Lotte Duty Free has announced record sales of KRW7.5 trillion (US$6.72 billion) for last year, a 25 per cent increase over 2017.
A doubling in the brand’s online sales over the year period was a strong factor in the firm’s increase in overall takings, making up 25 per cent of total revenue. Lotte Duty Free’s flagship Myeongdong Head Office store and Lotte Duty Free World Tower locations also hit record trade figures, with sales up by 35 per cent and 80 per cent respectively.
“Even in the midst of rapid market changes, Lotte Duty Free has been able to [report] record-breaking sales [based on] 38 years of operating knowhow,” said Lotte Duty Free CEO Lee Kap.
