SOUTH KOREA. Lotte Duty Free has kicked off a year of celebrations to mark its 40th anniversary with its first major sale of 2020.
Lotte Duty Free opened a souvenir shop in Seoul on 21 January 1980, followed by its first imported goods duty free store on 21 February that year. The two adjacent outlets, covering 1,487sq m on the eighth floor of Lotte Department Store in Myeong-dong, were initially branded Lotte Duty Free Department Store.
Today the company is Korea’s biggest travel retailer and the world number two according to the industry benchmark Moodie Davitt Report Top 25 Travel Retailers ranking. The Moodie Davitt Report will bring you exclusive dedicated coverage of the retailer’s anniversary celebrations throughout the year.
Lotte Duty Free CEO Lee Kap said that the anniversary year will be celebrated with a key visual designed by renowned English pop artist Stephen Wilson. The retailer unveiled the 40th anniversary emblem, desktop calendar, and shopping bags in collaboration with Wilson last month. Lotte Duty Free will continue to release various products in collaboration with leading international brands throughout the anniversary year.
Lotte is offering a series of discounts of up to -90% on leading brands in its winter sale. Featured brands include Max Mara, Bally and Tumi. Discounts vary by store and brand.
Lotte Duty Free Korean loyalty members who spend over US$300 at the Myeong-dong or Coex stores in Seoul will receive up to KW830,000 (US$710,000) in LDF Pay, the retailer’s digital payment platform launched last May.
Korean members who shop on Fridays, Saturdays and Sundays can enjoy an additional KW30,000 (US$26) worth of LDF Pay benefits depending on the purchase amount and use of the card.
Other promotional benefits include theatre tickets for popular shows. Promotions are also being held at Lotte Duty Free’s Gimpo and Incheon airport stores.
Lotte Duty Free has also been running an exclusive, limited-edition ‘Red Edition’ K-Beauty promotion since November featuring numerous Korean cosmetics brands.
Lotte Duty Free Head of Marketing Kim Jong-hyun said, “In celebration of our 40th anniversary in 2020, we have prepared a series of promotions with various benefits to reward our customers’ loyalty.”
Going strong on Globuy
As a lead business partner of The Moodie Davitt Report, Lotte Duty Free’s story will also appear in Chinese and with a consumer voice on fast-growing Chinese B2C WeChat social media account Globuy [玩转全球免税], as part of a new collaboration between Globuy owner Extra-Aile Media in Shanghai and The Moodie Davitt Report. Globuy aims to become “the KOL of Chinese travel retail” and already has 400,000 followers and a monthly audience of 1 million views for its WeChat social media platform promoting new launches, product availability, promotions and special offers. Underlining the strong affinity and complementary nature of the two companies’ work, Globuy has dubbed The Moodie Davitt Report “the KOL of travel retail B2B media” Under the agreement, selected stories from The Moodie Davitt Report.com’s lead brand partners in beauty, fashion, luxury, confectionery and premium spirits are also published by Globuy in Chinese. These include product reviews by the Globuy team. Globuy is promoting The Moodie Davitt Report’s platform to China’s travel retail sector and to its own consumer audience in China. The Moodie Davitt Report subsequently also publishes a curated selection of Chinese consumer feedback on the chosen stories and will reveal the results of regular consumer surveys conducted in association with Globuy. |
