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Changi Airport Group has awarded its liquor & tobacco concession tender to Lotte Duty-Free. The company will succeed DFS Group when the concession contract expires next year. The awarding of the liquor & tobacco concession ends a fierce contest between some…
Online store sales at Lotte Duty Free (LDF) increased by 49 percent year on year to KRW1.4 trillion (US$1.85 billion) during the first half of this year. The firm is targeting total online sales of KRW2.9 trillion ($2.46 billion) by the end of the year,…
Lotte sanctions imposed by the Chinese government two years ago have now been lifted. Authorities in Shenyang have allowed South Korea’s Lotte Group to resume work on a US$2.6 billion retail and leisure development in the region following the lifting of…
South Korean travel retailer Lotte Duty Free is expanding into Oceania with the ambition to be the leading operator in Australia and New Zealand by 2023. The firm’s entry into the territory began with a grand opening ceremony at one of its new Australian…
Lotte Mart Vietnam has opened its third Hanoi store in Cau Giay District. The South Korean retailer’s new 2776sqm branch is located in the urban district, near seven local universities. Targeting local students, the branch will offer trendy but inexpensive…
For many in Korea, Lunar New Year is a time to meet relatives and exchange elaborately-packaged gift sets that could contain anything from fruits and raw meat to cans of Spam. But one side effect to this approach to gift giving is the excessive waste –…
The sale of convenience store chain Ministop fell apart as potential bidder Lotte and the Japan-based convenience franchise failed to agree on a price. The AEON Group of Japan, the largest shareholder of Ministop Korea, filed a notice on Monday that it has…
Lotte Group Chairman Shin Dong-bin told affiliate CEOs that he wants reform and aggressive investment in 2019 during a biannual meeting on Wednesday. Shin missed the last meeting in July as he was serving time in prison for bribery related to former President…
Korea’s antitrust body is examining the practice of retailers unfairly shifting distribution costs to their suppliers. The Fair Trade Commission (FTC) has started evaluation proceedings against Lotte Mart for transferring this burden and charging an onward…
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…
ondon-based high-end furniture and home furnishing store chain The Conran Shop will open its first South Korean outlet in the second half of next year in partnership with the country’s leading department store chain Lotte Department Store. Lotte Department…
Lotteria is raising burger prices. The fast food franchise announced Wednesday that it was going to raise the price of 11 of its burgers by an average of 2.2 percent. Its Teri Burger, for example, will now cost 2,300 won ($2.04), up from the original 2,000…
South Korean retail giant Lotte opened this week a new premium outlet in Giheung, Gyeonggi Province – the second-largest among its branches nationwide and the latest addition to large-scale malls launched by retailers here in hopes of raising offline sales.…
South Korean retailers enjoyed a big sales boost from annual shopping extravaganza they launched in November to join the world’s major shopping events like Black Friday in the U.S. or Single’s Day in China. According to industry sources on December 2, Lotte…
Technology and e-commerce trends are reshaping the global retail industry in profound ways, as the rise of online channels threatens to displace more traditional shopping experiences. However, Korea’s retail sector seems to be thriving in the face of this…
