Lotte Mall West Lake Hanoi, , has hit the 200 billion won ($145 million) milestone in sales in less than one year since its launch, driven by Korean-style pop-up stores for foreign luxury and fast fashion brands, the South Korean retail titan said on Monday. Lotte Department Store, the operator of the largest shopping mall in Vietnam, has introduced a Korean-style marketing strategy to attract young Vietnamese customers, riding the ongoing Hallyu, or Korean Wave. It took only five months that the commercial complex doubled its cumulative sales from 100 billion won recorded in January.
The cumulative number of its visitors has surpassed 8 million, nearly matching the population of 8.4 million in Hanoi. It became a landmark destination in the Southeast Asian country since after its trial run two months before.
Lotte Department Store said it has successfully transplanted the DNA of its branch in Jamsil, Lotte World Mall in eastern Seoul, which has established itself as a “pop-up mecca,” into Lotte Mall Westlake Hanoi. In Vietnam, 60% of the population is under the age of 40. At Lotte Mall West Lake Hanoi, customers aged 25 to 35 drove sales growth.
Lotte Mall West Lake Hanoi is the only shopping mall in Vietnam that stores popular fast fashion brands such as Zara, Uniqlo, Massimo Dutti, Pull&Bear, and Mango. It also houses popular local food and beverage stores such as Asian food restaurant Sadhu, Pizza 4P’s and specialty coffee brand Ten Thousand. Lotte is pursuing a “ .
