Lotte Mart opening 88th store in China, 25th in Indonesia

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Lotte Mart opening 88th store in China, 25th in Indonesia

Lotte Mart, the nation’s third-largest discount chain store, said yesterday it will open two new stores in Indonesia and China in a bid to strengthen its presence in the countries.

The Chinese outlet was due to open this week in the city of Dangtu, Anhui Province, becoming the 88th store in the country, said Lotte Mart.

It will also open its 25th Indonesian outlet in Serang, some 75 kilometers (121 miles) west of the Indonesian capital, Jakarta.

With the additional two stores, Lotte Mart will have a total of 209 stores - 93 at home and 116 abroad. The discount chain store, run by retail conglomerate Lotte Group, became the first Korean retailer to have 200 outlets earlier this year.

“We will open more overseas stores in China and Indonesia and strengthen our competitiveness in the international market,” a company official said.

Lotte Mart’s overseas sales reached 2.6 trillion won ($2.3 billion) last year, compared with domestic sales of 5.9 trillion won. The firm’s domestic revenue is expected to rise to 7 trillion won this year.


Yonhap

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