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Retail Asia10/08/2018

Lotte Department Store will open a big virtual reality (VR) theme park on the 10th floor of its branch near Konkuk University, eastern Seoul, on Friday. The operation, named Lotte Monster VR, will offer more than 60 VR attractions or rides. Previously, the 10th floor of that store had restaurants and a culture center. The […]

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Retail Asia08/08/2018

Lotte said on Tuesday it has donated $100,000 to relief and reconstruction efforts following the Laos dam disaster in Attapeu. Oh Sung-yup, head of communications at Lotte Corporation, delivered the fund to Community Chest of Korea, a non-profit charity organization based in central Seoul, on Tuesday. The fund will be used to supply necessities to […]

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Retail Asia03/08/2018

Following a new customer service strategy, South Korean travel retailer Lotte Duty Free exited part of its duty-free concession at Incheon International Airport Terminal 1 this Tuesday, 31st of July. Its tactical shift aims at providing greater focus to its downtown retail business through the organization of a growing number of diverse and various unique events. […]

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Retail Asia31/07/2018

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South Korean retailer Lotte will launch a new department in charge of the business group’s online businesses this week. The move is part of a plan to speed up efforts to cope with the rapid expansion of the country’s online market. Earlier in May, Lotte unveiled the plan to inject 3 trillion won (US$2.69 billion) […]

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Retail Asia23/07/2018

Convenience-store brand GS25 says 10,000 of its outlets now serve coffee products distributed under its house brand Cafe 25, just 30 months after the brand was launched. The figures show how successful South Korea’s convenience stores have been in challenging coffee-focused chains like Lotte’s Angel-in-Us and even Starbucks, by offering discounted alternatives through vast store […]

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Retail Asia20/07/2018

Lotte Mart Mongolia is opening its first store, in Ulaanbaatar, in the first half of next year. The South Korean retailer has set up a joint venture with local retailer Nomin Holdings, which will sell Lotte’s private label products for the next 10 years. It is initially targeting sales of US$3 million annually. To prepare […]

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Retail Asia05/07/2018

Surging Chinese and Russian visitor numbers suggest a strong future for Korean travel retail giant Lotte Duty Free’s new store at Cam Ranh International Airport in Nha Trang, opened on 30 June. As reported, Lotte Duty Free has been awarded an exclusive ten-year duty free concession. The contract to operate some 1,680sq m of departures […]

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Retail Asia02/07/2018

Shareholders of Lotte’s Japanese holding company voted to retain imprisoned Lotte Group Chairman Shin Dong-bin as director, dashing his estranged older brother Shin Dong-joo’s hopes to take over the position. At the meeting held at Lotte Holdings’ headquarters in Tokyo, shareholders voted against ousting Shin Dong-bin from the board and replacing him with his older […]

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Retail Asia02/07/2018

Hyundai Department Store is introducing last-minute measures to comply with the new 52-hour workweek, which goes into effect next week. Korea’s third-largest department store chain is reducing the working hours of its sales staff by one hour, the company said on Thursday. “It’s a measure that will catch up with today’s social atmosphere that emphasizes […]

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Retail Asia02/07/2018

Lotte Duty Free said Sunday that it has opened its second store in Vietnam at Nha Trang Cam Ranh International Airport as it strives to expand its presence in the Asian market and better serve Chinese and Russian visitors. The company, a major player in the duty-free business, said its new store started operating Saturday, […]

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Retail Asia29/06/2018

Korean conglomerate Lotte is launching its fast-food chain Lotteria in Mongolia. The brand’s restaurant franchise unit, Lotte GRS, will open its first location in the capital city of Ulaanbaatar and increase outlets to 10 over the next four years. The move follows an agreement with Mongolian restaurant and theatre operator Eugenetek Mongolia, which has signed […]

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Retail Asia06/06/2018

Shinsegae is going all out to acquire licenses to operate duty free shops at Incheon International Airport after its rival Lotte’s bid fell through. The bid is understood by many as Shinsegae‘s aim to expand its presence in the still lucrative and growing duty free industry. According to industry officials, the Incheon International Airport Corp. (IIAC) has narrowed […]

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Retail Asia01/06/2018

Lotte, the South Korean retail giant, has announced the unification of all its fashion businesses under the group’s apparel affiliate to secure competitiveness in the local fashion industry. This new approach to pursue the efficiencies derived from centralised management received a nod of approval from the company’s investors, confirmed the retailer. Lotte Shopping Co., the […]

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Retail Asia30/05/2018

South Korean retail conglomerates like CJ, Lotte and Shinsegae are catering more and more for pet owners as market demand grows. They have opened pet shops that offer products and services ranging from food and grooming services to even lodging for pets. They are also launching their own branded product lines. Shinsegae International’s household goods […]

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Retail Asia28/05/2018

Department-store sales in South Korea rose this month with several family-oriented holidays and special occasions, retail industry data shows. Children’s Day, which falls every May 5, a substitute day off and May 8 Parents’ Day all contributed to more consumption at department stores. Plus Buddha’s Birthday, which is a national holiday and falls on a […]

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Retail Asia24/05/2018

Retail giants like Lotte and Shinsegae don’t have to worry about getting their duty-free licenses renewed every five years anymore. A task force on improving duty-free regulations decided on Wednesday to propose the government extend duty-free licenses for conglomerates to a maximum 10 years. Additionally, duty-free stores managed by small and medium-sized companies will be […]

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Retail Asia24/05/2018

Department store sales rose this month on the strength of several family-oriented holidays and special occasions, retail industry data showed Tuesday. Numbers provided by major Korean retailers showed Children’s Day, which falls on May 5 every year, a substitute day off, and May 8 Parents’ Day all contributed to more consumption at department stores. In […]

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Retail Asia18/05/2018

Korea’s Lotte Group plans to invest KRW3 trillion (US$2.8 billion) into its e-commerce business. Lotte Shopping CEO Kang Hee-tae says a comprehensive online shopping platform will integrate all eight of its online stores by 2020. Lotte Group will form a business department in August dedicated to developing its e-commerce business. Its various retail businesses, including […]

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Retail Asia11/05/2018

South Korean retail giant Lotte has sold a second discount store unit in China to a local retailer in a major step toward withdrawing from the world’s second-largest economy. Lotte Shopping will sell its affiliate for Lotte Mart in Shanghai and nearby areas to Liqun Group for about 280 billion won (US$262 million), according to […]

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Retail Asia03/05/2018

Lotte Shopping is trying to offload its department store annexed to Anyang train station, 20km from Seoul. It is said to be in the final stage of closing a deal with shopping mall group Enter Six to either sell or transfer its lease rights on the store, reports Pulse. With nine floors above ground and […]

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