Lotte opens duty-free store in Vietnam
Tuesday, June 6,2017AsemconnectVietnam - Lotte Duty Free, a subsidiary of South Korea’s Lotte Group, has partially opened its first duty-free store in the central coast city of Danang, which will operate in full steam in August, according to Yonhap News.
Lotte decided to open the Phu Khanh Company at Danang International Airport because Danang is considered a popular destination for Korean tourists to Vietnam.
Lotte Vietnam Shopping Co Ltd, another subsidiary of Lotte Group, has confirmed the opening of a duty-free store in Vietnam. However, the number of duty-free stores to be opened in Vietnam has not been revealed.
Lotte, the third largest duty-free company in the world after Dufry of Switzerland and DFS of the U.S., is the first Korean firm to tap the Vietnamese duty-free retail market.
Lotte Vietnam has opened 13 supermarkets and commercial centers across the country. Lotte Department Store, another subsidiary of Lotte Group, has two large commercial centers in Vietnam: Diamond Department Store in HCMC and Lotte Hanoi Center in Hanoi.
Source: thesaigontimes.vn
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