Magazines Archives - 2008 November

Lotte growing aggressively through global acquisitions
Story 15 - News

IN its third overseas acquisition, Lotte Group, a South-Korean departmentstore chain conglomerate, added the Indonesian arm of Dutch discount-store franchise, PT Makro Indonesia, to its portfolio last month.

The 385.9-billion-won (US$277-million) deal came after its purchase of Makro China for RMB1.3 billion (US$188 million). Lotte plans to operate 300 hypermarkets throughout China over the next decade.

The group’s public relations manager, Na Geun-tae, said: “Indonesia is rapidly growing at over 6% every year. Although Makro was in the red last year, the showing is better now, and [the company] is expected to post a surplusat the end of the year.”

Despite a 19% year-on-year drop in its third-quarter net profit to 122.7 billion won, the group revealed that it would open its first Lotte Mart in Vietnam by this year-end.


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2008 Nov Stories:

Holiday sales: How much of this will be washed out by the economic storm?

Developers leading green-mall movement in Singapore

The NRA Show remains important as dynamic industry event

Top retailers feted at awards ceremony and gala dinner

Retail developers at ICSC Asia Expo pin hopes on Asian markets

Harvey Nichols boosts MAP’s status as retail powerhouse in Indonesia

Auric Pacific raises stake in Food Junction to boost industry presence

Orchard Central goes Med

US JCPenney launches Australian online portal

ViVOtech extends expertise technology to NFC public trials in Singapore

Elizabeth Arden brings Juicy Couture to Asia

Saigon Co.op on track to open 100 stores by 2015

Takashimaya, H2O Retailing to merge by 2011

bulthaup’s new clean line of furniture shies away from the trendy

Lotte growing aggressively through global acquisitions

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