Lotte future-proofs business with ambitious events

By Charlotte Turner |

Jeffrey-Davis-Lotte-DF-vid-leadLotte believes it is really at the forefront of an exciting and critical new transition for the global duty free & travel retail industry, according to Jeffrey Davis, Managing Director International Beauty Brands; a man who has become instrumental to the execution of some of the industry’s most ambitious projects to date.

 

Following a challenging 2017, Lotte Duty Free has seen its fortunes change dramatically in 2018, according to Davis, who reveals that sales improvement has been so significant that the company has struggled – at times – to keep up with demand.

 

Davis says the company’s recovery and growth has been so significant that stock has been difficult to replenish.

 

“There are very few manufacturers that actually make the bottles, the packaging and the labels. So they are trying to keep up with capacity, but they just can’t. So that’s where the issues are coming from.”

 

Davis also talks about Lotte’s ambition to become the No 1 global duty free & travel retail operator and the company’s keener focus on its downtown and online businesses, following its exit from Incheon Airport contracts.

 

 

“We’ve actually exceeded our numbers…Our business is still positive without Incheon Airport. It’s just a lot more comfortable now. So now we have a lot more money to actually renovate our stores and really make our customers’ experience in our stores more exciting.”

 

Watch the video to hear more about Lotte’s acquisition and expansion strategy in duty free & travel retail; how the company is setting itself apart from other retailers with its immersive live-streaming events for KOLs and other VIPs and how it sees the future of duty free & travel retail.

International

OUT NOW: June/July issue + Top 10 Airports

The TRBusiness June/July 2024 edition, featuring the Top 10 Airports report, is now available...

The Americas

Avolta expands US presence with 15-year contracts at John Wayne Airport

Avolta is set to grow its presence at John Wayne Airport in Orange County, California, through a...

International

TR Consumer Forum 2024 photo gallery now live

The TR Consumer Forum 2024 was packed with memorable moments, from the very first networking...

image description

In the Magazine

TRBusiness Magazine is free to access. Read the latest issue now.

E-mail this link to a friend