15/40
  • Pages
  • Editions
01 The Moodie Davitt eZine 325
02 ELC – Dr.Jart+
03 Contents
04 ELC – Bobbi Brown
05 ARI Column
06 Elizabeth Arden
07 Elizabeth Arden Column
08 Nestlé
09 Top Travel Retailers: Introduction
10 Shiseido
11 Top Travel Retailers: China Duty Free Group
12 Cabeau
13 Top Travel Retailers: Dufry Group
14 INCC
15 Top Travel Retailers: Lotte Duty Free
16 Duty Free Americas
17 Top Travel Retailers: Lagardère Travel Retail
18 PMI
19 Top Travel Retailers: Shilla Duty Free
20 Bath & Body Works
21 Top Travel Retailers Conclusion
22 Lotte Duty Free
23 Melbourne Airport 1
24 Beam Suntory
25 Melbourne Airport 2
26 Nuxe
27 Travel Retail Highlights 1
28 Lego
29 Travel Retail Highlights 2
30 King Power
31 Travel Retail Highlights 3
32 Dufry
33 Travel Retail Highlights 4
34 Perfumist
35 Travel Retail Highlights 5
36 FAB
37 Travel Retail Highlights 6
38 Koma Karanth
39 Travel Retail Highlights 7
40 Subscriptions

The World’s Top Travel Retailers Report (continued)


Lotte Duty Free

2022 Sales (million)

€4,363

2022 Rank

3

Movement

▽1

Lotte Duty Free ranks third in our 2022 listings, with sales of KRW5,912.3 billion (€4,363 million based on exchange rates at 31 December 2022).

Lotte Duty Free continues to retain its leadership in Korean travel retail, with 2022 gross sales ensuring a share of its home market sales (all channels) of over 28%.

As in 2021, the company benefited from a strong daigou (reseller) business, online sales and support measures from government. From September 2022 this included a rise in the inbound duty free value allowance from US$600 to US$800, and in the alcohol limit for international arrivals from one litre to two. These and other government stimulus measures aimed to accelerate sales growth following the opening of Korean borders from 1 April 2022.

The company has made several gains at home over the past year, winning the Jeju Air inflight retail contract and the departures duty free retail concession at Jeju International Airport, as well as opening upgraded stores at Seoul Gimpo and Gimhae airports. But, clearly concerned about the future profitability of the airport business, the company also placed highly conservative offers for the Incheon International Airport duty free concessions in the bid earlier this year.

In terms of market reach, a key element to the Lotte Duty Free is its continuing expansion overseas. Its victory in the Melbourne Airport duty free tender in January marked a milestone for its regional and international ambitions. A big downtown store opening in Sydney, expansion at Singapore Changi Airport (liquor & tobacco), reopening in Japan (downtown), plus investment in Vietnam underline that growth mindset, and will play a part in dictating the retailer’s positioning in these rankings in future.

Lotte Duty Free’s international aspirations are enhanced by the surge in travel at its Singapore operations

Partner's message

The Moodie Davitt eZine

Issue 325 | 2 August 2023

The Moodie Davitt eZine is published 14 times per year by The Moodie Davitt Report (Moodie International Ltd). © All material is copyright and cannot be reproduced without the permission of the Publisher. To find out more visit www.moodiedavittreport.com and to subscribe, please e-mail kristyn@moodiedavittreport.com

Share this article: