Lotte Group taps local TV shopping market

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SaigonTimes English - 33 month(s) ago 17 readings

Lotte Group taps local TV shopping market

HCMC – South Korea’s Lotte Group has entered Vietnam’s TV shopping market by launching on Thursday Lotte DatViet Homeshopping Co. Ltd., a joint venture with local partner DatViet VAC Group Holdings.

Lotte Group taps local TV shopping market

By Quoc Hung - The Saigon Times Daily

Leaders of Lotte Homeshoping, DatViet VAC Group Holdings, and guests make a toast at the launch of Lotte DatViet Homeshopping yesterday - Photo: Quoc Hung
HCMC – South Korea’s Lotte Group has entered Vietnam’s TV shopping market by launching on Thursday Lotte DatViet Homeshopping Co. Ltd., a joint venture with local partner DatViet VAC Group Holdings.

The US$6-million joint venture, with the Korean group’s subsidiary Lotte Homeshoping holding a 85% stake, made its first public appearance at a ceremony held at the Intercontinental Asiana Saigon hotel in HCMC.

The company will provide consumers with new shopping conveniences by building a true supermarket on television, said Yong Ho Shin, general director of Lotte Datviet Homeshopping.

He told Daily that sale programs of Lotte DatViet Homeshopping will be aired around the clock from February 10 on TV shopping channel VCTV14 of Vietnam Cable Television, as well as on HTVC of HCMC Television.

The company said that storage facilities will be located in Hanoi and HCMC, and customers will be served via the toll-free telephone number 1800-1533. Goods delivery will be free of charge within two days after order.

Lotte DatViet will also provide after-sale services, prestigious and convenient guidance and maintenance with refund/exchange policy within seven days.

With its capability and investment, Lotte DatViet’s shopping programs will bring the practical efficiency to local viewers, and consumers as well as domestic manufacturers and distributors in Vietnam, according to a statement of the joint venture.

As domestic goods are to make up a committed 95% proportion, the joint venture said it would build a network of local manufacturers and suppliers nationwide. It will be an effective connector between manufacturers and consumers, playing an important role in the immature retail industry in Vietnam.

Lotte is the fifth largest conglomerate in South Korea with its total revenue of US$63.4 billion in 2010 and it has entered Vietnam with brands including Lotte Mart, Lotteria, Lotte Cinema, and Lotte Pie.

Lotte Homeshopping has constantly led the online retail market in South Korea since its establishment in 2001.

Meanwhile, DatViet VAC is one of the leading media and communication groups in Vietnam with nine member companies.

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