Tag: Lotte

Retail Asia25/08/2022
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3min0
South Korea’s fifth largest conglomerate Lotte Group is picking up the pace of expansion in Vietnam’s retail and F&B industries as it pulls out of China. Its chairman, Shin Dong-bin, recently released from jail, is set to visit Vietnam for his first overseas business trip after receiving a presidential pardon on Liberation Day on Aug. […]

Retail Asia23/05/2022
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6min0
Lotte, Korea’s largest retailer, has decided to pull out of China altogether, due to the country’s continued retaliation against Korean firms after Seoul’s decision to station a U.S. anti-missile battery in 2016, as well as sluggish private consumption amid the prolonged COVID-19 lockdown. Instead, Lotte plans to focus on Indonesia, Vietnam, Malaysia and other Southeast […]

Retail Asia23/06/2020
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2min0
Lotte Confectionery Co, a unit of South Korean conglomerate Lotte Group, will launch a snack subscription service dubbed “Monthly Snack,” the first of its kind in South Korea. The new service is based on the concept of the subscription economy, which refers to a business model that offers regular products or services to consumers who […]

Retail Asia11/06/2020
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2min0
South Korean duty-free retailer Lotte has formally taken over the liquor and tobacco concessions at Singapore’s Changi Airport from DFS Group. Construction of the new stores are likely to begin once the island’s current “circuit-breaker” restrictions are relaxed in the wake of the continuing coronavirus outbreak. Before this period the firm will trade via the […]

Retail Asia30/04/2020
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1min0
South Korean retail conglomerate Lotte is expanding its e-commerce offering with one-hour delivery grocery services, as part of a plan to double online sales by 2023. The rush grocery delivery service is paired with upgrades to the firm’s product recommendations system in a move to attract higher volumes of online purchases in a market increasingly […]

Retail Asia19/03/2020
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1min0
Italian luxury fashion brand Versace opened a store on e-commerce site Lotte Premium Mall in South Korea on Monday. Lotte Department Store says the store is a collaboration with the official importer Versace Korea and the online mall. Forty lines of Versace products, including ready-to-wear and accessories including wallets, belts, clutches and jewelry is showcased […]

Retail Asia20/11/2019
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2min0
South Korean retail conglomerate Lotte is bringing London mobile shopping tech startup Rezolve into its market. The Korean firm will incorporate the startup’s IT product, which allows customers to take advantage of deals in print by scanning them with their mobile devices in Lotte’s supermarket app. Lotte earns a large proportion of its supermarket revenues […]

Retail Asia05/08/2019
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2min0
Online store sales at Lotte Duty Free (LDF) increased by 49 percent year on year to KRW1.4 trillion (US$1.85 billion) during the first half of this year. The firm is targeting total online sales of KRW2.9 trillion ($2.46 billion) by the end of the year, following around KRW2 trillion in sales last year – an […]

Retail Asia23/05/2019
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2min0
Lotte sanctions imposed by the Chinese government two years ago have now been lifted. Authorities in Shenyang have allowed South Korea’s Lotte Group to resume work on a US$2.6 billion retail and leisure development in the region following the lifting of sanctions against the firm by the Chinese government last month. The Lotte sanctions were […]

Retail Asia01/03/2019
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1min0
Lotte Mart Vietnam has opened its third Hanoi store in Cau Giay District. The South Korean retailer’s new 2776sqm branch is located in the urban district, near seven local universities. Targeting local students, the branch will offer trendy but inexpensive products. There will be an international zone that sells products from Korea, the US and […]

Retail Asia30/01/2019
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2min0
The sale of convenience store chain Ministop fell apart as potential bidder Lotte and the Japan-based convenience franchise failed to agree on a price. The AEON Group of Japan, the largest shareholder of Ministop Korea, filed a notice on Monday that it has suspended the sale process to sell its full stake in the unit. […]

Retail Asia25/01/2019
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3min0
Lotte Group Chairman Shin Dong-bin told affiliate CEOs that he wants reform and aggressive investment in 2019 during a biannual meeting on Wednesday. Shin missed the last meeting in July as he was serving time in prison for bribery related to former President Park Geun-hye. The first meeting of the year typically deals with each […]


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