ID :
185723
Wed, 06/01/2011 - 06:20
Auther :
Shortlink :
https://oananews.org//node/185723
The shortlink copeid
Lotte Department to open outlet in Indonesia next year
SEOUL, June 1 (Yonhap) -- Lotte Department Store, a unit of South Korea's No. 2 retailer Lotte Shopping Co., said Wednesday that it will open a store and shopping mall in Jakarta in December 2012.
To that end, Lotte Department Store has signed a deal with Ciputra Adigraha, an Indonesian property developer, to lease floor space of 124,600 square meters in a building slated to be completed by June 2013, for 20 years, South Korea's leading department store chain said in a statement.
In a bid to tap into the Indonesian retail market, Lotte Department Store set up its Indonesian unit, named PT Lotte Shopping Plaza Indonesia, at the end of April.
The envisioned Jakarta store will raise the number of Lotte Department Store's overseas outlets to seven, the department store chain said.
Lotte Department Store has been operating its outlets in Moscow and Beijing, and is preparing to open stores in Tianjin, China, and Hanoi.
The department store chain also said it is considering launching its second outlet in Russia.
Lotte Department Store said it plans to open a total of 40 overseas stores by 2018 and to raise the ratio of overseas sales to overall revenue to 25 percent.
To that end, Lotte Department Store has signed a deal with Ciputra Adigraha, an Indonesian property developer, to lease floor space of 124,600 square meters in a building slated to be completed by June 2013, for 20 years, South Korea's leading department store chain said in a statement.
In a bid to tap into the Indonesian retail market, Lotte Department Store set up its Indonesian unit, named PT Lotte Shopping Plaza Indonesia, at the end of April.
The envisioned Jakarta store will raise the number of Lotte Department Store's overseas outlets to seven, the department store chain said.
Lotte Department Store has been operating its outlets in Moscow and Beijing, and is preparing to open stores in Tianjin, China, and Hanoi.
The department store chain also said it is considering launching its second outlet in Russia.
Lotte Department Store said it plans to open a total of 40 overseas stores by 2018 and to raise the ratio of overseas sales to overall revenue to 25 percent.
