Lotte Shopping wins industry award

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Lotte Shopping wins industry award

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Shin Heon

Lotte Shopping, the retail arm of Lotte Group, was chosen as the International Retailer of the Year by the United States-based National Retail Federation, becoming the first Korean retailer to receive the annual award.

Shin Heon, chief executive of Lotte Shopping, attended a 30-minute awards ceremony held yesterday at the Jacob K. Javits Convention Center in New York. Around 3,000 retail industry representatives from around the world attended the event.

“This award will serve as a big motivation to the long-range plans Lotte Shopping has and also as an opportunity to solidify its footing as a global company,” Shin said. “We will put out our full efforts in providing quality products and services as a global retailer and fulfill all the social responsibilities we bear.”

The National Retail Federation, which was established in 1909, is the largest retail trade association in the world. Around 9,000 retail companies from 45 different countries are members of the federation.

Previous winners of the International Retailer of the Year award include Japan’s Fast Retailing, the Uniqlo parent company, and Britain’s Arcadia Group, which owns British Home Stores.

The award is given to a retailer that shows dynamic leadership in boosting international cooperation among global retailers and makes a positive impact on the industry by setting new trends.

Nike received the Innovator of the Year award and Costco received the Gold Award.

“We were able to be named as the International Retailer of the Year award as we were recognized for our sales volume, the possibility of growing sustainably and the competitiveness to overcome the low [economic] growth era,” said an official from Lotte Shopping. “We were also noted for our innovation in merchandising and marketing.”

BY LEE EUN-JOO [angie@joongang.co.kr]
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