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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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
