Lotte Mart
Encyclopedia
Lotte Mart is a hypermarket
in Asia that sells a variety of groceries, clothing, toys, electronics, and other goods. Lotte Mart is a division of the Lotte Co., Ltd.
which is one of the most prevalent food and shopping services in South Korea and Japan
. Lotte Mart, part of the Korean conglomerate "Lotte", opened its first branch at Guui-dong
, GangByeon, Seoul, Korea on April 1, 1998. In 2006, Lotte Mart opened its first overseas branch. As of August 8, 2011, Lotte Mart has 199 branches. (In Korea 92 branches, In China
82 branches, In Indonesia
23 branches, In Vietnam
2 branches). The brands that Lotte created and sell include Herbon, Wiselect, Withone, Basicicon, Tasse Tasse, and Gerard Darel.
by Korean businessman and Lotte Chairman, Shin Kyuk-Ho
. Shin named his company after a character called Charlotte in the novel The Sorrows of Young Werther
(1774) by Johann Wolfgang von Goethe
. After the Korean War
, in 1965 the relationship between Korea and Japan began to stabilize. Shin Kyuk-Ho launched Lotte Confectionary in Korea on April 3, 1967. Since launching Lotte Confectionary, the Lotte Company has expanded its business and now contains more than 60 business units, employing 60,000 people.
, an established supermarket chain from the Netherlands
; through the M&A deal. By purchasing Makro, Lotte Mart was able to link to the Chinese market. This was the first time Korean retail entered the Chinese market. There are now 82 branches of Lotte Mart in China.
, Vietnam.
, Incheon
, Samsan, and Jamsil
. This Toys R Us offers an extensive collection of toys, children’s clothes, and baby items from around the world. The Lotte Mart Company plans to open 20 more than Toys R Us stores by 2012.
Hypermarket
In commerce, a hypermarket is a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise...
in Asia that sells a variety of groceries, clothing, toys, electronics, and other goods. Lotte Mart is a division of the Lotte Co., Ltd.
Lotte (conglomerate)
Lotte Co., Ltd. is a South Korean-Japanese Jaebeol and one of the largest food and shopping groups in South Korea and Japan. Lotte was established in June 1948, in Tokyo, by Japanese-educated, Korean businessman Shin Kyuk-Ho – also known as...
which is one of the most prevalent food and shopping services in South Korea and Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
. Lotte Mart, part of the Korean conglomerate "Lotte", opened its first branch at Guui-dong
Guui-dong
Guui-dong is a dong, neighbourhood of Gwangjin-gu in Seoul, South Korea.-External links:* at the Gwangjin-gu official website...
, GangByeon, Seoul, Korea on April 1, 1998. In 2006, Lotte Mart opened its first overseas branch. As of August 8, 2011, Lotte Mart has 199 branches. (In Korea 92 branches, In China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
82 branches, In Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
23 branches, In Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
2 branches). The brands that Lotte created and sell include Herbon, Wiselect, Withone, Basicicon, Tasse Tasse, and Gerard Darel.
History
Two years after graduating Waseda Jitsugyo High School Lotte was established in June 1948, in TokyoTokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
by Korean businessman and Lotte Chairman, Shin Kyuk-Ho
Shin Kyuk-Ho
Shin Kyuk-Ho is the founder of Lotte group. He was born in Ulsan, South Korea, 1922 and founded Lotte in 1948, which grew from selling chewing gum to children in post-war Japan to becoming a major multinational corporation with overseas branches in dozens of countries and products shipped...
. Shin named his company after a character called Charlotte in the novel The Sorrows of Young Werther
The Sorrows of Young Werther
The Sorrows of Young Werther is an epistolary and loosely autobiographical novel by Johann Wolfgang von Goethe, first published in 1774; a revised edition of the novel was published in 1787...
(1774) by Johann Wolfgang von Goethe
Johann Wolfgang von Goethe
Johann Wolfgang von Goethe was a German writer, pictorial artist, biologist, theoretical physicist, and polymath. He is considered the supreme genius of modern German literature. His works span the fields of poetry, drama, prose, philosophy, and science. His Faust has been called the greatest long...
. After the Korean War
Korean War
The Korean War was a conventional war between South Korea, supported by the United Nations, and North Korea, supported by the People's Republic of China , with military material aid from the Soviet Union...
, in 1965 the relationship between Korea and Japan began to stabilize. Shin Kyuk-Ho launched Lotte Confectionary in Korea on April 3, 1967. Since launching Lotte Confectionary, the Lotte Company has expanded its business and now contains more than 60 business units, employing 60,000 people.
China
In December 2007, Lotte Mart bought out MakroMakro
Makro is a Dutch chain of Warehouse clubs, also called cash and carries. The first one opened in 1968 in Amsterdam. In the following years more stores opened in the Netherlands and in several other countries within Europe. In the 1970s and 1980s Makro extended its business to the Americas and...
, an established supermarket chain from the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
; through the M&A deal. By purchasing Makro, Lotte Mart was able to link to the Chinese market. This was the first time Korean retail entered the Chinese market. There are now 82 branches of Lotte Mart in China.
Indonesia
Continuing on their plan of expansion, on October 2008, Lotte obtained PT Makro Indonesia. PT Makro Indonesia ran 19 stores in Indonesia. This was also the first time Korean retail entered the Indonesian market.Vietnam
On December 18, 2008 Lotte Mart established its first branch in the 7th District of Ho Chi MinhHo Chi Minh
Hồ Chí Minh , born Nguyễn Sinh Cung and also known as Nguyễn Ái Quốc, was a Vietnamese Marxist-Leninist revolutionary leader who was prime minister and president of the Democratic Republic of Vietnam...
, Vietnam.
Toys R Us
Lotte Mart fulfilled to make a licensed contract with, the biggest toy store in the world in December of 2007, Toys R Us., The first Toys R Us opened in South Korea on December 8, 2007 by Wayne, N.J. It was opened in the, 37,000 square feet,Lotte Mart Guro Branch in Seoul, Korea. Other Toys R Us locations are in GuriGuri
Guri is a city in Gyeonggi Province, South Korea. The name "Guri" is thought by some to mean "nine villages," which is reflected in the Hanja for the town. It is located immediately to the east of Seoul, in the heart of the Capital Metropolitan Area.The Royal Tombs of the Joseon Dynasty are...
, Incheon
Incheon
The Incheon Metropolitan City is located in northwestern South Korea. The city was home to just 4,700 people when Jemulpo port was built in 1883. Today 2.76 million people live in the city, making it Korea’s third most populous city after Seoul and Busan Metropolitan City...
, Samsan, and Jamsil
Jamsil
Jamsil may refer to:* Jamsil Arena, an indoor sporting venue in Seoul, South Korea* Jamsil Baseball Stadium, in Seoul, South Korea* Jamsil Station, a station on the Seoul Metropolitan Subway...
. This Toys R Us offers an extensive collection of toys, children’s clothes, and baby items from around the world. The Lotte Mart Company plans to open 20 more than Toys R Us stores by 2012.