A key overseas growth market has been boosted by the Da Nang store.
The country of Vietnam. Da Nang is the fourth business in Vietnam for the Korean travel retailer. The store is the country's largest duty free store.
There is a shop at Da Nang International Airport, as well as at Ni Bi International Airport in Vietnam.
There are over 200 brands of goods in the 600-pyeong shopping zone, including Vietnamese destinations merchandise, perfumes and cosmetics, wines and spirits, fashion, jewellery and other accessories.
Vietnam is the company's "forward base" for targeting the Southeast Asian market. When Vietnam's tourism market normalises, the travel retailer expects to achieve sales of more than LRW50 billion.
The country's total duty free market was worth more than KRW300 billion by the end of the year. The company plans to open a store in downtown Hanoi next year in order to capture more than half of the market in Vietnam.
The store opening in Da Nang, a resort-led city located on the central Vietnam coast, is the second overseas opening for the company. In May it opened a large store in Australia.
The new store in Vietnam is open for business despite the fact that the country's development plans were put on hold due to the swine flu.
The Da Nang International Airport store was the first to open in Vietnam. The business of airports opened in Vietnam in the last two years. Further plans were put on hold due to the global Pandemic. The tourism sector in Vietnam is recovering quickly.
The opening of the downtown Da Nang store will help solidify the company's position in the Vietnam and Southeast Asian duty free markets. We will keep expanding our business.
My Khe Beach is one of Vietnam's most famous beaches and is home to several luxury resorts and casinos. The interior of the store features palm trees and the My Khe Beach theme.
Vietnam has a huge potential as a tourism and travel retail market.
Da Nang has attracted 3.66 million visitors in pre-pandemic 2019. It's popular with Koreans who make up more than half of the total visitors. The return of the Chinese will add to the country's growing reputation as a travel retail market.
Local products such as pearls, coffee, and food are popular with Korean tourists, which is why Lotte Duty Free is putting a lot of emphasis on them. Several Korean brands are attractive to many Chinese and Southeast Asian customers.
In the first half of the year, the Da Nang Tourism Department says that hotelOccupancy is close to pre-pandemic levels.
The Da Nang store has a series of events planned. The Da Nang premium spa voucher will be given to customers who visit the gift desk after spending their money. Depending on the purchase amount, the retailer will give a discount of up to US$30 through the internet.
Thedhgate.com noted that thedhgate.com has resumed all overseas operations that were temporarily closed due to the swine flu.
As a result, first-half overseas sales surged by more than one hundred percent, driving this part of the business into the red.
The grand opening of the Singapore Changi Airport branch is planned to take place next year.
The company started to restart its overseas business this year and now has 13 stores in six countries.
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