Lotte Shopping, a division of the South Korean food conglomerate, has won regulatory approval to open up to 20 discount stores in Vietnam, Asia’s up-and-coming retail market.


The company, a newcomer to the international retail scene, has begun to look abroad for growth opportunities as it faces increasing competition at home and slowing domestic demand.


It recently announced plans to open department stores in Moscow and Beijing but Vietnam will be Lotte’s first overseas market for its discount stores. The first outlet will open in early 2008 in Ho Chi Minh City.


Unlike China, where foreign retailers have rushed to do business in recent years, the Vietnamese market is relatively undeveloped with only Germany’s Metro and Thailand’s The Big C already offering discounted goods.


“The big retailers like Tesco and Wal-Mart have not yet entered so competition is relatively low,” a company official said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vietnam’s recent accession to the WTO is however likely to change this.