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Tag: Lotte

Retail Asia25/01/2019
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General

Lotte Mart’s distribution fees scrutinized

5min0
Korea’s antitrust body is examining the practice of retailers unfairly shifting distribution costs to their suppliers. The Fair Trade Commission (FTC) has started evaluation proceedings against Lotte Mart for transferring this burden and charging an onward transportation fee after a product has been delivered. The regulator could fine the retailer 400 billion won ($353.92 million) if […]
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Retail Asia19/12/2018
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Fashion

Lacoste opens new travel retail store at Lotte Busan

1min0
LACOSTE has opened a new 30sqm duty-free store in Busan to further enhance their presence in Asia. This new store is located in LOTTE Duty Free, second largest duty free operator, in Busan, which is the second biggest city in South Korea. Travel Retail, often referred to as the “6th continent”, offers a unique opportunity to connect with […]
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Retail Asia18/12/2018
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Living

Lotte brings in The Conran Shop to Korea

2min0
ondon-based high-end furniture and home furnishing store chain The Conran Shop will open its first South Korean outlet in the second half of next year in partnership with the country’s leading department store chain Lotte Department Store. Lotte Department Store said on December 13 it has signed a contract to run Korean stores of The Conran Shop […]
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Retail Asia13/12/2018
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Food

Lotteria burgers get 2.2% more expensive

1min0
Lotteria is raising burger prices. The fast food franchise announced Wednesday that it was going to raise the price of 11 of its burgers by an average of 2.2 percent. Its Teri Burger, for example, will now cost 2,300 won ($2.04), up from the original 2,000 won. The price of the Classic Cheese Burger will rise […]
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Retail Asia07/12/2018
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Living

Lotte opens premium outlet in Giheung

3min0
South Korean retail giant Lotte opened this week a new premium outlet in Giheung, Gyeonggi Province – the second-largest among its branches nationwide and the latest addition to large-scale malls launched by retailers here in hopes of raising offline sales. Lotte is pinning hopes on the latest outlet’s location, citing three highways and five major roads passing through […]
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Retail Asia30/11/2018
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Research

Retail sector Korea in future

6min0
Technology and e-commerce trends are reshaping the global retail industry in profound ways, as the rise of online channels threatens to displace more traditional shopping experiences. However, Korea’s retail sector seems to be thriving in the face of this upheaval, with a 6% year-over-year increase in retail sales by Q3 2018. What are the factors fuelling this […]
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Retail Asia22/11/2018
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Fashion

65% jump for Lotte Duty Free’s overseas sales

2min0
South Korean retail giant Lotte’s duty-free operator Lotte Duty Free posted a rapid hike in overseas sales in its quarterly performance report. According to the company, sales for the third quarter this year hit a record-high 4.1 trillion won (US$3.6 billion), a 25 percent on-year increase. The sales from its downtown city stores and its overseas stores […]
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Retail Asia21/11/2018
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Fashion

Duty-free sales may hit all-time record this year

3min0
Korea’s duty-free sales are likely to set a new annual record this year despite Chinese group tour traffic not having fully recovered.  According to the Korea Duty Free Shops Association, duty-free store operators made $1.44 billion in October, a 28.6 percent increase year on year. This takes Korea’s total duty-free revenue between January and October […]
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Retail Asia25/10/2018
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General

Lotte pledges 50 trillion won investment

5min0
Lotte Group announced Tuesday a major investment plan to spend 50 trillion won ($43.9 billion) and hire 70,000 workers over the next five years. “The plan comes in order to normalize management activities, obtain a competitive edge for future growth and contribute to vitalizing the local economy,” Lotte said in a statement. The announcement comes […]
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Retail Asia22/10/2018
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Fashion

Spotlight on ASEAN for Korean retail, beauty and entertainment biz

5min0
With Southeast Asia becoming the center stage for South Korean businesses in expanding their global presence, retail conglomerates like Lotte, Shinsegae and CJ have been successfully tapping into the markets. Lotte Group has focused its investments on its retail arm Lotte Shopping’s entrance to the Indonesian market. According to the company, the Indonesia market accounts for 17 percent of total […]
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Retail Asia12/10/2018
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Living

Lotte’s Shin returns to work after early release

4min0
Lotte Group Chairman Shin Dong-bin returned to the office on Monday, getting back to work immediately to resolve issues that were put on hold while he was imprisoned until Oct. 5. Shin was spotted heading to his office on the 18th floor of Lotte World Tower in Songpa District, southern Seoul, Monday morning without responding […]
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Retail Asia05/10/2018
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Living

Lotte prepares for verdict on chairman

10min0
Lotte Group Chairman Shin Dong-bin is due to receive his appeals court sentence tomorrow. The leader of Korea’s largest retail conglomerate is facing up to 14 years in jail. Shin has already served eight months of the 30-month sentence he received over charges of bribing former President Park Geun-hye to curry favor during her administration. […]
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Retail Asia27/09/2018
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Living

Ministop South Korea is for sale, rivals compete

2min0
South Korean retail operators Lotte and Shinsegae are competing to buy the 21-year-old local subsidiary of Japanese convenience-store operator Ministop. Shinsegae and Lotte respectively own rival chains Emart24 and 7-Eleven and are both reportedly seeking to take full ownership of Ministop South Korea. Both companies see the deal as a means to grow their respective […]
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Retail Asia20/08/2018
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Living

Lotte duty free profit soars

1min0
South Korean duty-free operator Lotte has reported soaring profit following its decision to partially withdraw from Incheon airport. In the company’s first half report, it indicated solid worldwide sales accounted for the profit increase, which came to KRW155 billion (US$137 million) – up a staggering 1995 per cent. Total global sales hit KRW2.7 trillion (US$2.4 […]
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Retail Asia14/08/2018
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Living

Lotte Tour to hold investor sessions for Jeju resort

1min0
Lotte Tour Development said Thursday it will hold a series of investor relations sessions next week in a bid to attract more investment to its resort construction project in the southern island of Jeju. Lotte officials will meet with institutional investors in Hong Kong and Singapore from Monday to Friday to explain its recent earnings […]
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