Lotte Shopping Company is planning to open 300 hypermarkets in China within the next ten years.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
According to a Reuters report, Korea’s largest department store operator has said that it intends to compete with the likes of Wal-Mart and Carrefour for a share of the lucrative Chinese market.
Lotte recently entered China through the CNY1.3bn (US$188m) acquisition of Beijing-based cash and carry CTA Marko.
The company intends to open its first Lotte Mart hypermarket in the Chinese capital next week.
Along with new store openings, the group also plans to rebrand seven Makro outlets, located in Beijing and neighbouring Tianjin.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company also indicated that it is on the look-out for further acquisitions to fuel growth.
