Lotte Shopping news

South Korean conglomerate Lotte Group is going to launch its online shopping website in Vietnam, taking on an ecommerce market considered to have great potential for growth. Aim to take up one fifth of the market share The ecommerce site Lotte.vn will offer goods and services, drawing on the retail network of Lotte Department Store, Lotte Mart, Lotte Home Shopping and L.POINT, which opened ea...

Lotte news roundup: mobile payment, expansion in Vietnam and Indonesia Promoting L-Pay Lotte has been trying to provide an omni-channel shopping experience to its customers and is focusing on improving and promoting its mobile payment solution L-Pay. The mobile payment service has been forging ties with eight South Korean credit card firms and is also in talks with Samsung to have L-Pay app...

South Korean retailer Lotte Group has announced to enter Indonesia’s e-commerce market, through a joint venture with the country’s biggest conglomerate Salim Group. New company to launch in 2017 Last Friday, Lotte signed a memorandum of understanding (MOU) agreement with Salim Group, in which the two companies agreed to establish an e-commerce joint venture in the first half of this ye...

South Korean multi-format retailer Lotte saw a 1.6% YOY increase in its Q4 revenue to KRW7.8tn (US$6.5bn). Yet its hypermarket and supermarket operation in China continues to suffer as revenue declined over the past year. Strategy to tackle the difficult situation in China Lotte operated 116 hypermarkets and supermarkets in China by the end of 2015, with like-for-like (LFL) sales of the...

Lotte Mart plans to open 50 new supermarkets in Vietnam by 2020. Quadrupling its store network The retailer that currently operates 11 supermarkets in Vietnam, is planning to increase its investment over the next five years. The supermarket expansion was announced by Hoong Soon Chang, the ViceConsul of the Republic of Korea and Lotte Mart Vietnam director general, Hong Won Sik. Latest ...

South Korea's Lotte Group has signed an agreement with Chinese e-commerce giant JD.com, to exclusively sell its products in mainland China for five years. Aim to sell 200,000 products over the next three years The online part of the business, Lotte.com and JD.com will launch an online platform selling items from across Lotte's various retailing subsidiaries including; Lotte Department store...

Lotte has reported an H1 revenue increase of 2.8% to KRW14.5tn (US$12.3bn) whilst operating profit decreased 28% to KRW469.4bn (US$0.4bn). South Korea: growth in convenience whilst hypermarkets struggle In Lotte's domestic market total revenue increased by 2.6% to KRW13.3tn ($US11.3m) and operating profit fell by 24% to KRW575bn (US$0.49bn), as the retailer felt the economic impact fol...

According to IGD research, the Vietnamese retail market is set to grow by 8.4% a year until 2020, making it one of the fastest-growing markets in south-east Asia.  Against a backdrop of increased disposable income, rapid urbanisation and an appetite for change among younger shoppers, we take a look at five trends defining the marketplace for pan-Asian retailers right now. 1. Confident inv...

As 7-Eleven signs an agreement to enter Vietnam, we round up the latest news from the world's leading convenience operator: expansion in the Philippines, "smart" features to store in South Korea, and innovation in North America. 7-Eleven to enter Vietnam by 2017 The retailer has signed a master franchise agreement with Seven System Vietnam Co. Ltd, a company established by IFB Holdings ...

We update on Emart and Lotte Mart’s store closures in China, as the retailers are under pressure in their domestic market following the outbreak of MERS. Difficulties in China for Lotte and Emart, pursuing ASEAN opportunities Lotte Mart has announced the closure of four stores in Shandong province in east China, following like-for-like sales decline of -7.2% in China in the first quarter...