“Earnings Rebound Continues”… LOTTE WELLFOOD Pursues a ‘Two-Track’ Strategy of Strengthening Domestic Operations and Overseas Expansion
Streamlining Production, Logistics, and Procurement… Business Restructuring Centered on Core Brands
Stepping Up Efforts to Penetrate the Indian and Kazakh Markets… Lotte Food Companies in South Korea and Japan Expand Collaboration
[E-Daily Reporter Kim Ji-woo ] LOTTE WELLFOOD(280360)is pursuing a two-track growth strategy aimed at improving the profitability of its domestic operations and expanding into strategic global markets. The company plans to continue its turnaround momentum, building on the operational efficiencies that drove a rebound in first-half earnings and its growth overseas.
Seo Jeong-ho, CEO of LOTTE WELLFOOD, is conducting a company-wide town hall meeting in the main auditorium at LOTTE WELLFOOD’s Yangpyeong-dong headquarters last August. (Photo courtesy of LOTTE WELLFOOD) LOTTE WELLFOOD announced on the 8th that it reviewed first-half performance and shared mid- to long-term growth goals with all employees during a town hall meeting held last month. At the meeting, the company presented its new vision: “A global comprehensive food company connecting the world through the joy of delicious food.”
Seo Jeong-ho, CEO of LOTTE WELLFOOD, emphasized improving domestic operations by strengthening core competitiveness and sustaining high growth in global operations as key strategies for mid- to long-term growth.
Domestically, the company plans to optimize its production network and improve logistics and procurement processes to enhance operational efficiency across the entire value chain. It also plans to strengthen its responsiveness to market demand by establishing a data-driven management system and boost profitability through marketing focused on core brands and portfolio optimization.
Overseas, the company will expand its market dominance in key strategic markets such as India and Kazakhstan. It will intensively nurture global core brands, including Pepero, and expand local distribution networks.
The company will also strengthen collaboration between Lotte Food subsidiaries in Korea and Japan, centered on the recently launched joint venture (JV) in Singapore. Through this, the company aims to expand “One Lotte” synergies by linking products and distribution networks and accelerate entry into new overseas markets.
In the first half of this year, LOTTE WELLFOOD recorded consolidated revenue of 2.1831 trillion won and operating profit of 100.5 billion won. These figures represent increases of 7% and 98%, respectively, compared to the same period last year. During the same period, revenue from overseas subsidiaries rose by 23%, driving the overall improvement in performance.
CEO Seo stated, “Based on the structural reforms implemented and the results of our overseas operations during the first half of the year, we have finalized our mid- to long-term growth strategies and goals,” adding, “We will continue to pursue sustainable growth by strengthening our core competitiveness and actively expanding into global markets.”
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