Lotte Mart

Lotte Mart
Public
Industry Retail
Founded 1998
Founder Shin Kyuk-Ho
Number of locations
 199 (August 2011)
Area served
 Worldwide
Products Fresh foods, Processed foods, Daily goods, Electric home appliance, clothing and miscellaneous
Website www.lottemart.com
A Lotte Mart in Kelapa Gading, Indonesia.

Lotte Mart is an east Asian hypermarket that sells a variety of groceries, clothing, toys, electronics, and other goods, with headquarters in South Korea.[1] Lotte Mart is a division of the Lotte Co., Ltd. which sells food and shopping services in South Korea and Japan.[2] Lotte Mart, part of the Korean conglomerate "Lotte", opened its first branch at Guui-dong, GangByeon, Seoul, Korea on April 1, 1998.[3] In 2006, Lotte Mart opened its first overseas branch. As of August 8, 2011, Lotte Mart had 199 branches (92 branches in Korea, 82 branches in China, 23 branches in Indonesia, and 11 branches in Vietnam).[4] The brands that Lotte created and sell include Herbon, Wiselect, Withone, Basicicon, Tasse Tasse, and Gerard Darel.

Operating divisions

International locations

China

In December 2007, Lotte Mart bought out Makro, an established supermarket chain from the Netherlands. By purchasing Makro, Lotte Mart was able to gain access to the Chinese market. This was the first time Korean retail had entered the Chinese market.[5] There are now 82 branches of Lotte Mart in China.

Indonesia

Continuing their expansion plans, in October 2008, Lotte bought PT Makro Indonesia. PT Makro Indonesia ran 19 stores in Indonesia. This was also the first time Korean retail had entered the Indonesian market.[5]

Vietnam

On December 18, 2008 Lotte Mart established its first Vietnamese branch in the 7th District of Ho Chi Minh.[5]

Toys R Us

Lotte Mart made a licensed contract with the biggest toy store in the world Toys R Us[6] in December 2007.[3] The first Toys R Us opened in South Korea on December 8, 2007. It was opened in the 37,000 square feet Lotte Mart Guro Branch in Seoul, Korea. Other Toys R Us locations are in Guri, Incheon, Samsan, and Jamsil. These Toys R Us offer an extensive collection of toys, children’s clothes, and baby products from around the world.[7] The Lotte Mart Company planned to open 20 more Toys R Us stores by 2012.[3]

References

  1. ↑ http://web.ebscohost.com/ehost/detail?sid=4f5ade6f-59e6-4b6e-b226-e09b834c9ac8%40sessionmgr4&vid=2&hid=119&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=nfh&AN=16PU246154169
  2. ↑ Lotte (conglomerate)
  3. 1 2 3 "LOTTE". Retrieved 1 July 2015.
  4. ↑ "mk 뉴스 Lotte Mart to Relocate to China Once Overseas Sales Surpass Domestic Performance". News.mk.co.kr. Retrieved 2013-03-21.
  5. 1 2 3 "LOTTE". Retrieved 1 July 2015.
  6. ↑ "Marketplace - "The largest toy store in the world" - Toys "R" Us Times Square - Ralph Greene - 81/254". World Wide Panorama. 2005-03-19. Retrieved 2013-03-21.
  7. ↑ "EBSCO Publishing Service Selection Page". Retrieved 1 July 2015.
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