Business Intelligence on Retailing, Franchising, and Consumerism in China

Lotte Mart Opens Its First Hypermarket In Beijing

The South Korean retailer, Lotte Mart, has opened its first hypermarket in Beijing at Gongyi Xiqiao.

With a total area of 24,000 square meters, this new hypermarket will provide a variety products, will have over 300 free parking spaces, and will host fast food restaurants serving Chinese, Western, Japanese, and South Korean delicacies. Compared with Lotte Mart's other stores in China, this new outlet has a larger store area and a wider range of products.

Lotte Mart only entered the Chinese supermarket business in 2008, with the acquisition of Makro. However, Lotte Mart's CEO for China has revealed that Lotte Mart headquarters regards China as its most important overseas market and will it accelerate the brand's expansion in China. Apart from the Gongyi Xiqiao store, the company is planning to open new stores in China each month from the second half of 2010.

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