Lotte Duty Free wins a giant concession in SingaporeLotte Duty Free won the liquor and tobacco concession at Singapore’s Changi Airport, replacing DFS Group. Shilla Duty Free was reportedly one of the bidders for the tender, which closed in August.
Lotte will operate the business at the airport for six years starting in June 2020. At over 8,000 square meters (86,111 square feet), it will be the largest retail space Lotte operates at overseas airports, which includes those in Vietnam, Japan and Indonesia.
Singapore marks the eighth country in which the company has a presence.
“We express gratitude to people associated with Changi Airport for acknowledging Lotte Duty Free’s strengths and strategy,” said Lotte Duty Free CEO Lee Gap in a statement on Thursday.
“Wining the tender to operate business at Changi Airport is very meaningful in that we have established a bridgehead to achieve our vision of becoming the number one in global travel retail.”
By Jin Min-ji