April 19, 2024
Retail & Consumer
Lotte Duty Free withdraws from Jakarta airport
[THE INVESTOR] Lotte Duty Free, said on Aug. 1 that it has pulled out of an airport in the capital city of Indonesia last month,.
Lotte’s duty-free store in Jakarta International Airport closed on July 31 after its contract expired, the company said. Opened in January 2012, it was the firm’s first overseas store. The closure comes at a time when local duty-free stores are struggling to cope with the diplomatic row between Seoul and Beijing that have impacted sales.
“We took part in the tender after our contract expired, but a local company won the bid,” a Lotte official said. “We will focus on our other foreign stores, including the one in downtown Jakarta, and continue to push for overseas expansion.”
Lotte currently operates six duty-free stores abroad including ones in Japan, Vietnam and Thailand.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Lotte’s duty-free store in Jakarta International Airport closed on July 31 after its contract expired, the company said. Opened in January 2012, it was the firm’s first overseas store. The closure comes at a time when local duty-free stores are struggling to cope with the diplomatic row between Seoul and Beijing that have impacted sales.
“We took part in the tender after our contract expired, but a local company won the bid,” a Lotte official said. “We will focus on our other foreign stores, including the one in downtown Jakarta, and continue to push for overseas expansion.”
Lotte currently operates six duty-free stores abroad including ones in Japan, Vietnam and Thailand.
By Alex Lee and newswires (alexlee@heraldcorp.com)
