Lotte Mall West Lake Hanoi has surpassed 1 trillion won ($744 million) in cumulative sales, becoming the Korean department store operator's first overseas retail complex to reach the milestone, Lotte Department Store said Monday.
The landmark comes just over three years after the mall opened in Vietnam's capital. Sales reached 100 billion won within 122 days of opening in January 2024 and topped 600 billion won in 2025. With quarterly sales growing by an average of 20 percent, the cumulative total crossed 1 trillion won in October.
The complex has also attracted more than 41 million visitors, averaging over 50,000 a day, according to the company.
Located in Hanoi's affluent Tay Ho district, the 354,000-square-meter complex combines retail, entertainment and hospitality facilities. Of its roughly 230 stores at launch, 52 introduced brands making their Hanoi debut.
Lotte has sought to differentiate the mall through exclusive brands, more than 60 pop-up events annually and attractions including Lotte Mart, Lotte Cinema, an aquarium and L7 Hotel. The complex draws more than 1 million foreign tourists a year, according to the company.
Building on the sales milestone, Lotte plans to renovate about 50 stores, or 20 percent of its retail outlets, in the second half of 2026.
The revamp will bring in around 20 brands making their debut in Vietnam or Hanoi, including Matin Kim, WHO.A.U, Marithe Francois Girbaud, Barbour and Kenzo.
In early 2027, the mall will also open a 3,300-square-meter KOREA 360 cultural center showcasing K-pop, K-beauty and Korean drama merchandise.
"The 1 trillion won milestone marks a significant turning point for our overseas business," said Kim Joon-young, head of Lotte Department Store's overseas business division.
He added that the company would continue exploring opportunities to open additional stores in Vietnam.
yejinlim@heraldcorp.com
