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The Korea Herald
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THE INVESTOR
March 29, 2024

Industrials

Lotte to open another duty-free outlet in Vietnam

  • PUBLISHED :November 27, 2017 - 10:36
  • UPDATED :November 27, 2017 - 10:36
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[THE INVESTOR] Lotte Duty Free, Korea’s top duty-free operator, said Monday it will open its second airport outlet in Vietnam at the country’s southeastern city of Nha Trang next year.

The duty-free operator said it secured the exclusive rights to run the store until 2028 at Cam Ranh International Airport’s new terminal for international passengers.

The new outlet is scheduled to open in the first half of 2018, in line with completion of the new terminal, according to the company.

Lotte expects to bask in 700 billion won (US$644 million) in sales from the new store in the next 10 years.

Earlier this month, Lotte opened a chain at Da Nang International Airport, making it the first Korean duty-free operator to have tapped the Southeast Asian country. Part of the shop has been operational since May.

By Alex Lee and newswires (alexlee@heralcorp.com)

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