Lotte opens a multi-layered shopping complex in Vietnam

Lotte Mall Westlake Hanoi in Vietnam. [Courtesy of Lotte Shopping]

Lotte Shopping Co., the retail arm of South Korea’s conglomerate Lotte Group, on Thursday, announced plans to inaugurate its extensive commercial complex, Lotte Mall Westlake Hanoi on Sept. 22.

The construction of the mall served as the company’s entry into Vietnam after it pulled out of China in response to the country’s commercial retaliation against the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) on the Korean peninsula in 2016.

“The economy becomes vulnerable to low growth due to the aging population and low birth rate, which explains why global expansion is essential,” Lotte Group Chairman Shin Dong-bin said in a recent meeting with the heads of the company’s affiliates.

In advance of the official opening, the company plans to launch a pilot opening on Friday.

Hanoi West Lake, or Hồ Tây in Vietnamese, is Hanoi’s largest lake and a popular tourist destination. Adjacent to the lake is Lotte Mall Westlake Hanoi, which bears similarities to Lotte Town in Jamsil, Seoul. In the Jamsil area of Seoul, Lotte World Mall, a department store, and a hotel coexist harmoniously alongside Seokchon Lake.

The total floor area is 354,000 square meters, the equivalent of 50 soccer fields, making the mall the largest shopping center in Vietnam. “Lotte Mall Westlake Hanoi will become a landmark in Vietnam that allow visitors to enjoy a blend of nature, shopping, and culture experiences,” said an official from the company.

The shopping complex encompasses a hotel, cinema, and aquarium, as well as a shopping mall and supermarket. The shopping mall covers 7 floors, including 2 basements. Luxury brands, such as Chanel and Dior, along with athletic apparel brands, including Adidas, will be introduced. In addition to entertainment spaces, the mall features a food hall boasting a diverse selection of popular restaurants, including Korean foods. The shopping complex will accommodate 233 stores covering over 60 percent of the total area. “Massive windows of glass and an open garden on the rooftop are introduced to let visitors enjoy diverse experiences,” said the official.

The first basement will house the Lotte Mart, an innovative grocery store intending to boost the grocery display ratio by up to 90 percent. Bottle Bunker, a wine specialty store, will occupy around 800 square meters. Both sides of the shopping complex will encompass a hotel and office center.

The hotel L7 West Lake Hanovi By Lotte is a 23-story building with 264 hotel rooms and 192 residences. The 5-star hotel will be the first L7-labeled hotel to be built outside South Korea.

The Lotte World Aquarium Hanoi, hosting a 3,400-ton tank, will be the largest downtown aquarium in Vietnam. Lotte Cultureworks will introduce the 1,007-seat Lotte Cinema.