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Tag: Lotte group

Retail Asia24/01/2022
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General

Lotte Group acquires Ministop South Korea

1min0
South Korea’s Lotte Group has agreed to acquire a 100% stake in Ministop Korea for 313.4 billion won ($263 million), the country’s fifth-largest convenience store chain, from Japan’s Aeon Co., Lotte said on Jan. 21. With the purchase in cash, Lotte’s convenience store operator 7-Eleven will be able to take on the two sector leaders —  CJ […]
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Retail Asia19/04/2017
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General

Lotte Group forced to drop $4.5bn IPO

2min0
Following a 30 per cent drop in duty-free sales last month and the virtual closure of more than 100 supermarkets and discount shops in China, the Lotte Group has cancelled its US$4.5 billion IPO. Its woes are fallout from the mainland’s objection to South Korea’s new THAAD missile defence system, designed to knock out missiles […]
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Retail Asia27/03/2017
General

Lotte founder’s 50-year reign comes to an end

6min
Shin Kyuk-ho, founder and general chairman of the Korean retailer Lotte, has been removed from his company by shareholders, solidifying the succession of his second son, Shin Dong-bin, and coming closer to ending a family feud that started in 2015. Lotte is the country’s fifth-largest family controlled conglomerate, with 90 affiliates here and abroad. The […]
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Retail Asia30/12/2016
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Electronics

Lotte agrees to leverage IBM’s Watson for retail

3min
IBM has signed an agreement with the Lotte Group to provide cloud-based IBM Watson solutions to help the Group deliver innovation across the business and become a world-class retail company. Lotte Group represents the country´s largest retailer in a highly competitive retail market and is one of Korea´s top five companies, providing products and services […]
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Retail Asia20/10/2016
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General

South Korea prosecutors to indict Lotte chairman, father and brother in corruption probe

3min
South Korean prosecutors will file charges on Wednesday against Lotte Group’s chairman, Shin Dong-bin, father and brother alleging they committed offences such as embezzlement and breach of trust worth hundreds of millions of dollars at the family-owned conglomerate, as reported on Tuesday. Closing a wide-ranging probe into corruption that has convulsed Korea’s fifth-largest conglomerate, prosecutors will […]
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Retail Asia20/10/2016
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Real Estate

Lotte jumps into Shanghai retail

4min
Lotte Department Store has signed on to a joint venture with Citic Group, a state-owned Chinese company, to operate a shopping mall in Shanghai and to build three more in the region between 2017 and 2019, the Korean company announced Monday. The joint venture will operate the already-existing Citic Square Mall in the bustling commercial […]
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Retail Asia31/03/2016
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General

Lotte seeks calm waters after family turbulence

15min
The fate of Lotte Group hung in the balance several months ago, as the fraternal battle over control of the retail giant reached its peak. However, a year into the family battle, Chairman Shin Dong-bin managed to settle the dispute and strengthened his grip over the country’s fifth-largest conglomerate, which has operations in Korea and […]
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Retail Asia28/03/2016
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Living

Takashimaya Tokyo going duty free

3min0
Eyeing the growing tourist market, Japanese department store Takashimaya is going duty free with an airport-style store in Tokyo. Not only sales tax, but also alcohol and tobacco duties will be waived under the venture, in which the Takashimaya Tokyo store is partnering with ANA Holdings and South Korea’s Samsung Group. Takashimaya will contribute more […]
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Retail Asia14/03/2016
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General

South Korean retailers eye overseas push

6min0
The largest South Korean retailers, faced with cut-throat competition in the rapidly saturating domestic market, are turning their attention to overseas markets in conjunction with small and mid-sized businesses to secure a new growth driver. The country’s three major retail conglomerates – Shinsegae Group, Lotte Group and CJ Group – are targeting to sell more […]
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Retail Asia08/03/2016
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E-Tailing

Tough battle brews in Indonesian eCommerce

2min0
Three Indonesian eCommerce platforms are about to be launched – by Astra Graphia, CT Corp and a joint venture formed by the Salim and Lotte Groups. This comes after forays into eCommerce in the past 12 months by such Indonesian conglomerates Lippo Group (MatahariMall and Venturra Capital), Sinar Mas Group (SMDV) MNC Group (BrandOutlet) and […]
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Retail Asia01/03/2016
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E-Tailing

Lotte Group in Indonesian confectionery push

3min0
South Korean confectionery manufacturer Lotte Group is planning an eCommerce joint venture with one of Indonesia’s largest conglomerates, the Salim Group, within the next few months with the aim of being up and running by early next year. This follows a new government policy on eCommerce that opens up a market of nearly 250 million […]
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Retail Asia17/12/2015
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General

Lotte’s Japan unit to jack up stake in Korean affiliate

3min
Lotte Confectionery Co., a unit of South Korean retail giant Lotte Group, said Wednesday that Lotte’s Japan operation will increase its stake in the affiliate, a move seen as part of efforts to cement the incumbent group chairman’s grip in the conglomerate amid a succession feud. In a regulatory filing, Lotte Confectionery said that Tokyo-based […]
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Retail Asia09/12/2015
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General

Lotte seeks more female managers

4min
Lotte Group, a leading South Korean retail giant, vowed Thursday to nurture its female leaders to provide equal opportunities in its workforce. Group chairman Shin Dong-bin said in a forum that his conglomerate would increase female leaders to 30 percent of managers by 2020 from the current rate of 11 percent. “The group expects to […]
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Retail Asia06/11/2015
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General

20 Lotte affiliates meet IPO requirements

2min
One in four unlisted affiliates of South Korea’s retail giant Lotte Group are found to meet requirements for a stock market debut, data showed Wednesday. The conglomerate has pledged to simplify its governance structure and boost its managerial transparency through a set of measures, including initial public offerings (IPOs), after a bitter family feud over […]
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Retail Asia17/08/2015
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General

Lotte Group head issues apology for feud, vows reform

3min
The head of South Korea’s Lotte Group yesterday vowed a new era of corporate governance and transparency as he apologized for the family feud engulfing the beleaguered retail giant. In an address broadcast live on TV, group chairman Shin Dong-bin also sought to deflect growing anti-Japanese sentiment surrounding Lotte, which was founded in Japan, but […]
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Retail Asia10/08/2015
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General

Lotte China loses a trillion

2min
Reports from Korea suggest Lotte Group has lost more than 1 trillion won (US$853 million) in China in just three years. Data assembled by CEO Score shows Lotte China made heavy losses between 2011 and 2014 as South Korea’s fifth largest company struggled to understand the Chinese consumer and build market share. Last month, Lotte […]
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