Lotte Duty Free Ranks No. 3 in the World
Lotte Duty Free Ranks No. 3 in the World
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2015.07.24 10:15
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Lotte Duty Free was ranked No. 3 in the world in terms of sales.

According to the Moodie Report, an independent British magazine for travel retail industry professionals, on July 22, Lotte gained one notch in the 2014 list from the previous year to third after Dufry of Switzerland and DFS of the United States. In 2013, Lotte was ranked fourth after DFS, Dufry, and LS Travel Retail.

Last year, Lotte Duty Free was active in opening up new duty-free shops in Guam (July) and Kansai International Airport (September). At home, it opened a store in the Lotte World Tower building, reaching a sales revenue of 4 trillion won, first among Korea's duty-free shop operators. Through its eight local offices in China, including ones in Beijing and Shanghai, Lotte succeeded in attracting 1.3 million Chinese tourists to Korea, accounting for more than 20 percent of 6.3 million Chinese tourists entering Korea last year.

Separately, Lotte Duty Free of Japan and Korea are working together to pool their resources in the Asian market. According to Japan's business daily Nikkei on July 23, the two Lotte units will jointly open a downtown duty-free shop in Bangkok, Thailand, in March next year. This is in line with Lotte Group's strategy to increase partnership with units in both countries after Shin Dong-bin of Lotte Group Korea became president of Japan's Lotte Holdings.


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