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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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
