'Hanoi Hot Place' Lotte Mall West Lake, Accumulates 100 Billion KRW in Sales Just 4 Months After Opening

"An Unprecedented Record Even in Vietnam"
Cumulative Visitors Surpass 5 Million
Equivalent to 2 out of 3 Hanoi Residents Visiting

Lotte's locally largest commercial complex in Vietnam, 'Lotte Mall Westlake,' achieved cumulative sales of 100 billion KRW just over four months after its opening.

With a total floor area of approximately 354,000㎡ (about 107,000 pyeong), Lotte Mall Westlake had a soft opening on July 28 last year and fully opened on September 22. It is a mega commercial complex housing a shopping mall, mart, hotel, aquarium, and cinema. As of the 122nd day since the full opening, on the 21st of this month, cumulative sales reached 100 billion KRW, with an average daily sales of 820 million KRW. Lotte stated, "Surpassing cumulative sales of 100 billion KRW in less than half a year since opening is an unprecedented record in Vietnam."

Lotte Mall West Lake in Hanoi is bustling with many visitors.
[Photo by Lotte Department Store]

Lotte explained that the secret to Lotte Mall Westlake achieving cumulative sales of 100 billion KRW in such a short period was accurately targeting the demand of Hanoi citizens. Although Hanoi has experienced high economic growth, increased income levels, and expanding new city populations, it lacked large-scale distribution and commercial facilities. Lotte Mall Westlake fulfilled this demand.

Along with surpassing 100 billion KRW in sales, Lotte Mall Westlake also recorded over 5 million cumulative visitors. Considering Hanoi’s total population of 8.4 million, this means two out of every three people have visited. The cumulative number of purchases made by visitors reached approximately 600,000 transactions. Among the 233 stores in the shopping mall, 80 are specialized stores introduced for the first time in Vietnam. The Chanel Christmas pop-up installed outdoors last November became the most crowded photo spot in Hanoi, and the fountain plaza is also famous as a must-visit dating spot among young couples.

Lotte Department Store plans to further expand its overseas business following the success of Lotte Mall Westlake Hanoi. Previously, Lotte Department Store had already expanded its business capabilities by pioneering the Southeast Asian market early, opening the complex mall Lotte Shopping Avenue in Jakarta, Indonesia, in 2013. Currently, it operates four stores in Southeast Asia: three in Vietnam and one in Indonesia. Going forward, it plans to accelerate its Southeast Asian business by considering opening one or two premium shopping malls in Vietnam as a foothold.

Kim Jun-young, head of Lotte Department Store’s Overseas Business Division, said, "From the planning stage, Lotte Mall Westlake Hanoi aimed to be the best shopping mall in Asia beyond Vietnam," adding, "We will continue to make our best efforts so that Lotte Mall Westlake Hanoi can grow into a global business platform that contributes to the local community and helps attract foreign tourists."