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Tag: Lotte Mart Vietnam

  • Lotte Mart Vietnam expands in Hanoi

    Lotte Mart Vietnam expands in Hanoi

    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 Europe and  a ‘Delica’ corner will offer baked goods and easy-to-cook food.

    About 35 per cent of the fresh-food products will include harvests from farms near Hanoi to maintain freshness.

    Lotte Mart Vietnam head of overseas business Kang Min-ho said the firm is planning to expand its business in the country, mainly focusing on Hanoi and Ho Chi Minh City.

    Lotte Mart now has 14 stores in Vietnam.

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  • Lotte Mart’s ‘Be Goods by Busan’ in Vietnam

    Lotte Mart’s ‘Be Goods by Busan’ in Vietnam

    Lotte Mart Vietnam will promote products from South Korean SMEs in its Go Vap outlet in Ho Chi Minh City.

    The retailer will add a special sales zone called Be Goods by Busan, to sell 70 products from 13 companies based in Busan.

    Lotte has selected products including fruit and vegetable drinks, frying pans and shampoos, items it believes will appeal to local Vietnamese consumers. More items are to follow.

    The retailer is also planning to provide online and offline marketing support for the products.

    This is the second time Lotte Mart has opened a Be Goods store.

    Last October, Lotte Mart Nguyen Van Linh hosted 196 products of 23 Korean SMEs, and earned 240 million won (US$215,827) in sales over seven months.

    Vietnam is Korea’s third largest export market and Lotte Mart believes it is the best place for Korean SMEs to test and export their products.

    Last month, another Korean retailer E-Mart also promoted Korean SME’s products in Singapore.

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  • Lotte Mart Vietnam sales grow to $221m

    Lotte Mart Vietnam sales grow to $221m

    With 12 stores, hypermarket chain Lotte Mart Vietnam chalked up sales of VND5 trillion (US$221.58 million) last year – 30 per cent growth year-on-year.

    Foot traffic also grew 20 per cent, says CEO Hong Won Sik.

    Its latest outlet opened late last month, and the South Korean company is looking at more mergers and acquisitions so it can achieve its target of 60 stores by 2020, says Hong.

    He says Lotte Mart Vietnam also plans to expand to convenience stores and eCommerce.

    With more than 20 subsidiaries in Vietnam, Lotte has invested more than $2 billion, and is set to double the total investment with plans to build an urban area in the east of Ho Chi Minh City.