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Lotte Duty Free said Monday it would open a new branch in Ginza, Tokyo next year, a popular destination for tourists, particularly Chinese, to bolster its global presence.
The company expects the duty-free shop to rack up around 200 billion won ($180 million) in annual sales by 2017, upon its opening next year, by attracting foreigners visiting Tokyo’s representative downtown district.
Lotte is also looking to launch two more duty-free stores in 2017, one in Tokyo and another in Osaka, and more in the years to come, in a bid to drive up its sales in Japan to more than 1 trillion won.
The firm plans to hold a number of events and concerts featuring Korean celebrities to promote Korean culture and to encourage more tourists to Korea.
By Sohn Ji-young (jys@heraldcorp.com)
