Lotte Department Store, a unit of South Korea's No. 2 retailer Lotte Shopping Co., said Thursday that it has launched its second store in Tianjin, China, in an effort to tap deeper into the world's most populous nation.
The new store is the department store's third outlet in China following the launch of its first Chinese store in Beijing in 2008. The department store opened its first Tianjin store in June 2011.
"We will aggressively operate our business in China with the launch of our second store in Tianjin," Shin Heon, chief executive of Lotte Department Store, said in a press release.
In early June 2011, the local leading department store chain said it plans to open a total of 40 overseas stores by 2018 and raise the ratio of overseas sales to overall revenue to 25 percent.
Lotte Department Store opened its first overseas store in Moscow in September 2007. (Yonhap)