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.
Convenience stores are trying to position themselves as more affordable alternatives to the big discount supermarkets, selling low-cost house-brand items including ramyeon and microwaveable rice.
Lotte Shopping reported a 34.52-billion-won ($30 million) net loss in the second quarter, a significant improvement from the 199-billion-won loss a year earlier.
More online fashion companies are targeting consumers in their 40s and 50s, as people in this age group are shopping online more due to the pandemic.
CU convenience stores are taking on e-commerce operators and giant retailers by allowing customers to buy more things from an app -- and delivering them to their doors for free.
TMON is postponing indefinitely its plan to go public.