Lotte Opens Duty-Free Store in Australia

Published on 2019/03/31 | Source

Lotte has become the first Korean duty-free store chain to launch outlets Down Under, celebrating its entry with the opening of a store at Brisbane Airport in Australia on Monday.

Lotte signed a contract with Australia's JR Duty Free to acquire four stores in Australia and one in New Zealand in August last year.

The 2,795 sq.m shop at Brisbane Airport, the biggest of the five stores, sells about 600 brands of cosmetics, liquor, watches and other goods.

According to the World Tourism Organization, Australia attracted 9.1 million tourists in 2017, and its duty-free market is worth 14 billion Australian dollars (W11.25 trillion). Lotte expects to post more than W200 billion in sales there this year.

French, German and Swiss companies along with JR Duty Free account for 80 percent of the market there.