Business Intelligence on Retailing, Franchising, and Consumerism in China


Makro Fully Integrated Into Lotte

Lotte has finally finished the integration of Makro in China after it acquired the latter five months ago.

All Makro stores will change their name to Lotte Mart and Lotte's first self-opened store in China was opened in Wangjing on June 18, 2008.

At the end of January 2008, Lotte Group, a major Korean business group, wholly acquired Makro Supermarket, a Netherlands brand that has operated in China for 11 years, for CNY1.28 billion. Over the past five months Lotte has been busy integrating the Makro supermarkets into the group. With the integration, Lotte has shifted the supermarkets' focus from wholesale to retail. In addition, they will become another sales channel for the food products of Lotte Group.

After the acquisition, Lotte retained all the employees and senior managers of Makro with the exception of the general manager. Because of differences in management styles between the two companies, the Makro employees were retrained by Lotte.

According to Lotte China, the group will open 200 to 300 stores in China in the next ten years. However, considering the competition in this marketplace the group will only open 15 to 20 marts in Beijing.

At present, Lotte owns eight store in China, including six in Beijing and two in Tianjin, and the group has been selecting new sites in cities and provinces such as Beijing, Tianjin, Shandong, and Liaoning.






Be the first to comment on "Makro Fully Integrated Into Lotte"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco