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by | Mar 21, 2018 | Melissa

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Lotte Shopping Co., Ltd. (Korean: 롯데쇼핑 주식회사), a distribution unit of Lotte Group, is a multinational retailer headquartered in Seoul, South Korea. Founded in 1979, Lotte Shopping operates various retail stores, including department stores, outlet stores, hypermarkets, drug store chains, and e-commerce.[1][2] It is also engaged in the film industry by holding the majority of its stake in Lotte Cultureworks.[3][4]

Businesses

Lotte Shopping's primary business divisions and subsidiaries include:

Business divisions

Subsidiaries

Lotte Shopping operates Korea's largest department store chain and the second-largest hypermarket chain in Korea.[5] Lotte runs a home appliance retailer by acquiring Hi-Mart for 1.25 trillion won in 2012. Hi-Mart was the nation's top consumer electronics retailer, with 314 stores.[6] Lotte Shopping also had the multiplex cinema chain Lotte Cinema under its wing but decided to spin off the cinema business department as a subsidiary, Lotte Cultureworks, in 2018.[7]

Lotte Shopping also runs its retail business in the Southeast Asian market, including Vietnam and Indonesia.[8] Lotte Shopping once operated five department stores and 99 discount stores in the mainland China market. However, after South Korea deployed THAAD in a golf course owned by the Lotte Group, the company withdrew its retail business from China as it failed to recover from a boycott campaign.[9][10][11]

Gallery

  • Lotte Department Main Store in Seoul
    Lotte Department Main Store in Seoul
  • Lotte Department Store in Hanoi
    Lotte Department Store in Hanoi
  • Lotte Mart in Gwangju
    Lotte Mart in Gwangju
  • Lotte Mart in Jakarta
    Lotte Mart in Jakarta
  • Lotte Hi-Mart in Jecheon
    Lotte Hi-Mart in Jecheon

See also

References

  1. ^ Sa, Eun-young (January 19, 2009). "Lotte Shopping Looks Beyond its 30 Years". Maeil Business Newspaper.
  2. ^ Park, Eun-jee (February 13, 2020). "Lotte Shopping to shut 30% of its stores". Korea JoongAng Daily.
  3. ^ Yang, Kahyun (September 10, 2014). "S.Korean movie theatre chain Megabox on sale". Reuters. Seoul.
  4. ^ Lee, Tae-hee (August 5, 2022). "Lotte Shopping reports 45.5 billion won second quarter net". Korea JoongAng Daily.
  5. ^ "(LEAD) Lotte Shopping swings back to Q2 profit". Yonhap. Seoul. August 5, 2022.
  6. ^ Park, Si-soo (October 29, 2012). "Lotte gets green light to acquire Hi-Mart". The Korea Times.
  7. ^ "Lotte Shopping to hive off cinema business, launch new affiliate in June". Yonhap News Agency. Seoul. April 6, 2018.
  8. ^ Kim, Jae-heun (November 15, 2021). "Lotte, Shinsegae fail in Southeast Asia, turn toward US". The Korea Times.
  9. ^ Lee, Tae-hee (August 18, 2022). "Lotte Shopping to withdraw its last department store from China". Korea JoongAng Daily.
  10. ^ "South Korea's Lotte seeks to exit China after investing $9.6 billion, as Thaad fallout ensues". The Straits Times. Seoul. March 13, 2019.
  11. ^ Tan, Huileng (September 19, 2017). "Chinese media warn about 'lessons' for South Korea when it ignores Beijing's 'concerns'". CNBC.

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