Lotte Duty Free Shop, the world’s fourth-largest duty-free chain, said Thursday it has opened a store in Japan’s Kansai International Airport as part of its global expansion drive.
Lotte Duty Free and Kansai Airport Agency will jointly operate a 330-square-meter store at the regional airport near Osaka, Japan, until March 2020, the company said in a statement.
The duty free store operator said it has merchandised its first Japanese outlet with a focus on Korean cosmetics brands to cater to Chinese and Japanese shoppers that account for roughly 65 percent of airport users.
To go with the opening of its Japanese store, Lotte Duty Free Shop said it plans to open an online Japanese-language shopping site by the end of September. The company forecasts annual revenue from the online store to reach 10 billion won ($9.8 million).
The Kansai Airport store is the latest addition to Lotte Duty Free’s growing number of global outlets. The company currently operates six overseas stores in Indonesia, Singapore and Guam.
The Lotte affiliate has also bid to run a duty-free store at Sydney Airport. The results are due later this year. (Yonhap)
