Lotte Duty Free

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Retail Asia18/02/2017

Lotte Duty Free has reported a 26 per cent increase in turnover to W5.9 trillion (US$5.1 billion) for last year. The figures are believed to excludes sales from its overseas airport and downtown outlets (Guam, Indonesia, Tokyo), reports DFNI Online. For 2015, its sales reached W4.82 trillion, a decline from W4.55 trillion the previous year. […]

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Retail Asia21/01/2017

The drastic slowdown of the Chinese duty-free shopping phenomenon known as bakugai (“buying explosion”) continues to hit Japanese tax- and duty-free retailers, with several companies having sharp revenue falls in recent months. As a result of the slowing market, South Korean travel retailer Lotte Duty Free and its partners Bic Camera and New Kansai International […]

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Retail Asia20/01/2017

Hyundai Department Store Group plans to open a 14,005 sqm duty-free store in the CoEx Convention and Exhibition Center in Samseong-Dong, Seoul, late this year. Hyundai joined rivals Lotte Duty Free and Shinsegae in securing five-year licences last month to run downtown duty-free stores in Seoul. The SME licence went to TopCity, with Alpensia and […]

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Retail Asia19/12/2016

Lotte Duty Free, Hyundai Duty Free and Shinsegae DF have snatched licenses for new duty free shops in Seoul, showing that retail specialists will have the upper hand over non-retail firms struggling in the market. However, the big three firms still have to brace for harsh competition in the already saturated market, as well as […]

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Retail Asia04/08/2016

Asia is driving “significant growth” in the global airport retail market, according to a new report from Credence Research. This is based on the increasing disposable income of middle-class families in emerging countries coupled with affordable travel options, says the report, Airport Retail Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2022. Emerging […]

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Retail Asia11/04/2016

Tokyo’s new Lotte Duty Free Ginza is the largest duty-free store in the Japanese capital. Covering 4400 sqm, it occupies the entire eighth and ninth floors of the new Tokyu Plaza Ginza, at Sukiyabashi intersection, connecting the historic and cultural Hibiya district to Ginza, Japan’s most famous shopping street. With about 150 international brands, the […]

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Retail Asia21/03/2016

In news that rocked the Korean travel-retail and duty-free world last November, Lotte Duty Free and Walkerhill Duty Free lost major downtown licenses to Shinsegae Duty Free and Doosan Group respectively, following a ground-breaking decision by the Korea Customs Service (KCS). But could they be granted a reprieve following a public hearing this week […]

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Retail Asia01/02/2016

Lotte Duty Free’s $3bn 555m World Tower duty free store in Seoul has won three globally recognised and prestigious design awards for the first time in the Korean duty free business. Besides winning the ‘2015 Good Design Awards’ in the Environments category, the retailer also swept the board with three world-class prestigious design awards in […]

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Retail Asia30/11/2015

South Korea’s Lotte Duty Free has lost the licence to operate one of its large stores in downtown Seoul. Beleaguered Lotte – in the midst of a family feud over its management and on the eve of a planned IPO of its Hotels unit – has been displaced by heavy industries company Doosan Co in […]

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Retail Asia26/11/2015

Paul & Shark will launch its first store in South Korea with a new point of sale opening at Incheon International airport with Lotte Duty Free, and will also open its first personalised boutique onboard cruiseship Costa Fortuna. “Our new opening in Incheon will enable us to enjoy truly spectacular visibility for the brand. Along with the […]

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Retail Asia29/10/2015

With growing concerns of the effects of pollution on the skin in Asia, personalized routines are in demand now more than ever. International players like L’Oréal are looking to cater to this trend by developing even more specialized formulations that preserve, heal and improve the health of skin as well as offering services that allow consumers to […]

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Retail Asia02/10/2015

Chinese B2C e-commerce website JD.com and South Korean retail giant Lotte.com have signed a strategic cooperation agreement and an exclusive agreement under which JD.com will become the sole strategic partner of Lotte.com in the Chinese mainland for five years. JD said that with the strategic cooperation agreement, Lotte Group’s products and services will enter the […]

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Retail Asia29/09/2015

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South Korea’s retail and tourism industries are preparing a slew of promotional and cultural events to woo back Chinese tourists during a long-haul holiday season, pinning their hopes on making up for a summer slump in the wake of a viral respiratory illness, sources say. Since the first outbreak in late May, Middle East Respiratory […]

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Retail Asia26/09/2015

Shinsegae Co., a leading South Korean retail conglomerate, said Tuesday it will bid for a new duty-free store in downtown Seoul and relocate the current shop in the southern port city of Busan to defend the license set to expire this year. Shinsegae said it will apply for the highly competitive bid as three duty-free […]

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Retail Asia14/09/2015

Korea is becoming a major destination for young Chinese couples looking to splurge on expensive items for their upcoming marriages. Chen Yi, 34, and Chai Xuefang, 30, who recently visited Seoul from Shandong province, China, are typical of the growing number of couples who are sparing no expense to make their big day special. The […]

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