Lotte opens fourth duty-free in Danang

November 17, 2022 | 14:36

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South Korea's leading travel retail group Lotte Duty Free has opened a duty-free store in the centre of Danang.

The duty-free chain is a joint venture between Lotte and a member of Imex Pan Pacific Group – one of Vietnam’s major retail groups – in a bid to cater to foreign visitors to Vietnam.

The duty-free store is over 2,000 square metres and features state-of-the-art fixtures, making it among the largest and most luxurious of its kind in the nation.

This duty-free downtown street gathers more than 200 world-class international brands with a wide range of products from cosmetics, alcohol, tobacco, and jewellery to watches and fashion. Global brands such as Christian Dior, Y.S.L, Gucci, Longines, Tissot, Michael Kors, and Coach all feature, as well as iconic South Korean brands such as The History of Whoo, Sulwhasoo, and Cheong Kwan Jang.

Lotte Duty Free began operations in Vietnam in 2017 with its first duty-free shop at Da Nang International Airport. In 2018, the company launched its second store at Cam Ranh International Airport and its third at Noi Bai International Airport in 2019.

The fresh Duty Free Shop in Danang city centre is Lotte's fourth store in Vietnam and the biggest downtown duty-free store in the country. It is anticipated that the store's annual sales will exceed $40 million when Vietnam's tourism sector returns to pre-COVID levels of prosperity.

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