NEWS ROUND-UP Lotte DF’s H1 sales rise 29% to $2.4bn
profile ‘Yum’ brand advertising campaign in June and carried out a three-day beauty event in collaboration with L’Oréal Travel Retail Asia Pacific from 1-3 August at the retailer’s main store in Myeong-dong, Seoul. According to Lotte, this is just one in a number of numerous downtown events due to follow. As a result of the aforementioned
Lotte Duty Free registered sales of KRW2,700.9bn ($2.4bn) – an increase of 29% year-on-year – and operating profit of KRW155bn ($137m) in the first half of 2018, excluding its operations in Busan. According to Lotte, the bump in sales is
due in part to decreased rent payments, as the company exited three out of four loss-making contracts at Incheon International Airport at the end of last month. The company has been compensating
for the store closures with an aggressive marketing strategy, which is being conducted at downtown stores and online, in order to retain customers. The company recently launched a high
campaign and activation, duty free sales in the city increased by 44% year-on-year and online duty free sales grew by 50%. As previously reported, Lotte registered
first quarter revenue of KRW1,262.9bn ($1.2bn) in 2018, with a strong push from its overseas business in Vietnam. However, figures for both the first and
second quarters of this year may seem more flattering this year due to the ‘major crisis’ Lotte had to endure last year. As reported, Lotte confirmed to
TRBusiness a loss of KW29.7bn ($26.1m) during its second quarter reporting period (April-June) last year, with the decrease in sales caused mainly by the collapse of organised Chinese tours due to the THAAD missile issue. Later on that year, a Lotte spokesperson
QDF opens new Tiffany & Co boutique in Doha
Qatar Duty Free (QDF) has opened a new Tiffany & Co. boutique at Hamad International Airport Concourse B. The new Tiffany & Co. boutique will offer
a range of classic and contemporary pieces. Head of Qatar Duty Free, Thabet Musleh
said: “We are delighted to reveal the new Tiffany & Co. boutique at HIA to showcase a sensational shopping experience for our customers. The world-renowned brand offers travellers an exquisite collection of luxury jewellery and gifts, which further enhances the five-star experience at the award-winning airport. “We are committed to building Qatar
Duty Free’s extensive profile of luxury brands and with the opening of Tiffany
& Co., we are fulfilling our promise that QDF is indeed an experience worth travelling for.” Tiffany & Co. VP for Middle East & Africa
Joe Nahhas added: “We are delighted to unveil our first branch at HIA in collaboration with the multiple award- winning travel retailer, Qatar Duty Free.”
Gebr. Heinemann to offer Chinese payment services
Gebr. Heinemann has struck a partnership with digital financial technologies specialist Wirecard to implement the most popular Chinese payment methods at Heinemann Duty Free and Travel Value stores. Platforms including Alipay are being
integrated into the Hamburg-based travel retailer’s central checkout systems, with an initial launch spanning 13 airports, including its home bases in Germany, acting as a precursor to a global rollout. Raoul Spanger, Executive Director Retail
& HR Gebr. Heinemann said: “Chinese tourists are becoming an increasingly important target group worldwide. “We are pleased to now be able to offer
our Chinese guests their domestic mobile payment methods thanks to Wirecard. “Through the marketing platforms
provided by Alipay, for example, we will be able to provide them with personalised offers for our range of products before they leave.”
predicted a recovery in the second quarter of 2018. “We are just hoping the situation will
improve gradually and expect to see the rebound of [the] market after or around the second quarter of next year,” they said.
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