SEOUL, May 12 (Korea Bizwire) – Lotte.com, a major Korean online shopping mall, is offering a new custom-tailored shirt service that offers customers the convenience of placing orders from home, along with a men’s shirt brand called Luke & Dan. According to Lotte, the new tailoring service does not require customers to visit a store [...]
SEOUL, May 11 (Korea Bizwire) – South Korea’s retail conglomerate Lotte Group is ratcheting up efforts to promote its own mobile payment platform, L Pay, industry watchers said Wednesday, as such services gained popularity over previous months amid the rising number of smartphone users. Lotte Group chairman Shin Dong-bin was recently quoted as saying by [...]
SEOUL, April 6 (Korea Bizwire) – Retail giant Lotte Group is seeking to sell more of its hotel unit’s stocks to retail and institutional investors in a move to improve its cobweb-like corporate governance, industry sources said Wednesday. Hotel Lotte Co., the group’s hotel unit, has been preparing to go public on the Seoul bourse as [...]
SEOUL, March 19 (Korea Bizwire) – With traditional brick and mortar retailers feeling squeezed by the rapid growth of online shopping, a new tactic has them fighting back by building massive shopping malls that offer both shopping and entertainment at the same time. Lotte and Shinsegae have announced plans to build seven shopping malls (four by Lotte, [...]
SEOUL, March 8 (Korea Bizwire) – Lotte Confectionery Co., a food unit that stands at a critical position in the cross-shareholding structure, plans to conduct a 10-for-1 stock split to boost trading among retail investors. According to the Korea Exchange and finance, investment industry, the board of directors of Lotte Confectionery decided to cut the face value [...]
SEOUL, Feb. 12 (Yonhap) - The former vice president of Tokyo-based Lotte Holdings Co. on Friday called for a major reshuffle at the company to form new leadership, saying he will push for the listing of the company on the Tokyo bourse if he becomes the new chief. Shin Dong-joo, the first son of 94-year-old Lotte [...]
SEOUL, Jan.6 (Korea Bizwire) – Lotte Department store has started a service in which cosmetics products are delivered to a customer’s home on a regular basis. Store officials announced that Belief, a cosmetics brand from LG Household & Health Care, had started a subscription service. By subscribing to a cosmetics brand, customers can have cosmetics [...]
SEOUL, Dec. 21 (Korea Bizwire) – South Korean retail giant Lotte Group’s hotel unit applied Monday to be listed on the Seoul bourse, taking the first critical step to improve its transparency following a succession feud. Hotel Lotte said that it submitted the preliminary application for its initial public offering (IPO) to the Korea Exchange [...]
SEOUL, Dec. 18 (Korea Bizwire) – Famous Korean snacks have captivated the taste buds of Asian consumers, making overseas sales more important for local confectionery companies grappling with slower growth on home turf, data showed Friday. Major Korean confectionery companies are increasingly setting their sights on a wider market after seeing robust growth in China [...]
SEOUL, Dec. 9 (Korea Bizwire) – Lotte Confectionery Co., a unit of South Korean retail giant Lotte Group, said Wednesday that Lotte’s Japan operation will increase its stake in the affiliate, a move seen as part of efforts to cement the incumbent group chairman’s grip on the conglomerate amid a succession feud. In a regulatory [...]