+33 680 38 14 46
Korean group Lotte Mart aims to triple its stores in China
China
Wednesday 24 August 2011
MD
The project to triple its stores in China underscores the importance of foreign markets for Korean group Lotte Mart.
The Korean group Lotte Mart plans to open 200 stores in China by the end of 2018, underlining its strategy of overseas expansion.
Lotte Mart has 92 stores in South Korea and 107 abroad (China, Indonesia and Vietnam). Lotte Mart entered China in 2008 through the acquisition of Makro stores, a unit of Germany's Metro AG and currently has 82 supermarkets in China.
Due to the weakness of its domestic market, the group Lotte Mart is counting looking further a field for growth. Lotte Mart expects sales in foreign markets to exceed domestic sales in four or five years.
source : China daily
