Lotte to Open Duty-Free Stores in Singapore Next Year
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Lotte has won a concession to operate stores at Singapore Changi Airport.
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"We've won a concession tender to operate duty-free stores at both the arrivals and departures terminals of the airport for six years starting in June next year", a Lotte spokesman said on Thursday.
Lotte's duty-free store in the airport in Singapore will become its largest among those overseas.
The world's sixth-ranked airport in terms of passenger traffic handled 61.57 million visitors in 2017, slightly more than Incheon International Airport, which ranked seventh with 61.52 million. Lotte plans to focus on selling liquor and tobacco products there.
Lotte opened five new duty-free stores in Oceania early this year. It opened another one in Hanoi, Vietnam in July.
Once the stores opens in Singapore, Lotte will have duty-free businesses in eight countries, including Guam, Indonesia, Japan and Vietnam.