Lotte Shopping

Retail Asia16/06/2021

South Korean retail giants Lotte Shopping and Shinsegae Group have submitted separate letters of intent for online marketplace eBay Korea, the retailers’ spokesmen confirmed on Monday. It is a deal that will almost certainly shake up the country’s e-commerce retail segment, potentially propelling one of the country’s largest retailers into becoming the leading omnichannel operator in […]

Retail Asia27/05/2020

South Korean retail group Lotte Shopping will sell off 121 stores this year in an attempt to recover from the impact of the coronavirus pandemic on sales. The company says it will close five department stores, 16 discount stores, 75 supermarkets and 25 physical stores linked to its online mall LOHB within this year. The […]

Retail Asia19/02/2020

Lotte Shopping plans to shut down as many as 200 department stores and large-format supermarkets in South Korea, marking one of the biggest retail network culls in the nation’s history. Lotte Group operates more than 700 stores under its Lotte Mart, Lotte Department Store, Lotte Super and drug-store chain LOHB banners, which means its closure […]

Retail Asia01/02/2017

Sales at South Korea’s department stores in December rebounded from November on year-end gift purchases, trade ministry data showed on Monday, while sales for the whole year ended on a positive note, reversing two years of decline. Combined sales last month at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co rose […]

Retail Asia22/11/2016

Singapore’s sovereign wealth fund, GIC Real Estate Pte Ltd, has acquired GG-Square, a Seoul-based retail complex, for $136 million. The complex was completed in 2014 and is spread over an area of 238,248.43 square meters. It has 28 stories and is located in the heart of Anyang, a bustling metropolitan area in the southern part […]

Retail Asia14/11/2016

While revenue for its third quarter rose 2 per cent year-on-year, South Korea’s Lotte Shopping Companysaw its net profit soar 203.9 per cent to KRW78.2 billion (US$68 million). The retail giant says these are preliminary figures yet to be independently audited. Third-quarter revenue rose 2 per cent to KRW7.9 trillion. Domestic department stores maintained solid […]

Retail Asia03/10/2016

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South Korea’s department store sales rose for a third straight month in August thanks to widespread discounting ahead of a major public holiday this month, government data showed on Thursday. Combined sales at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co rose 4.1 percent on-year, data from the Ministry of Trade, […]

Retail Asia24/06/2016

South Korea’s Lotte Group has come under suspicion of using a shell company that owns a mega mall in Vietnam to funnel money into a possible slush fund. Luxembourg-incorporated Coralis SA, the company in question, developed Lotte Center Hanoi at a cost of around US$400 million. The 65-story shopping and leisure complex was opened in […]

Retail Asia05/02/2016

French retail group Casino’s sale of its Thai and Vietnam units has drawn the eye of Singapore’s Dairy Farm International Holdings and South Korea’s Lotte Shopping but they’ll need punchy bids to go up against deep-pocketed Thai tycoons, bankers said. The auction represents a rare opportunity for cashed-up Asian companies to expand into what analysts […]

Retail Asia27/07/2015

The 60-year-old chairman on Thursday became chairman of Lotte Holdings, the holding company of the Lotte Group in Japan, which was previously held by his brother Shin Dong-joo. This sealed his control of Lotte operations in both Korea and Japan. It is believed to be the first step in uniting the businesses in both countries. […]

Tag: Lotte Shopping

Shinsegae, Naver win bidding battle for EBay South Korea

Lotte Shopping gearing up store-exit plan

Lotte Shopping closing 200 stores as losses mount

South Korea Dec department store sales rebound from Nov, reverse two declining years

Singapore Sovereign Fund Invests $136 Million in Korean Retail Complex

Lotte Shopping profit soars 203 per cent

South Korea August dept store sales rise for 3rd month

Vietnam shopping center linked to Lotte’s slush fund scandal

Suitors for Casino’s Asia assets will have to face off against Thai tycoons

Shin calls for fresh goals for entire Lotte group