Lotte Duty Free hopes to achieve USD200m in sales in Oceania during first year of trading

Lotte Duty Free hopes to achieve USD200 million in total sales, including online, across the Oceania region within its first year of trading (TR Business, 14-May-2019). Lotte Duty Free CEO Kap Lee commented: "eCommerce retail in Australia is booming - on the other hand, eCommerce travel retail in this country is not so developed yet... The goal of this year in the Oceania market, business stabilisation, is looking pretty successful so far. We will particularly focus on developing the eCommerce business henceforth". As previously reported by CAPA, Lotte opened its 2795sqm flagship store at Brisbane Airport in Mar-2019, following its acquisition of JR Duty Free Australia and New Zealand. Lotte also plans to open outlets at Darwin Airport, Canberra Airport and Wellington International Airport later in 2019. Lotte also acquired JR Duty Free's online businesses as part of its takeover.