To tap the Southeast Asian fast-growing retail market, Lotte Group, one of the leading South Korean business conglomerates, is learnt to invest around USD 5 billion to develop 30 supermarkets in Vietnam in the next 15 years.
Launching its maiden supermarket ‘Lotte Mart’ in Ho Chi Minh City, Vietnam, Dao Thi Minh Van, deputy general manager, Lotte Vietnam, a Lotte Group subsidiary, said, “We will open four more retail outlets in the southern commercial hub and 10 others in places including Hanoi, Haiphong, Danang and Can Tho in coming years.”
With over 50 business units including candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing and entertainment, Lotte Group is currently operational in South Korea, China, Philippines, Thailand, Indonesia, Vietnam, India, USA and Russia.
— IndiaRetailing Bureau
