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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 Group announced Tuesday a major investment plan to spend 50 trillion won ($43.9 billion) and hire 70,000 workers over the next five years. “The plan comes in order to normalize management activities, obtain a competitive edge for future growth and…
With Southeast Asia becoming the center stage for South Korean businesses in expanding their global presence, retail conglomerates like Lotte, Shinsegae and CJ have been successfully tapping into the markets. Lotte Group has focused its investments on its…
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…
Lotte Group Chairman Shin Dong-bin returned to the office on Monday, getting back to work immediately to resolve issues that were put on hold while he was imprisoned until Oct. 5. Shin was spotted heading to his office on the 18th floor of Lotte World Tower…
Lotte Group Chairman Shin Dong-bin is due to receive his appeals court sentence tomorrow. The leader of Korea’s largest retail conglomerate is facing up to 14 years in jail. Shin has already served eight months of the 30-month sentence he received over…
South Korean retail operators Lotte and Shinsegae are competing to buy the 21-year-old local subsidiary of Japanese convenience-store operator Ministop. Shinsegae and Lotte respectively own rival chains Emart24 and 7-Eleven and are both reportedly seeking to…
Spanish luxury designer brand Delpozo has entered into a partnership with South Korean firm KLH International to open six locations in South Korea. Two of the Delpozo South Korea stores have already begun trading, with the third opening shortly. The remaining…
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 Tour Development said Thursday it will hold a series of investor relations sessions next week in a bid to attract more investment to its resort construction project in the southern island of Jeju. Lotte officials will meet with institutional investors…
Lotte Department Store will open a big virtual reality (VR) theme park on the 10th floor of its branch near Konkuk University, eastern Seoul, on Friday. The operation, named Lotte Monster VR, will offer more than 60 VR attractions or rides. Previously, the…
Lotte said on Tuesday it has donated $100,000 to relief and reconstruction efforts following the Laos dam disaster in Attapeu. Oh Sung-yup, head of communications at Lotte Corporation, delivered the fund to Community Chest of Korea, a non-profit charity…
Following a new customer service strategy, South Korean travel retailer Lotte Duty Free exited part of its duty-free concession at Incheon International Airport Terminal 1 this Tuesday, 31st of July. Its tactical shift aims at providing greater focus to its…
South Korean retailer Lotte will launch a new department in charge of the business group’s online businesses this week. The move is part of a plan to speed up efforts to cope with the rapid expansion of the country’s online market. Earlier in May, Lotte…
