South Korea’s Lotte faces boycott movement
March 6, 2017 Category Retail, Weekly
Several Chinese companies say they will no longer do business with South Korea’s Lotte Group, after it agreed to provide land in South Korea to host the U.S. anti-missile system THAAD, which China opposes. Authorities have also taken law enforcement action over the past few days against South Korea’s fifth-largest conglomerate. “We have completely scrubbed the name of Lotte from our website,” Chen Ou, Chief Executive of China’s biggest cosmetics group-purchasing platform Jumei Youpin, said. “We’d rather die than carry its goods in future.” Lotte operates five department stores and as many as 100 supermarkets in a dozen Chinese provinces since it extended its footprint into the country in 1994. An estimated 29% of Lotte’s global sales come from China, and Chinese tourists contributed 70% of sales at the group’s duty-free shops in Korea last year. JD.com, China’s second-largest e-commerce platform, closed its Lotte online site selling South Korea-made confectionery, without giving a reason. The anti-Lotte campaign now comes with a blacklist of Lotte’s subsidiaries in China, spanning beverages, chemical companies, cafés, cinemas and logistics operators.
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