Lotte Mart is implementing Chairman Shin Dong-bin's directive to expand its operations in Vietnam. Following the opening of a store in Tay Ninh in the south, the company has launched a new location in Bac Giang in the north, marking a shift from its previous strategy focused on major cities and tourist areas to include regional industrial cities.
According to the retail industry, Lotte Mart opened its 17th store, the Bac Giang location, on July 30, just three weeks after inaugurating its 16th store in Tay Ninh on July 9. During a visit to Lotte Mall Westlake Hanoi in April, Chairman Shin stated, "Vietnam is a key country for the group's global business," urging the enhancement of competitiveness in core sectors such as food and retail.
After a three-year hiatus in new store openings since the Westlake Hanoi location in 2023, Lotte Mart has resumed its expansion efforts this year. Previously focused on major cities like Ho Chi Minh City, Hanoi, and Da Nang, the company is now broadening its footprint into industrial cities like Tay Ninh and Bac Giang.
Bac Giang is rapidly developing as an industrial city, primarily driven by the IT and electronics manufacturing sectors, attracting a young workforce and families. The new Bac Giang store spans 1,940 square meters (about 20,900 square feet) and is designed for convenience shopping after work and family outings on weekends, with approximately 89% of its offerings consisting of food products.
The store features fresh produce under its private label, "Fresh 365," and sells packaged meat and seafood, diverging from the bulk display common in local stores. It also caters to premium demands with imported fruits, organic produce, and Korean-style marinated meats.
The store offers over 1,300 types of K-food. The ready-to-eat section, "Cooking Kitchen," targets industrial workers with lunch boxes and a mix of Korean and local dishes. The in-house bakery, "Pungmi-so," showcases over 100 varieties of bread, including meal breads, desserts, and those made with Korean ingredients.
In the non-food section, Lotte Mart is experimenting with space efficiency by consolidating products. Some household items, such as towels, disposable goods, and cleaning supplies, are exclusively stocked under Lotte Mart's private brand. The beauty section features uniform-priced products across three price ranges alongside K-beauty brands.
Both the Tay Ninh and Bac Giang stores are small to medium-sized, with 88% and 89% of their products being food items, respectively. Instead of targeting wide areas with a single large store, Lotte Mart plans to replicate its successful model of compact stores featuring verified food products, K-food, and private brands in growing cities.
Chau Cheol, CEO of Lotte Mart and Super, stated, "The Bac Giang store is a strategic hub responding to the retail demands of Vietnam's emerging industrial cities, based on Lotte Mart's accumulated expertise in fresh food. We aim to establish it as a representative shopping space in Bac Giang by operating stores tailored to local customers' lifestyles and consumption needs."
* This article has been translated by AI.
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