Lotte Vietnam Shopping Mall Joint Stock Company (Lotte Mart) and Hanoi Trade Corporation (Hapro) signed a cooperation agreement on 15/12 in Hanoi. This strategic partnership marks a significant step in Lotte Mart's expansion into northern Vietnam, while also advancing modern retail development in the region. A representative for Lotte Mart Vietnam highlighted the collaboration as a strategic move, leveraging the strengths and experience of both parties to create a modern retail model tailored to local characteristics and evolving consumer trends.

Hapro's representative expressed optimism that this cooperation will deliver substantial value to Bac Giang consumers. The partnership is also expected to foster sustainable strategic collaboration between the two entities within Vietnam's retail market.

Mr. Shin JuBack, General Director of Lotte Mart Vietnam (left) and Ms. Toan Au Le, General Director of Bac Giang Holdings Company at the cooperation signing ceremony. *Photo: Lotte Mart*.

The joint venture will see the development of Lotte Mart Bac Giang supermarket. It will be situated in the administrative center, specifically at Square and Pedestrian Street 3/2, Bac Giang ward, Bac Ninh province. The project encompasses a land area of approximately 6,900 m2 and a business floor area exceeding 6,250 m2, featuring two above-ground floors and one rooftop. This central location is surrounded by administrative agencies, public facilities, and urban amenities, making it a popular hub for cultural and social activities, festivals, and major provincial events.

The introduction of this modern supermarket model in Bac Giang extends Lotte Mart's brand presence and underscores the company's long-term development strategy in Vietnam. This initiative aligns with Lotte Mart's objective to establish a modern retail system across numerous northern provinces and cities by 2030.

Lotte Mart Bac Giang is anticipated to offer local consumers a modern, convenient shopping environment with a diverse range of products. This aims to meet the growing demand for quality products and retail services. Furthermore, the new model is expected to stimulate the local retail market, boost consumption, and enhance the overall shopping experience for residents.

(Source: Lotte Mart Vietnam)