is now the world’s largest company, a supermarket "Wal-Mart." In this year’s Fortune 500, Wal-Mart ranked first with 532.9 billion U.S. dollars in revenue. The retail industry can quickly meet people’s daily needs. Can better carry out business, and the development of these retail supermarkets is mainly to choose regional coverage. As long as they can gain a good reputation in the local area, customers will continue to consume. Lotte Group can also be regarded as a retail supermarket. The best of them entered China in 1994 and withdrew after 13 years of development.
As a Fortune 500 multinational company, Lotte Group is involved in tourism, petrochemicals, finance, etc., and has its own business in more than 20 countries around the world, but Lotte also ruined its great future because of its series of operations. .
In 2017, Lotte Group transferred a golf course under the company to deploy the THAAD system. Of course, this system is also an "unconventional" deployment, which has a certain degree of damage to the interests of our country. Due to this incident, the original development The smooth sailing Lotte experienced a "cold winter" and its sales performance in my country began to plummet. Even if Lotte's South Korea headquarters spent 2.1 billion yuan, it would not help to restore the situation.
After the public opinion subsided, Lotte Group publicly stated that it “loves China and hopes to continue to develop in China”, but the response received was mediocre, so Lotte plans to sell supermarkets in China, but the wave is still unresolved. , Its chairman Xin Dongbin was investigated for participating in a 7 billion bribery case and arrested. Xin Dongbin resigned as chairman in 2018.
suffered a blow to its operations. In May 2018, Lotte Supermarket sold 112 stores in China, 96 of which were sold, and all other 14 stores were closed. Subsequently, it began to sell Lotte Department Store , but Lotte Group also has some other businesses. It is basically in a state of suspension of business. At the end of the year, Lotte basically withdrew from the Chinese market. Among them, Liqun Commercial Group acquired Lotte Shopping Co., Ltd. in Hong Kong for US$150 million. So now most Lotte supermarkets The department store still exists, but it has changed its name.
Lotte Group's annual turnover is generally US$30 billion. The development of Lotte Supermarkets in China is basically at the same level as "Carrefour", but with the successive sales of businesses in China, Lotte also fell to 304 in the 2018 world brand rankings. At present, Lotte Shopping has also withdrawn from the ranks of the world’s top 500. Now Lotte’s business has gradually turned to Southeast Asia, but it has achieved little effect. Then, after three years of exiting the Chinese market, what is the status of Lotte?
currently has only three Lotte supermarkets in China, which are not good in terms of operating performance, but it is worth noting that although South Korea is very strong in the fields of electronics, automobiles, and metals, it has strong performance in the food and distribution industries. Not enough. At present, Lotte Shopping has the largest duty-free shop in Korea. Although sales and employees are less than 6% of Wal-Mart's, it is still the number one distribution company in Korea.
Many consumers in Asia who go to Korea to shop still choose to go to Lotte Duty Free Shop . The Seoul Myeongdong store can reach 3.5 billion U.S. dollars in sales a year, so Lotte’s development in Korea is actually not It hasn't been affected much. After all, it still retains its roots, and it is still the number one retail group in Korea.
is not difficult to see. The Lotte Group, which withdrew from China, not only suffered "heavy damage", but also basically all its business withdrew from China and was "removed" from the Fortune Global 500, which brought indirect losses to Lotte. Up to tens of billions, it can be seen that the current Lotte Group is not as brilliant as it was at the beginning.
