Lotte Duty Free

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Retail Asia10/01/2019

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South Korea’s top travel retailer Lotte Duty Free reported best-ever sales of 7.5 trillion won (US$6.7 billion) last year on a surge in online sales and mass purchases by Chinese merchants seeking trade in shuttling goods to China. Lotte Duty Free said its annual sales last year hit a record high of 7.5 trillion won, up […]

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Retail Asia19/12/2018

LACOSTE has opened a new 30sqm duty-free store in Busan to further enhance their presence in Asia. This new store is located in LOTTE Duty Free, second largest duty free operator, in Busan, which is the second biggest city in South Korea. Travel Retail, often referred to as the “6th continent”, offers a unique opportunity to connect with […]

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Retail Asia23/11/2018

The winter promotion for Lotte Duty Free will kick off on 23 November and run until 2 January 2019. The large-scale event will see more than 50 overseas brands, including MaxMara, Ferragamo and Vivienne Westwood, offered at a discount of 20-80%. During the six-week promotion, any customers spending more than $1 at the retailer’s Myeongdong head office, World Tower, […]

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Retail Asia22/11/2018

South Korean retail giant Lotte’s duty-free operator Lotte Duty Free posted a rapid hike in overseas sales in its quarterly performance report. According to the company, sales for the third quarter this year hit a record-high 4.1 trillion won (US$3.6 billion), a 25 percent on-year increase. The sales from its downtown city stores and its overseas stores […]

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Retail Asia21/11/2018

Korea’s duty-free sales are likely to set a new annual record this year despite Chinese group tour traffic not having fully recovered. According to the Korea Duty Free Shops Association, duty-free store operators made $1.44 billion in October, a 28.6 percent increase year on year. This takes Korea’s total duty-free revenue between January and October […]

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Retail Asia19/10/2018

Lotte Duty Free has opened a new 519 square meters area at its flagship store in Myeong-dong, Seoul, with a strong emphasis on promoting small and medium-sized Korean brands. A highlight of the zone, located in the store’s Star Avenue, is ‘Blooming Beauty’, a shop-in-shop that houses around 130 brands, 60 of them small, emerging […]

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Retail Asia30/08/2018

Shilla Duty Free wins the bid against Lotte Duty Free for Gimpo International Airport’s five-year liquor and tobacco concession. Gimpo is South Korea’s third busiest airport and the core duty categories will now be divided between South Korea’s two biggest duty free retailers – Shilla and Lotte. Last month, the two travel retail giants were shortlisted for the five-year […]

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Retail Asia28/08/2018

Lotte Duty Free has bought a change of outlets in Australia and New Zealand from local operator JR Duty Free. The four Australian stories are in airports in Brisbane, Darwin and Canberra and in downtown Melbourne, while the New Zealand store is at Wellington airport. JR Duty Free reportedly operates seven stores in Oceania and […]

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Retail Asia20/08/2018

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South Korean duty-free operator Lotte has reported soaring profit following its decision to partially withdraw from Incheon airport. In the company’s first half report, it indicated solid worldwide sales accounted for the profit increase, which came to KRW155 billion (US$137 million) – up a staggering 1995 per cent. Total global sales hit KRW2.7 trillion (US$2.4 […]

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Retail Asia03/08/2018

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Lotte Duty Free exits its contentious Incheon International Airport Terminal 1 cosmetics, fashion and leathergoods contracts, to be replaced by Shinsegae Duty Free. As reported, South Korea’s duty free giant served notice on 13 February of its intention to quit three contracts – DF1 (P&C), DF5 (leathergoods & fashion) and DF8 (miscellaneous categories). The company […]

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Retail Asia25/07/2018

Korean duty-free shops are reviving their once-stagnant sales, with Lotte, Shilla and Shinsegae leading the turnaround. According to the Korea Customs Service on Saturday, duty-free sales in the first half of the year reached 9.94 trillion won ($8.79 billion), up 38 percent from the same period last year. If the trend continues in the second […]

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Retail Asia02/07/2018

Lotte Duty Free said Sunday that it has opened its second store in Vietnam at Nha Trang Cam Ranh International Airport as it strives to expand its presence in the Asian market and better serve Chinese and Russian visitors. The company, a major player in the duty-free business, said its new store started operating Saturday, […]

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Retail Asia22/03/2018

Lotte Duty Free announced today that it will exit three of its four loss-making concessions at Incheon International Airport Terminal 1 on 7 July. The move follows Incheon International Airport Corporation’s (IIAC) acceptance of the retailer’s contract resignation and Lotte’s payment of an undisclosed penalty charge. The exit date is 120 days from IIAC’s approval […]

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Retail Asia28/11/2017

Korea’s Lotte Duty Free will open its second Vietnam airport store in Nha Trang next year. The store is set to locate at Cam Ranh International Airport’s new terminal which is now under construction, and on track to be complete in first half of 2018. The operator expects to gain US$644 million in sales from […]

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Retail Asia24/11/2017

The campaign will begin 24 November and continue through to 4 January 2018, as the retailer aims to drive sales over the holiday season and New Year. Around 40 brands including fashion and accessories from Bally, Coach, Vivienne Westwood, Marc Jacobs and Tory Birch are on promotion for discounts between 20% and 80% at major […]

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Retail Asia14/11/2017

Lotte Duty Free submitted a report to the Fair Trade Commission regarding its rent feud with Incheon International Airport, according to the leading duty-free operator. Korea’s largest duty-free operator and airport have gone through four unsuccessful discussions on the matter since mid-September, but this is the first time one of them has called in state […]

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Retail Asia02/11/2017

Following a soft opening in May, Lotte Duty Free has expanded its presence at Da Nang International Airport in Vietnam, with an official opening today. As the first Korean travel retailer to tap Vietnam, Lotte now has two stores at the airport, one of 974sqm and the other 117sqm. The opening was timed so the […]

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Retail Asia26/06/2017

Lotte Duty Free is implementing a number of measures to combat the crisis situation caused by China’s ban on tourists visiting South Korea. Over 40 executives will return 10% of their salary in a bid to alleviate some of the pressure on the company as a result of the lost business. The senior executives have more than […]

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Retail Asia05/06/2017

Lotte Duty Free, South Korea’s top duty-free operator, said it has set up a new outlet at a Vietnamese airport, making a foray into the Southeast Asian market. Lotte clinched a joint venture deal with a Vietnamese counterpart to co-run Phu Khanh Duty Free at the Da Nang International Airport, it said in a statement. […]

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Retail Asia24/02/2017

Make-up products accounted for more than half of the annual sales at duty-free shops in South Korea last year, fueled by brisk demand from foreign tourists immersed in Korean entertainment culture. Fresh data from the Korea Customs Service and companies reveals the combined cosmetics revenue from duty-free chains, including top players Lotte Duty Free and […]

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