Lotte Department Store seeks to set up in Shanghai

Lotte Department Store is preparing to operate shopping exhibitions in Shanghai.

The first will be a business fair to attract domestic brands who wish to set up stores in Shanghai. Lotte, who partnered with the state-owned Citic Group, will start operation of the Citic Square Mall in March.

The event will take place in Lotte Department Store’s Yeoungdeungpo branch on Friday. Through Monday, more than 200 companies in food, fashion or retail had expressed interest in participating, according to the company.

In October, Lotte and Citic signed a deal to establish a joint venture and manage operation of shopping exhibitions including the Citic Square Mall and three more to be built between this year and 2019.

Lotte Department Store runs five branches in China in four cities.