Most retailers build new warehouses to strengthen their e-commerce businesses.
Lotte Shopping reported 305.77 billion won ($260 million) in net profit in the third quarter, up more than 10,000 percent on year, according to a preliminary report released Thursday.
Lotte Mart is offering early retirement packages to employees for the second time this year as competition grows with e-commerce websites.
Lotte Department Store is offering early retirement packages for employees who have been with the company 20 years or longer.
Retailers are getting creative, or desperate, as they do battle with online shopping.
Lotte Shopping’s plan to buy a stake in Hanssem, the largest furniture seller in Korea, through a private equity group is expected to generate synergy effects for the Lotte Group that go beyond retail channels.
Lotte Shopping was selected Friday as a strategic partner by IMM Private Equity in its acquisition of Hanssem.
Lotte Shopping is investing 299.5 billion won ($260 million) as part of a bid to acquire a stake in Hanssem, Korea’s largest furniture company.
Lotte Shopping is opening a premium outlet mall in Uiwang, Gyeonggi, that promotes the themes of nature and healing.
Lotte Shopping is considering joining a bid for a stake in Hanssem, Korea’s largest furniture company.