‘K-Shopping Mall’ Takes Off in Vietnam... Lotte Mall Hanoi Hits 1 Trillion Won in Cumulative Sales in 3 Years

Cumulative Visitors Top 41 Million, Averaging 50,000 a Day
Attracting 10 Million Foreign Visitors Annually Through a "Premium Localization Strategy"
Revamping 50 Stores Starting in the Second Half of This Year to Lay the Foundation for Future Growth

Lotte Department Store's Lotte Mall West Lake Hanoi in Vietnam surpassed 1 trillion won in cumulative sales just three years after opening. It is the first overseas location operated by a Korean department store to reach this milestone. The achievement reflects the strength of its premium strategy targeting Hanoi's affluent residents, combined with the appeal of a complex that brings together shopping, culture and leisure. Lotte Department Store plans to sustain growth through a major store revamp and expanded K-content offerings, while also considering additional locations in Vietnam.

Lotte Department Store said on November 2 that Lotte Mall West Lake Hanoi had surpassed 1 trillion won in cumulative sales in October. It recorded 100 billion won in cumulative sales in January 2024, 122 days after opening, and exceeded 600 billion won last year. Sales have continued to grow by an average of 20% per quarter since then, and the mall reached the 1 trillion won milestone three years after opening.

Cumulative visitor numbers have exceeded 41 million. That is nearly twice the combined population of Vietnam's five largest cities, including Ho Chi Minh City and Hanoi, which is about 23 million. The mall has drawn everyone from young people seeking new attractions and high-value customers who enjoy premium shopping to families gathering for holidays or heading out on weekend excursions. With more than 50,000 visitors a day on average, it has established itself as a local "people's shopping mall."

A view of Lotte Mall West Lake Hanoi, located in Tay Ho District, Hanoi, Vietnam. Photo provided by Lotte Department Store.

52 Brands Making Their Hanoi Debut, and Synergies from Pop-Ups and Tourism

Lotte Department Store differentiated the mall starting with its tenant brands. Of the more than 230 stores when it opened in September 2023, 52 were brands making their debut in Hanoi. The mall also shared benefits from AvenueL, its premium customer service program, with the nearby Lotte Department Store Hanoi. This allowed it to appeal simultaneously to consumers looking for new brands and customers seeking premium service.

The company also focused on securing experiential content to keep customers coming back. Last year, Lotte Group held its first "Global Job Fair" to recruit talent overseas. Thousands of people flocked to a large Pepero pop-up store created in collaboration with Lotte Wellfood. The mall has broadened its use beyond retail, hosting recruitment events and brand experiences as well.

It also holds more than 60 pop-up events a year in collaboration with luxury cosmetics brands, global intellectual property (IP) holders and public institutions. By presenting a steady stream of diverse content, it has established itself as a local "pop-up destination." More than 1 million foreign tourists visit annually, and the mall has grown into one of Hanoi's major tourist attractions.

Facilities operated by other Lotte Group affiliates in the mall have also helped attract visitors. Lotte Mart has captured travelers' pre-departure shopping demand with its fresh food and tourist-focused sections. The aquarium attracts families with underwater mermaid performances in Vietnam's largest curved aquarium tank.

Lotte Cinema has broadened the reasons to visit by adding concerts and live esports broadcasts to its movie screenings. L7 Hotel was named one of the "Top 10 Luxury Hotels in Vietnam" by a global travel platform. The company says that customer traffic across the shopping, tourism and accommodation facilities has strengthened the competitiveness of the entire complex.

The "Kids Fashion Show" presented at the Atrium Plaza on the first floor of Lotte Mall Westlake Hanoi. Photo courtesy of Lotte Department Store.

Revamping 20% of Stores and Expanding K-Culture Experiences

Lotte Department Store is planning its largest renovation since the mall opened, to take place in the second half of 2026. The main elements are attracting new brands, creating a signature space for the mall and expanding K-culture experiences. 

First, it will revamp about 50 stores, equivalent to around 20% of the mall's total stores this year. The move is intended to respond to changing consumer demand three years after opening and strengthen the content offering to encourage repeat visits. The mall will introduce about 20 stores making their debut in Vietnam or Hanoi, including K-fashion brands Matin Kim, WHO.A.U. and Marithe Francois Girbaud, as well as Barbour and Kenzo.

The central atrium plaza on the first floor, which hosts large-scale pop-up events, will also be revamped. The 280-pyeong plaza will be redesigned as a premium space symbolizing Lotte Mall West Lake Hanoi. The space's design will be improved to draw the attention of both domestic and foreign visitors, and the mall will host not only large pop-ups but also luxury brand exhibitions.

In the first half of 2027, Lotte Department Store will partner with the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency to open Korea 360, a 1,000-pyeong K-culture experience center on the fourth floor. Korea 360 is a dedicated K-content space first introduced at Lotte Mall Jakarta in Indonesia in 2023. It is designed to connect interest in Korean culture with shopping and hands-on experiences. The Hanoi location will focus on K-beauty, K-pop and K-drama. It will combine sales of related products with experiential content and host events such as fan meetings. The plan is to let local consumers and tourists visiting the mall experience Korean products and culture together.

Lotte Department Store will also expand the role of Next Lab, an overseas expansion platform for K-fashion brands that it first introduced in July 2026. The space helps Korean brands gauge local consumer responses and establish themselves in overseas markets. Starting in November, it will also operate a pop-up store for Emis, a fashion and lifestyle brand. Lotte Department Store plans to use the platform to develop West Lake Hanoi into a hub for K-fashion brands expanding into Southeast Asia.

Kim Junyoung, head of Lotte Department Store's overseas business division, said, "Lotte Mall West Lake Hanoi's achievement of 1 trillion won in cumulative sales, a first for an overseas department store, will be an important milestone for our future overseas business. Building on the mall's success, we will continue to consider opening additional locations in Vietnam."

This content was produced with the assistance of AI translation services.