Viet Nam News
HCM CITY – South Korean retailer Lotte plans to open a store in HCM City’s Gò Vấp District on April 28, which will bring the total number of Lotte Mart outlets in the country to 12.
Lotte Mart Gò Vấp on Phan Văn Trị will cost US$45 million, Hong Won Sik, general director of Lotte Vietnam Shopping, said.
The new store will have shops selling fashion and jewellery items, a food court, an entertainment area, a cinema, a supermarket area and other facilities.
The company has invested $600 million in its 11 stores the country, and plans to expand to 60 by 2020, he said.
Hong told a press conference in HCM City yesterday that more than 90 per cent of Lotte Mart’s products are sourced in Việt Nam, and it would strive to increase the rate.
This year the company would continue to organise programmes to promote exports of Vietnamese products to South Korea, he said.
Lotte Group would invest in a $2 billion property complex in HCM City’s Thủ Thiêm, he added.