using generative AI tools, including cloned voices of IADS team members, which allows the podcast to simulate the tone and rhythm of a live conversation. The process starts when the weekly Exclusive is released, which is then transformed into scripted dialogue, guided by reusable templates to ensure natural pacing and tone. Human editors refine each episode to provide clarity, accuracy, and emotional warmth.

Notably, the entire process (from draft to production) can be completed in under 24 hours, making Retail Park one of the fastest and most agile content formats IADS has developed.

Key features of the IADS Retail Park podcast include:

• Available on Spotify, Apple Podcasts, and Substack
• Weekly episodes featuring both past and new editorial content
• Full use of AI production tools
• Editorial oversight at every stage to ensure clarity, tone, and precision

Launched quietly in late February 2025, IADS Retail Park already features 45+ episodes, with new content added weekly. It combines editorial storytelling with emerging AI capabilities to create a format that is both personal and scalable.

The podcast reflects IADS's commitment to combining innovation with accessibility, serving as a model for how retail organisations can scale storytelling through voice technology while maintaining trust and personality.

About IADS

The International Association of Department Stores (IADS) is the only expert body specialising globally in the department store retail format. Consisting of leading department store members worldwide, the Association serves as an international network, facilitating exchange and communication among its members. It also conducts research to address the current challenges of department stores and provide actionable insights for its members.

Today, IADS permanent members include Beijing Hualian Group (PRC), Bloomingdale's (USA), Boyner (Turkey), Breuninger (Germany), Chalhoub Group (UAE), Centro Beco (Venezuela), El Corte Inglés (Spain), El Palacio de Hierro (Mexico), Falabella (Chile, Colombia and Peru), Galeries Lafayette (France), John Lewis & Partners (UK), Lifestyle International Holding (Hong Kong), Magasin du Nord (Denmark), Manor (Switzerland), The Mall Group (Thailand), TSUM Kyiv (Ukraine). These retail leaders are joined by a network of other department stores and retail companies as corresponding members.

Together, the IADS members, all key players in their respective markets, create a landscape of diverse business models and cultures, representing more than €40.5 billion in cumulated annual turnover, achieved through over 549 stores with 251,000 associates in 28 countries.

Through its activities and partnerships with NellyRodi, Retail Hub, RH-ISAC and Newstores, the Association constantly stays up to date on its members' questions and challenges. It generates solution-driven problem-solving processes for its members, preparing them to face the future of the retail industry.

Read the full press release below:

IADS Press Release - IADS Retail Park launch

Read the full press release, in French, below:

IADS Communiqué de presse - Lancement de IADS Retail Park

Maeil Business Newspaper highlights the IADS CEO conference's inaugural visit to Korea, where The Hyundai Seoul was chosen as a showcase for global retail innovation. The article features IADS President Kamshim Lau's admiration for Hyundai Department Store's forward-thinking approach and details how the conference agenda included AI-powered transformation, creative business models, and customer experience excellence, all positioning Korea as a rising leader in the global department store industry.

Read the full article below:

Maeil Business Newspaper celebrates IADS' recognition of Hyundai's retail leadership

BusinessKorea spotlights the first IADS CEO conference in Korea, emphasizing the international exchange of ideas on retail transformation. The article highlights how Hyundai Department Store's unique blend of space, technology, and content captured the attention of executives from nine countries, and how the event set the stage for future expansion of Hyundai's retail concepts across Asia.

Read the full article below:

Business Korea spotlights IADS global retail collaboration at The Hyundai Seoul

ChosunBiz spotlights the IADS CEO conference's vibrant debut in Korea, reflecting Hyundai Department Store's growing influence on the world stage. The article describes the exclusive tour of The Hyundai Seoul's innovative spaces and features Kamshim Lau's remarks on the value of international collaboration, celebrating the dynamic exchange of ideas that is shaping the future of department stores worldwide.

Read the full article below:

ChosunBiz highlighted IADS CEO conference and K-retail's global rise.

#### For the first time, the International Association of Department Stores co-organises its Mid-Year CEO Conference with Hyundai Department Store in Korea.

The International Association of Department Stores (IADS) and Hyundai Department Store, one of Korea's leading retail innovators, renowned for its groundbreaking retail concepts and successful transformation of the traditional department store model, will jointly host the IADS Mid-Year CEO Conference in Seoul, Korea, on June 10, 2025. This landmark event marks the first time the oldest global retail association dedicated to the department store format brings its executive gathering to the Korean market, offering its members' leaders unprecedented and privileged access to one of Asia's most dynamic retail landscapes.

Founded in 1947 and evolving into a dedicated retail enterprise in 1971, Hyundai Department Store has transformed from its construction industry origins into a retail powerhouse that continually redefines the shopping experience. Today, Hyundai Department Store operates 16 department stores, including two under "The Hyundai" brand and the new "Connect Hyundai" concept, alongside eight outlets across Korea. The company generated approximately KRW 4,208 billion (€2.8 billion) in revenue for 2023 and has embarked on an ambitious corporate value enhancement strategy, announcing plans to invest KRW 1.2 trillion in The Hyundai Gwangju and KRW 700 billion in Busan Premium Outlet as part of its three-year value-up plan.

The flagship concept, The Hyundai Seoul, opened in 2021, has fundamentally reimagined what a department store can be. Occupying 89,000 square meters across 12 floors and housing nearly 600 different shops, this architectural marvel dedicates an unprecedented 49% of its space to rest areas, indoor landscapes, and experiential zones. Its most striking features include a 12-meter-high waterfall garden visible across multiple floors and a 3,300-square-meter indoor garden with 30 trees, natural grass, and ambient nature sounds beneath a 20-meter-high glass ceiling—the largest indoor garden in Korea.

What truly distinguishes Hyundai's retail approach is its meticulous attention to customer experience and communication. It is not surprising that The Hyundai Seoul has attracted over 100 million visitors in just two years, with particularly strong growth among international visitors and younger consumers. Throughout the store, crucial information is clearly conveyed to visitors—from floor guides highlighting must-see attractions to QR codes providing instant access to store locations, waiting times, and special offers. The store's design seamlessly integrates technology through facial recognition for VIP areas, guide robots, and digital experiences at "TUNE" on the sixth floor, which offers a variety of content through generative AI and holograms.

Hyundai's recent strategic initiatives further showcase its forward-thinking approach to retail. Hyundai unveiled "Connect Hyundai" in Busan, an innovative urban complex shopping mall combining a department store, an outlet, and cultural facilities to create a comprehensive shopping destination for a new generation of consumers. In February 2024, the company signed a comprehensive partnership agreement with Thailand's Siam Piwat Group to create synergy between the two companies. This was followed by an agreement with Japan's Hankyu Department Store in September 2024 to exchange VIP benefits, the first such arrangement for Hankyu with an overseas retailer. For international visitors to Korea, Hyundai launched "H Point Global" in February 2024, a dedicated membership programme offering special discounts, rebates, and convenient booking services for restaurants and transportation.

The company's commitment to supporting Korean fashion and culture is evident in "The Hyundai Global" platform, launched in April 2024 to help Korean fashion brands expand internationally. Beginning with Japan's Parco stores, this initiative aims to reduce overseas expansion costs for Korean brands by over 30% while introducing international consumers to K-fashion.

Technology integration remains central to Hyundai's strategy. The company has pioneered AI applications in retail, including "One Step," an AI-driven programme for creating advertising images that doubled click-through rates during its trial period, and "Lewis," an AI copywriting system that reduces campaign development time from weeks to hours. These innovations complement Hyundai's partnership with Seoul city government to create a "global life hub" offering multilingual consulting services and cultural exchange programmes for foreign residents, demonstrating the company's commitment to serving diverse communities.

This historic collaboration represents a significant evolution in the IADS's international engagement strategy. It brings its tradition of high-level retail dialogue to the Korean market at a pivotal moment in global retail transformation.

Ms Kamshim Lau, Executive Director of Lifestyle International (Hong Kong SAR) and President of the IADS declares: "We are thrilled to co-host our Mid-Year CEO Conference with Hyundai Department Store, a true pioneer in redefining the future of retail. This collaboration underscores our shared commitment to innovation, excellence, and global dialogue in the department store industry. Seoul's vibrant retail ecosystem offers unparalleled insights, and we look forward to deepening our members' understanding of Asia's transformative trends alongside Hyundai's visionary leadership."

Mr. Jee Yong Jung, CEO of Hyundai Department Store, says: "Department stores are evolving beyond traditional retail spaces into platforms that deliver new experiences and meaningful value. Through the IADS CEO Conference, we expect Hyundai Department Store's space, technology, and content innovation to reach a wider global audience and further expand through engagement with international retail leaders."

By bringing together diverse perspectives from leading department stores worldwide, the Mid-Year CEO Conference will foster valuable exchanges on critical topics including omnichannel integration, generational shifts in consumer behaviour, sustainability initiatives, and the evolving role of physical retail in an increasingly digital world. The event promises to yield insights that will shape retail strategies globally, as participants gain firsthand experience of one of Asia's most innovative retail environments and forge connections that will drive future international collaborations.

The IADS Mid-Year CEO Conference in Korea builds on the Association's long tradition of facilitating knowledge exchange among the world's leading department stores. By partnering with Hyundai Department Store, the IADS continues its mission of providing strategic and concrete solutions to modern retailers' challenges, from real estate strategy to e-commerce profitability, organisational efficiency, private label development, and addressing evolving customer expectations. This event underscores the value of an international perspective in addressing shared industry challenges and highlights Korea's growing influence in global retail innovation.

About Hyundai Department Store

Hyundai Department Store is a major department store chain in South Korea. It currently operates 16 department stores nationwide. Its parent company is the Hyundai Department Store Group.

Hyundai Department Store is active in providing high-quality services, differentiated content, and trend-forward MD, and it is proposed to realize customer satisfaction beyond customer expectations. Also, Hyundai Department Store is contributing to developing the domestic distribution industry.

In particular, The Hyundai Seoul, which opened in February 2021, is considered to have presented a "future department store platform" by maximising the concept of 'retail therapy' instead of the traditional department store platform, reducing sales area and constructing an unconventional nature-friendly space.

Hyundai Department Store will become an ever-evolving platform through content research and development that can satisfy the space you want to stay in and the desire for new experiences.

About IADS

The International Association of Department Stores (IADS) is the only expert body specialising globally in the department store retail format. Consisting of leading department store members around the globe, the Association acts as an international network, facilitating exchange and communication between members. It also conducts research to address department stores' current challenges and provide actionable insights for its members.

Today, IADS permanent members include Beijing Hualian Group (PRC), Bloomingdale's (USA), Boyner (Turkey), Breuninger (Germany), Chalhoub Group (UAE), Centro Beco (Venezuela), El Corte Inglés (Spain), El Palacio de Hierro (Mexico), Falabella (Chile, Colombia and Peru), Galeries Lafayette (France), John Lewis & Partners (UK), Lifestyle International Holding (Hong Kong), Magasin du Nord (Denmark), Manor (Switzerland), The Mall Group (Thailand), TSUM Kyiv (Ukraine). These retail leaders are joined by a network of other department stores and retail companies as corresponding members.

Together, the IADS members, all key players in their respective markets, create a landscape of various business models and cultures and represent more than €40.5bn cumulated annual turnover, achieved through more than 549 stores with 251,000 associates in 28 countries.

Through its own activities and partnerships with NellyRodi, Retail Hub and RH-ISAC, the Association constantly stays up to date on its members' questions and challenges. It generates solution-driven problem-solving processes for its members so that they are prepared to face the future of the retail industry.

Press Contact: IADS, [press@iads.org](mailto:press@iads.org)

Read the full press release below:

IADS Press Release - IADS and Hyundai

Read the full press release, in French, below:

IADS Communiqué de presse - Collaboration IADS & Hyundai

John Lewis joins the International Association of Department Stores.

John Lewis, part of the John Lewis Partnership and holder of a Royal Warrant of Appointment from King Charles III, renowned for its unique employee ownership model, omnichannel excellence, and trusted retail heritage spanning over 160 years, officially joins the IADS. This membership will be formalised at the 66th Association General Assembly in Hong Kong this November.

Founded in 1864 as a drapery shop on Oxford Street, John Lewis has become one of the UK's most beloved retail brands. With a rich heritage of customer service and innovation, the company has 34 department stores across England, Scotland, and Wales, complemented by robust digital channels that account for approximately 60% of total sales. At the heart of its business model is a diverse merchandise assortment spanning fashion, home, beauty, and technology, including both curated international brands and distinctive private labels, all underpinned by its recently restored "Never Knowingly Undersold" price pledge, which was introduced for the first time as early as 1925.

The company's flagship store on Oxford Street, London, stands as a testament to John Lewis's commitment to evolving with customer expectations. Recently revamped with a £6.5 million investment, this 39,000-square-meter retail destination showcases John Lewis's innovative approach to retail, featuring strategic brand partnerships like Waterstones and the upcoming Jamie Oliver cookery school, alongside technology-enhanced shopping experiences and personalised services. This flagship renovation is part of a broader investment in store improvements across the network, demonstrating the retailer's confidence in physical retail's continued relevance in an omnichannel world.

What truly sets John Lewis apart is its unique ownership structure as the UK's largest employee-owned business. Since 1929, all employees are "Partners" who share in the company's success. This distinctive model has fostered exceptional customer service and community connection, complemented by a rapidly growing loyalty program with 3.7 million active members, up 11% compared to last year.

In December 2024, John Lewis's commitment to quality and service was recognised at the highest level when it was granted a Royal Warrant of Appointment as supplier of Household Goods and Furnishings to His Majesty King Charles III. This is a prestigious mark of recognition for companies that have regularly supplied the Royal Household for at least five years.

Ms Kamshim Lau, Executive Director of Lifestyle International (Hong Kong SAR) and President of the IADS said: "We are delighted to extend a warm welcome to John Lewis as a valued member of our esteemed community. As an iconic, employee-owned retailer with a rich heritage and a commitment to excellence, John Lewis brings a unique perspective and strength to our association. We look forward to collaborating with their team, sharing insights, and advancing the future of department store innovation together."

Mr James Breckenbridge, Retail Director at John Lewis, said: "We're delighted to join the Association and are looking forward to collaborating with members on strategic opportunities and challenges facing the retail industry today."

By joining the Association, John Lewis, which has already been a long-standing and influential member of the IADS in the past, will contribute to the fruitful exchanges taking place between leading department stores within the framework offered by IADS, where members collaborate on strategic challenges ranging from omnichannel integration to private label development, customer loyalty enhancement, and sustainable retail practices.

About the John Lewis Partnership

The John Lewis Partnership owns and operates two of Britain's best-loved retail brands - John Lewis and Waitrose. Started as a radical experiment over a century ago, the Partnership is now the largest employee-owned business in the UK. The Partnership is purpose-driven, existing to create a fairer and more sustainable future for our Partners, customers, suppliers and communities. Our Purpose not only inspires our principles, drives our decisions and acts as our guide to be a force for good, it steers us to do things differently and better - all in service of creating a happier world for everyone and everything we touch.

John Lewis operates 34 shops across the UK as well as johnlewis.com. Waitrose has 315 shops in England, Scotland, Wales and the Channel Islands, including 47 convenience branches, and another 29 shops at Welcome Break locations. The retailer's omnichannel business includes the online grocery service, waitrose.com, and specialist online shops including waitrosecellar.com for wine.

About IADS

The International Association of Department Stores (IADS) is the only expert body specialising globally in the department store retail format. Consisting of leading department store members around the globe, the Association acts as an international network, facilitating exchange and communication between members. It also conducts research to address department stores' current challenges and provide actionable insights for its members.

Today, IADS permanent members include Beijing Hualian Group (PRC), Bloomingdale's (USA), Boyner (Turkey), Breuninger (Germany), Chalhoub Group (UAE), Centro Beco (Venezuela), El Corte Inglés (Spain), El Palacio de Hierro (Mexico), Falabella (Chile, Colombia and Peru), Galeries Lafayette (France), John Lewis & Partners (UK), Lifestyle International Holding (Hong Kong), Magasin du Nord (Denmark), Manor (Switzerland), The Mall Group (Thailand), TSUM Kyiv (Ukraine). These retail leaders are joined by a network of other department stores and retail companies as corresponding members.

Together, the IADS members, all key players in their respective markets, create a landscape of various business models and cultures and represent more than €40.5bn cumulated annual turnover, achieved through more than 549 stores with 251,000 associates in 28 countries.

Through its own activities and partnerships with NellyRodi, Retail Hub and RH-ISAC, the Association constantly stays up to date on its members' questions and challenges. It generates solution-driven problem-solving processes for its members so that they are prepared to face the future of the retail industry.

Press Contact: IADS, [press@iads.org](mailto:press@iads.org)

Read the full press release below:

IADS Press Release: John Lewis joins the IADS

Read the full press release, in French, below:

IADS Communiqué de presse: John Lewis rejoint l'IADS

Fashion Network cited IADS' latest findings on how women's fashion is evolving as a key pillar of department store business. IADS notes that while the category's revenue share remains stable in 2024, the mix of brands and store layouts is diversifying-balancing creative new labels with heritage names to engage all generations. The report highlights the growing role of data in curating assortments and boosting cross-selling, as well as the need for innovation that reassures loyal customers while attracting new ones.

Read the full article below (available in English, French, and Spanish):

Fashion Network highlighted IADS on the evolution of women's fashion in department stores - English

En grand magasin, la mode femme se diversifie, entre labels créatifs et "marques héritage" - French

Así están renovando su oferta femenina los grandes almacenes como palanca de ventas cruzadas - Spanish

Inside Retail quotes IADS on how many brands joining Saks' Amazon storefront are doing so out of necessity, and that Saks is likely using its influence to bring more on board. IADS also highlights the ongoing challenges for luxury brands and department stores expanding online.

Read the full article below:

Inside Retail spotlights IADS on the Saks–Amazon luxury partnership

As the Women's Fashion business stabilises in revenue share but diversifies in expression, department stores navigate a delicate balance between innovation and brand loyalty. Going beyond rethinking brand adjacencies to curating assortments that speak across generations, they now use data to unlock new cross-selling potential.

Women's Fashion remains a cornerstone of the department store business, maintaining a stable share of total sales in 2024. Casual Wear continues to dominate, although its share gradually declines from pandemic-era highs. In terms of price segmentation, year-on-year comparisons show a rise in both the Luxury and Affordable Luxury/Designer segments. Women's Fashion continues to evolve at the intersection of innovation, loyalty, and customer experience. Department stores across the IADS network respond by blending novelty with heritage, rethinking strategies to appeal to younger generations. Success now hinges on having the right brands or space and the intelligence behind every choice. Data has become the backbone of retail agility, guiding department stores in building relevance and performance.

Brands: freshness sells, with trusted names securing conversion

IADS members unanimously report a growing customer appetite for novelty, anchored in brand familiarity. In a post-pandemic landscape where fashion serves as self-expression and emotional reassurance, department stores adjust their assortments to deliver newness without disorienting customers. At Bloomingdale's, success hinges on curating pieces that spark curiosity (such as those from Farm Rio and Alémais brands), while grounding the offer in recognisable names like Polo Ralph Lauren. For example, the store's private label Aqua saw notable results from a recent collaboration with The White Lotus series. Interestingly, the creative twist, more than the brand association, resonated with consumers, underscoring the value of fresh storytelling.

TSUM Kyiv shares a similar dynamic. Their bold launch of Guest in Residence, a cashmere-based brand with a playful aesthetic, paid off thanks to its standout visuals and Spring timing, an unconventional choice that drew strong engagement. Simultaneously, their continued emphasis on well-known luxury names ensures high traffic. TSUM Kyiv also reinforces its novelty appeal with a dedicated floor for Ukrainian designers, proving that local innovation can capture both attention and loyalty.

In contrast, Magasin du Nord reported that while emerging brands may deliver on quality and pricing, they struggle without prior awareness. Customers remain hesitant to explore unknown labels unless trust has been established. Newness must be introduced with precision. Whether by highlighting new collections from iconic houses or incorporating lesser-known names into curated spaces, retailers succeed when innovation is framed within a trusted retail context.

IADS partner NellyRodi identified significant trends shaping Women's Fashion brand aesthetics. Seriousness establishes fashion as a space for cultural authority. Besides precise silhouettes, this trend is exemplified by initiatives such as the Chanel and Miu Miu book clubs. As seen in Paloma Wool campaigns, the elevated cocoon trend blends softness with structure. The excess trend celebrates ornament and storytelling, as in Schiaparelli and Valentino collections. Body exploration becomes a canvas for free experimentation, as in the latest Duran Lantik runway show. Finally, the origin trend honours imperfection and nature, as shown in Dilara Findikoglyu's Fall-Winter 25 collection.

How to address all generations while rejuvenating the clientele?

Reaching younger customers remains a strategic focus, but approaches vary significantly among department stores. Some retailers adopt a targeted, generation-specific strategy, while others shift towards a transgenerational model, favouring fashion relevance over age segmentation. The success of cross-generational labels like SKIMS at Galeries Lafayette exemplifies this. The store strategy aims to increase purchase frequency and basket size rather than chase volume through entry-level items. Meanwhile, TSUM Kyiv observes that even younger consumers unable to purchase luxury goods still engage with them socially, turning the store into a visual destination and aspirational space.

El Palacio de Hierro embraces a more targeted approach. Their success with Spanish fast-fashion brand Brownie shows the strength of youth-specific labels when properly curated. However, the approach is measured: the store integrates these brands within a larger framework, including denim staples and their private label Catamaran. Moreover, they observe that younger customers are increasingly interested in more premium brands such as Maje, Zadig & Voltaire, and Ganni, reflecting a desire for quality and aspiration beyond price.

Bloomingdale's adopts a hybrid model. While some fast fashion brands like Edikted are only available online, the store also introduced multi-brand concepts such as Sunset and Spring, designed to attract a younger, style-conscious audience with a curated "best-of" brand experience. This space includes mainstream names like Levi's and Steve Madden, but the strength lies in the cohesion of the edit.

From adjacencies to advantage: turning floor planning into a cross-selling engine

Reorganising floors and leveraging cross-selling are key priorities for department stores. The Galeries Lafayette Haussmann Women's Fashion floors underwent a complete reorganisation, abandoning traditional age segmentation in favour of a more strategic, price-driven architecture. This realignment was powered by the analysis of cross-selling data, helping to prioritise business opportunities and customer experience over brand ego. The results are clear: increased dynamism, better customer flow, and more profitable adjacencies. Bloomingdale's echoed this data-first approach, highlighting the complexity of creating the right adjacencies. While some brands are sensitive about their placement, the final decision ultimately lies in balancing brand image with traffic patterns and productivity per square metre. The rise of e-commerce also plays a role. As online sales grow, the relative importance of physical adjacencies may decrease, allowing for more flexible store planning and hybrid retail models.

Magasin du Nord relies on its Goodie loyalty programme to refine in-store strategies as it provides exceptional visibility into customer behaviour and cross-category correlations. This allows them to curate adjacencies that generate high-impact cross-selling, such as combining Women's Fashion with beauty products near cash points. Creating "destination within destination" setups is another successful cross-selling strategy, as shown by Galeries Lafayette, offering high-end fragrances within the luxury floor, or Magasin du Nord's successful athleisure corner added to the Women's Fashion floor. With only one floor, Tryano creates themed spaces, such as 'mini-me' zones for matching adult and children's outfits or mood-based pop-ups that mix fashion, tech and lifestyle products. These configurations support cross-selling across categories, generations, and household members.

The Women's Fashion department is no longer managed as a static category but as a dynamic, customer-centric platform. Success today lies in delivering novelty without disorientation, building brand loyalty across generations, and designing environments that inspire discovery and drive relevance. Whether through curated brand mixes or flexible floor layouts, department stores are embracing a more integrated, agile and strategic approach to Women's Fashion. In doing so, they reaffirm their unique role and position in offering customers style, identity and experience.

Read the full press release below:

IADS Press Release: In the Women's Fashion category, department stores blend bold innovation with legacy labels, engaging younger audiences

Read the full press release, in French, below:

IADS Communiqué de presse: Dans la catégorie mode féminine, les grands magasins associent labels créatifs et marques'héritage' pour attirer efficacement des clients plus jeunes

NRF Europe's white paper quotes IADS Managing Director Selvane Mohandas du Ménil, who notes that while AI is essential for department stores, it's not enough-retailers must accelerate transformation despite uncertainty. He highlights the need for investment in digital infrastructure, talent, and sustainability, and points to AI's role in personalising experiences and improving efficiency as department stores adapt to new consumer habits and global competition.

Access NRF Europe's white paper below:

NRF Europe quotes IADS on leveraging AI and building retail resilience

World Retail Congress 2025 highlights IADS Managing Director Selvane Mohandas du Ménil's focus on perfecting store experience and e-commerce profitability as the foundation for sustainable growth. The article also features newly elected IADS President Kamshim Lau, who emphasises resilience, agility, and data-driven adaptation to navigate economic uncertainty and evolving consumer trends. Additionally, Michael Chalhoub, CEO of Chalhoub Group, shares strategies for building an agile, omnichannel luxury retail ecosystem centered on authenticity and long-term brand value. Together, their perspectives reflect a balance of innovation and operational excellence as keys to unlocking growth in global retail.

Read the CEO perspectives below:

World Retail Congress features IADS on unlocking growth in global retail

L'Opinion discusses luxury retail trends, highlighting the strategic importance of locations like Champs-Élysées and Fifth Avenue. Selvane Mohandas du Ménil, managing director of IADS, notes that despite economic challenges, luxury brands invest heavily in these iconic locations to provide immersive experiences, emphasising the ongoing relevance of physical stores in the luxury sector.

Read the full article on L'Opinion:

L'Opinion discusses luxury locations with IADS expertise

America-Retail uncovers IADS' Global Department Store Monitor insights, revealing a 1.6% decline in global department store sales, with strategic focuses on omnichannel transformation, sustainability, and growth in emerging markets like India and Vietnam.

Read the full article below:

America Malls & Retail uncovers IADS insights on department store transformation and retail resilience

Grande Consumo sheds light on IADS' Global Department Store Monitor, highlighting a decline in global department store sales due to economic uncertainty and geopolitical tensions, yet showing resilience in Asian and Latin American markets.

Read the full article on Grande Consumo:

Grande Consumo sheds light on IADS' Global Department Store Monitor and retail sector dynamics

Pulzo examines IADS' analysis in the 2023/24 edition of the IADS Global Department Store Monitor, revealing post-pandemic stabilization, contrasting regional trends, and growth potential in emerging markets.

Read the full article on Pulzo:

Pulzo examines IADS' analysis data on worldwide department store slowdown

Paris Select reports on IADS data showing global sales decline, highlighting regional contrasts with growth in India and Vietnam, and cautious progress in Europe. It also echoes IADS' emphasis on the need for omnichannel strategies to boost future growth.

Read the full article on Paris Select:

Paris Select features data from the latest IADS Global Department Store Monitor

Fibre2Fashion covers IADS' insights on emerging markets, particularly highlighting Vietnam and India as key drivers for future retail growth. According to the IADS Global Department Store Monitor 2023-2024, these markets are poised to significantly impact the global retail landscape, with initiatives like Galeries Lafayette's entry into India exemplifying this trend.

Read the full article on Fibre2Fashion:

Fibre2Fashion Covers IADS' findings on emerging markets in retail

RetailDetail EU reports on IADS' Global Department Store Monitor, revealing a 1.6% decline in sales for luxury department stores in 2023 and 2024. The post-pandemic peak has passed, with retailers facing market uncertainty and sluggish economic growth. Despite these challenges, emerging Asian markets offer growth potential.

Read the full article on RetailDetail EU:

RetailDetail EU discusses IADS insights on department store challenges

Le Journal du Luxe examines IADS' Global Department Store Monitor and  highlights regional variations, noting growth in markets like India and Vietnam, while underscoring ongoing economic challenges.

Read the full article on Le Journal du Luxe:

Le Journal du Luxe explores IADS findings on post-pandemic retail landscape

IADS Press Release: Global Department Store Monitor 2023-2024

Fashion Network has published an article detailing IADS' Global Department Store Monitor report, which shows a global decline in department store activity by 1.6% for the 2023/24 period. The report, based on data from 59 department store chains, attributes this decline to significant market uncertainty, sluggish economic growth, and unfavourable interest rates. Regional trends highlight stagnation in the Americas with independent stores performing slightly better than group-owned ones, while Asia-Pacific saw declines except in India and the Philippines.

Read the full article on Fashion Network:

Fashion Network analyses IADS insights on post-pandemic retail trends, France

Fashion Network analyses IADS insights on post-pandemic retail trends, Latin America

Fashion Network analyses IADS insights on post-pandemic retail trends, Sweden

Schuhkurier features IADS' latest insights on international department store sales, noting a decline in growth as the post-Covid boom ends.

Read the full article on Schuhkurier:

Schuhkurier highlights IADS' Global Department Store Monitor

IADS Press Release: Global Department Store Monitor 2023-2024

WWD features IADS' latest report on global department store sales. The data shows a 1.9% average decline across 59 stores worldwide in 2023, attributed to reduced purchasing power and a luxury slowdown. IADS cites market uncertainty and slow economic growth as key factors, while noting regional variations in performance.

Read the full article on Inside Retail:

WWD reports on IADS' global department store sales data

The annual IADS Global Department Store Monitor was launched in 2021 by the International Association of Department Stores after realising that comparable department store data was either unavailable, poorly understood or unexploited by analysts. This was due to the nature of an ever-evolving industry, making it difficult for outsiders to understand, given the pace of privatisation, mergers, change in ownership, or simply not categorising numbers by business unit. Since then, the report has been rebuilt to enable dynamic comparison among department stores over the years.

The Monitor was designed to compare results pre- and post- the COVID pandemic, given the magnitude of changes this episode had on department stores. It isolates the impact of sales growth from the effect of exchange rate changes to track and compare sales and profits from companies worldwide while accounting for currency fluctuations. Also, given that accounting standards across countries are not uniform, financial data are refined and harmonised to provide a comparable base.

The 2025 edition of the IADS Global Department Store Monitor reviews 59 department stores with publicly available information to create a benchmark for industry stakeholders regarding the 2023-2024 period.

Fiscal Year 2023-2024 financial results: The post-Covid boom is tapering off

In 2024, the global economy, including retail, faced significant market uncertainty, slow economic growth, and unfavourable interest rate environments across regions. The post-COVID-19 peak of 2021 and 2022 has passed, and growth has now stabilised across the retail sector, with department stores largely following this trend, albeit with regional divergences. Some broad observations from the 2023-2024 Global Department Store Monitor indicate that:

• The average global year-on-year sales growth in Fiscal Year 2023-2024, after two years of significantly positive sales growth in 2021 and 2022, shows a slightly negative sales trend of around –1.6%.
• The share of department store sales in their parent companies' total retail sales is stabilising and has almost returned to pre-COVID levels.
• This is also due to the reduction of their parent companies' total global retail sales after hitting a peak in 2021 and 2022, due to considerations such as reduced purchasing power, the slowdown in the luxury sector, environmental responsibility, and particular regional factors.

2023-2024 results: Regional Analysis

In the Americas, for department stores owned by groups – the share of department store sales has stabilised and contribute more to their owners' retail sales than pre-COVID. This is due to increased department store sales and lower total retail sales per company. However, the average total retail sales trend of these group-owned department stores is negativei. On the other hand, stand-alone department stores are almost stable and slightly positive in year on-year sales growth.

In the Asia-Pacific region, the share of department stores in their owners' total retail sales has stabilised but has not reached pre-COVID levels in terms of contribution to their owners' total retail sales. Department store sales have reduced due to a regional retail slowdown, especially in Japan, South Korea, and Hong Kong. The average sales trend for department stores was negative after two consistent years of sales growth in 2021 and 2022. In India and the Philippines, on the other hand, department stores saw a positive sales trend.

Similarly, in Europe, for department stores owned by groups, the share of department store sales in their owners' total retail sales is higher than their pre-COVID contribution due to the reduction in owners' total retail sales. For both group owned and standalone department stores, sales performance saw an average trend of less than 1%.

Outlook for 2024-2025

The election of President Donald Trump in the US and impending tariffs are sure to restructure global retail supply chains. Though inflation across other economies has decreased, the US market fears stagflation despite Trump's prodomestic growth agenda. The ripples of US-American economic actions will be felt worldwide, with the EU, China and Canada, among other countries, discussing retaliatory tariffs. The potential US TikTok ban pending its sale to a US owner adds to the uncertainty, given that it is an essential social media channel that drives trends and influences consumer behaviour in the fashion industry.

Emerging Asian markets like Vietnam and India will significantly impact the global retail landscape. Galeries Lafayette's first Indian department store, in partnership with Aditya Birla Group, will open in Mumbai this year and a second one in Delhi in 2026. In the EU, revised sustainability directives mandate comprehensive environmental reporting and due diligence from retailers by 2028. The global economic forecast for 2025 is uncertain and will digress sharply from 2024 results.

The next edition of the Global Department Store Monitor will examine Fiscal Year 2024-2025 results. While the global retail landscape is constantly changing, the factors discussed above will definitely impact department stores, adding to their current transformation, which includes prioritising omnichannel presence, experiential retail, and adapting to changing consumer preferences.The full list of companies covered in the Global Department Store Monitor is available on the following page. The data sheet can be downloaded by clicking here.

i : Due to the limited availability of public financial data, this section analyses only three Latin American department stores owned by groups, so

inferences may not be fully extrapolatable at the continental level.

Read the full press release below:

IADS - Press Release - Global Department Store Monitor 2023-2024

Read the full press release, in French, below:

IADS - Communiqué de Presse - IADS Global Department Store Monitor 2023-2024

Access the IADS Global Departments Store Monitor datasheet here.

IADS GLOBAL DEPARTMENT STORE MONITOR

Inside Retail examines Printemps' entry into the US market with its new NYC store. The article references IADS insights, suggesting that Printemps is focusing on complementing the traditional department store model rather than reinventing it. According to IADS, Printemps aims to leverage its brand strengths, like curated products and a broad digital ecosystem, to gain traction in the US.

Read the full article on Inside Retail:

Inside Retail cites IADS on Printemps' US strategy