(아주경제 신기림 기자) Lotte Group, South Korea’s largest retailer, poises to take the upcoming Shanghai Expo for a chance to introduce a new concept of eco-friendly retailing and to share its vision for environment management.
As a part of the effort, Lotte is all set to promote the company by making the most of resources from both Korea and China. It even prepares to present the performance by “Lotte Girls”, a pop group in China with sponsorship from Lotte.
Korea’s fifth largest conglomerate plans to be one step closer to Chinese customers with the help from its affiliates in retailing including Lotte Mart, Lotte Chilsung Beverage, and its fast food chain Lotteria.
It has 58 affiliates in businesses across candy manufacturing, beverages, hotels, fast food, retail, financial services and construction.
Lotte currently operates its retail chain Lotte Mart in Beijing, Tianjin, and Qingdao. Starting with opening of the shopping store in Tianjin as late as in this coming July, the group aims to expand its overseas markets by establishing stores in Hanoi, Vietnam in 2013 and in Shenyang, China in 2014.
Chinese customer’s spending has continuously recorded an average annual increase of 10 percent in the recent decade. In particular, the up-scale shopping stores in China keep growing by 20 percent annually.
In order to tap into the potentially growing market, Lotte Shopping is looking for places to open the stores in major cities in China. Apart from Bejing, the big cities like Qingdao, Guangzhou, Hangzhou, Chengdu, and Wuhan are included in the list for possible sites to build the store.
China Lotte Mart acquired 65 stores from the local supermarket chain TIMES last October and grew up as one of the biggest retailers in China, managing 80 shopping malls.
It aims to be in the top 10 list in Chinese supermarket industry with three years by aggressively strengthening its presence in the local retail sector towards central and southern areas.
Especially, Lotte Confectionery accounted for 30 percent of the Chinese chewing gum market worth $300 million in 2006. Its gum brand Xylitol was remarkable in sales by selling about 59 million bottles containing 66 grams of the gum, with the revenue totaling 80 billion won.
In addition, the group is working hard on chemical and manufacturing industries. Honam Petrochemical Corp, Lotte Group’s major affiliate company specializing in petrochemical, and Lotte Aluminum currently operate their own factories in China and plan to build the massive industrial complex in Shenyang, one of the key areas for transportation in the Northeast of China.
Lotte plans to construct a general commercial-residential complex in Shenyang by 2015. The complex will include a Lotte Department Store, Lotte Mart discounter, and Lotte Hotel, as well as offices, apartments and entertainment facilities.
Lotte sets out for social corporate responsibility and environment protection, as well.
China Central Television (CCTV) currently airs the Korean performance program where Lotte group is exposed as one of most pro-China companies from Korean peninsula. By doing so, it is likely to increase the brand awareness among Chinese customers.
When the earthquake hit southwest Sichuan province, LG Group donated 170 billion yuan, 1,450 tents, 5,500 blankets, and $500,000 worth of aide relief tools. LG employees in China also contributed to the efforts of repairing broken electrical items.
Lotte continues to pay attention and give supports for the public welfare by annually giving contribution worth more than 1 million yuan
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