Lotte Shopping news

10 May 2018
We review the latest developments at E-Mart, Lotte, Home plus and GS Retail, the four largest food and grocery retailers in South Korea. Pepper the robot at E-Mart E-Mart is working with Japan's Softbank Robotics Corp to test 'Pepper' the robot. 'Pepper' will be stationed at an E-Mart store in Seoul for about three weeks to service shoppers in store. The 1.2m-tall robot will be able to prov...
26 April 2018
Lotte Mart has agreed a deal with Chinese retailer Wumei Holdings Inc. to sell its 21 stores in Beijing. The deal Lotte will sell 87.38% stake of its Lotte Mart stores in Beijing to Wumei Holdings Inc. for CNY1.42bn (US$224m). Wumei operates Beijing-based supermarket, Wumart, covering mainly northern parts of China. To ensure a smoother transition for the stores, Lotte will maintain a 5% sh...
22 February 2018
South Korean conglomerate, Lotte has released its 2017 annual results. We review how the Group has performed and round-up the latest news and developments. A challenging year... Following a new reporting structure (which excludes CVS and Finance which were transferred to holding company in October 2017), Lotte posted a -24.6% decrease in consolidated revenue to KRW18.2 tn, and -30.5% declin...
21 November 2017
South Korean retailer, Lotte, has applied to renew its licence to run their Lotte Duty Free store at the Convention and Exhibition Center (Coex). Licence pending approval The Lotte Duty Free store is in Gangnam district, one of Seoul's richest areas, located within the well-known Coex mall. The licence is set to expire next month. Should the authorities approve the renewal, it will be valid...
17 November 2017
Many of the leading South Korean retailers are turning to ASEAN countries for expansion. We review the latest developments for Korea's five leading retailers.  THAAD may have long-lasting impact on Korean businesses Relations between South Korea and China soured when a former Lotte golf course was used as the base for US THAAD missile-defence system earlier this year. As the saga unrivalled...
11 October 2017
Lotte and Indonesian conglomerate Salim Group have officially launched their ecommerce joint venture iLotte, managed under PT Indo Lotte Makmur. The two firms have committed a US$100m budget to the project. Differentiate with authentic products Customers can shop on iLotte for branded products in fashion, food and even automobiles from Lotte Avenue and Lotte Mart, Lotte's shopping mall and ...
29 September 2017
Over the last six months, we have seen increasing number of Lotte Mart stores close in China. We review the impact and latest update to this ongoing saga. The background... Tensions arose when when a former Lotte golf course was used as the base for US THAAD missile-defence system, one of the major factors causing relations between South Korea and China to sour. This has impacted some of th...
17 May 2017
7-Eleven introduced their first convenience store without any staff at Lotte World Tower in Seoul yesterday. First to palm... The new 7-Eleven store utilises the 'HandPay' system to recognise individuals by the veins on the palm of their hands. Payments are linked to the Lotte Card, with Lotte and 7-Eleven partners in South Korea. No cash, card nor phone is required at the store and this wi...
15 March 2017
Indo Lotte Makmur, a 50-50 joint venture between Lotte and Salim Group, has been officially launched to join the e-commerce foray in Indonesia. Harnessing on the strength of Salim Group’s distribution network, the new company will likely have an edge over its competitors. iLotte shopping to launch in July A new shopping platform, targeting women between 20 to 39 years old, is expected t...
10 November 2016
Lotte Shopping has reported a 2% increase in revenue to KRW7.9tn (US$6.9bn), while its operating profit has dropped to KRW175.56 billion won (US$153.3 m), down 10.1% from a year ago, in the three months ended September. C-stores thrive but hypermarkets suffer By business, Lotte’s hypermarkets operation has registered the biggest loss, with sales dropping 3%. it has reversed to a deficit of ...