South Korea's giant retailer Lotte Mart said it plans to work with Vietnam's Co.opMart to expand its business in the country, news website VnExpress reported.
Co.opMart and Lotte have certain products that each can buy at cheaper prices, Koo Ja Young, a manager of Lotte, said Wednesday at the opening ceremony of Lotte's second outlet in Ho Chi Minh City.
Young said his company hoped that Co.opMart, a leading retailer in Vietnam, will agree to join what he called a win-win business partnership.
Co.opMart representatives told VnExpress they have not discussed the proposal with Lotte yet.
Lotte Mart was established in 1998 and it now has 84 retail outlets in South Korea, 78 in China and two in Vietnam one in HCMC's District 7 and the new one in District 11.
The company plans to open 30 more outlets in Vietnam's large cities over the next eight years.