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With the fervor of the holiday shopping season fast approaching, retailers across Asia are gearing up for a bustling fourth quarter. Among them, Lotte Shopping, South Korea’s retail giant, is strategizing ways to capture consumer attention and boost sales. In…
South Korean retail giants Lotte Shopping and Shinsegae Group have submitted separate letters of intent for online marketplace eBay Korea, the retailers’ spokesmen confirmed on Monday. It is a deal that will almost certainly shake up the country’s e-commerce…
South Korean retail group Lotte Shopping will sell off 121 stores this year in an attempt to recover from the impact of the coronavirus pandemic on sales. The company says it will close five department stores, 16 discount stores, 75 supermarkets and 25…
Lotte Shopping plans to shut down as many as 200 department stores and large-format supermarkets in South Korea, marking one of the biggest retail network culls in the nation’s history. Lotte Group operates more than 700 stores under its Lotte Mart, Lotte…
Sales at South Korea’s department stores in December rebounded from November on year-end gift purchases, trade ministry data showed on Monday, while sales for the whole year ended on a positive note, reversing two years of decline. Combined sales last month…
Singapore’s sovereign wealth fund, GIC Real Estate Pte Ltd, has acquired GG-Square, a Seoul-based retail complex, for $136 million. The complex was completed in 2014 and is spread over an area of 238,248.43 square meters. It has 28 stories and is located in…
While revenue for its third quarter rose 2 per cent year-on-year, South Korea’s Lotte Shopping Companysaw its net profit soar 203.9 per cent to KRW78.2 billion (US$68 million). The retail giant says these are preliminary figures yet to be independently…
South Korea’s department store sales rose for a third straight month in August thanks to widespread discounting ahead of a major public holiday this month, government data showed on Thursday. Combined sales at department stores run by Hyundai Department…
South Korea’s Lotte Group has come under suspicion of using a shell company that owns a mega mall in Vietnam to funnel money into a possible slush fund. Luxembourg-incorporated Coralis SA, the company in question, developed Lotte Center Hanoi at a cost of…
French retail group Casino’s sale of its Thai and Vietnam units has drawn the eye of Singapore’s Dairy Farm International Holdings and South Korea’s Lotte Shopping but they’ll need punchy bids to go up against deep-pocketed Thai tycoons, bankers said. The…
The 60-year-old chairman on Thursday became chairman of Lotte Holdings, the holding company of the Lotte Group in Japan, which was previously held by his brother Shin Dong-joo. This sealed his control of Lotte operations in both Korea and Japan. It is…
