China Information

Wednesday, January 10, 2007

Lotte Plans to Launch E-Commerce in China This Year

Japan’s biggest internet-based shopping company Lotte said on January 5 that in view of the flourishing market in China, it is planning to launch an e-commercial service in China in 2007.
Due to the aging and downsizing of population in Japan, opportunities of business growth are limited. Subsequently Lotte is planning to expand its business overseas. The company said in November that it intended to expand its electronic commerce in the US and Europe.
President and founder Hiroshi Mikitani also remarked in November that Lotte would concentrate on new business development instead of growing by acquisitions as in the past. He intends to establish 20 to 30 new businesses in 2007.

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