Lotte Duty Free gains two more years at Brisbane Airport after lease renewal

By Luke Barras-hill |

Lotte Duty Free moved to acquire the JR/Duty Free-run business at Brisbane Airport in 2018 and has operated there ever since.

Brisbane Airport Corporation (BAC) has renewed Lotte Duty Free’s concession lease at Brisbane Airport International Terminal for a further two years.

BAC says the decision reflects the strong partnership enjoyed by both parties.

As reported, Lotte Duty Free took over the then JR/Duty Free-controlled Brisbane Airport concession in 2019 after acquiring JR/Duty Free’s interests in Australia and New Zealand.

Lotte Duty Free’s flagship store in Australia spans 2,795sq m across arrivals and departures.

It comprises a first-of-its-kind specialised whisky bar and more than 600 local and luxury international brands in beauty, fragrances, liquor, wine, technology, watches, confectionery, and more.

CONTINUED INVESTMENT

The South Korean travel retailer confirms it will continue to invest in upgrading the store, including a new La Prairie outlet.

“In the short time we have been partners, we have been extremely impressed with the way in which Lotte Duty Free continually innovates and adapts, particularly in the face of the Covid-19 pandemic,” said Martin Ryan, Executive General Manager Commercial, BAC.

“Lotte has been significantly impacted due to border closures and loss of passengers, but their positive approach and optimism has remained a constant throughout this difficult period.

The flagship Lotte Duty Free store features a specialised whisky bar that is the first of its kind in a duty free store in Australia.

“I would like to congratulate Lotte Duty Free CEO Kap Lee, and Lotte Duty Free CEO Oceania Stephen Timms, for their ongoing partnership and renewed commitment to doing business in Australia with Brisbane Airport as its flagship Duty Free store.

“After all we have endured in the past 24 months, the future is undeniably bright and we look forward with shared confidence as Australia’s borders reopen.”

Stephen Timms, CEO, Lotte Duty Free Oceania, added: “We thank the team at BAC for their partnership. The true value of partnership is learnt in times of difficulty, and we are very fortunate to have forged a close relationship with BAC through the challenges of Covid-19.

“We look forward to a bright future together, with our shared values of fairness and always putting the traveller at the front of everything we do.”

Lotte Duty Free has remained open and has continued to service flights over the past 18 months.

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