Lotte Duty Free open stores in gateways to Oceania

Lotte Duty Free store"s opening ceremony at Brisbane International Airport on Mar. 25, 2019. [Photo provided by Lotte Duty Free]

Lotte Duty Free became the first Korean duty-free name to open stores in the gateways of Australia and New Zealand.

The country’s top travel retailer on Monday held an event celebrating its entry into Oceania in Brisbane Airport. More than 100 people including its chief executive Lee Gap, Lotte Hotel CEO Song Yong-dok, Brisbane Airport CEO Gert-Jan de Graaff, Korean Consul-General in Sidney Yoon Sang-soo and members of Korean boy band EXO as advertising models participated in the ceremony.

Lotte Duty Free began operating four duty-free stores in Australia and one in New Zealand in January this year after signing contract last August. Its 2,795-square-meter shop in Brisbane Airport hosts more than 600 brands.

“Lotte Duty Free has gained a foothold to grow as the world’s leading duty-free operator following the entry into the Oceanian region,” said Lee during the event. “We will work hard to become an industry leader in Oceania by 2023.”

Lotte Duty Free store Nha Trang Cam Ranh International Airport in Vietnam. [Photo provided by Lotte Duty Free]

The company now running 12 stores in 7 countries around the world expects it would rake in more than 200 billion won in revenue in Australia this year. It plans to open two additional shops in Vietnam in the first half of this year - in inner city of Da Nang and gateway in Hanoi. It aims to achieve 1 trillion won in sales from overseas business by 2020.

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