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Berli Jucker shareholders have voted in favour of the US$6.2 billion acquisition of a majority stake in Big C Thailand. The vote – virtually unanimous – followed news the listed company had secured funding for the purchase from a syndicate of 15 banks and…
Lotte Group believes that women know what women want. As a result, it’s moving more women into executive positions.In fact, its retail arm, Lotte Mart, has the largest number – six – which is 30 percent of the 19 women executives in the group: Julia Han, head…
Indonesia’s middle- and upper-class consumers are set to propel the trend of online grocery shopping, according to Jakarta-based grocery-shopping app HappyFresh. “The outlook has never been more promising,” says CEO Markus Bihler. “Opportunities abound in…
South Korea plans to unveil a new index tracing online retail prices this year by using big data from private sector to reflect actual economic sentiment, according to Statistics Korea on Tuesday. The state-run agency plans to release an online price index…
Lotte Mart, South Korea’s No. 2 discount chain, is under investigation for allegations of unfairly pressuring a supplier into selling pork bellies below production cost, Korea’s antitrust watchdog said Tuesday. A source at the Fair Trade Commission (FTC) said…
Lotte Mart Vietnam plans to open 50 new supermarkets by 2020. The South Korean company’s Vietnam subsidiary operates just 11 supermarkets currently. Besides opening its own hypermarkets, the company has taken a strategic investment in local grocery retailers…
Chinese B2C e-commerce website JD.com and South Korean retail giant Lotte.com have signed a strategic cooperation agreement and an exclusive agreement under which JD.com will become the sole strategic partner of Lotte.com in the Chinese mainland for five…
Reports from Korea suggest Lotte Group has lost more than 1 trillion won (US$853 million) in China in just three years. Data assembled by CEO Score shows Lotte China made heavy losses between 2011 and 2014 as South Korea’s fifth largest company struggled to…
Wumart Stores, the Beijing-based, Hong Kong-listed grocery retailing giant, has today reported an 11.9 per cent increase in sales in the first six months of the year. Total revenue topped RMB11.6796 billion at a time when foreign box box food and hypermarket…
South Korea’s Lotte is finding the Chinese retail market tough to crack. Lotte Mart, the supermarket arm of South Korea’s Lotte Group, is to close four underperforming supermarkets in East China’s Shandong Province, according to the China Business Journal…
Korea’s Lotte Group is reportedly planning to purchase a number of purchasing malls in Indonesia to broaden its operations within the fast-growing Southeast Asian financial system. A Lotte spokesman has successfully confirmed discussions however advised media…
Korea’s Shinsegae Group is about to open an enormous purchasing centre northwest of Seoul which it hopes will take the battle to Ikea for homewares buying. Shinsegae, one of many nation’s largest division retailer operators, will open E-Mart City on June 18,…
South Koreans are more and more turning to on-line channels for grocery purchasing as they eschew their traditional visits to grocers amid the continued unfold of Center East Respiratory Syndrome (MERS), business knowledge exhibits. South Korea has reported…
Korean retailer Lotte Mart has opened a shop front on China’s Tmall. The Lotte Mart store on Tmall Global, is the first Korean discount store to have an online presence on the popular Chinese online shopping mall. Lotte Mart has launched with an offer of 16…
