South Korean conglomerate Lotte has won the tender.
South Korean conglomerate Lotte has won the tender for a duty-free store at Melbourne airport. Lotte Duty Free will officially open on June 1, 2023.
Lotte is investing in developing its duty-free business amid an expected recovery in tourist flows worldwide. The company predicts growth as countries open globally after the pandemic.
The 38,500-square-foot store will be open through May 2023. The company plans to expand its existing duty-free store at Melbourne Airport to 62,500 square feet.
The company expects to increase annual sales to $243.6 million. As of early 2023, Lotte operated 13 international duty-free stores, including in Sydney and Da Nang, Vietnam.
1 FEBRUARY 2023, Australia
Prada opens Cafe in Harrods
WHP Global to acquire footwear retailer Hunter
Decathlon launches rental service in UK
Banana Republic presents new brand BR Home
Apple introduces Apple Pay Later service
Adidas seeks to ban Black Lives Matter logo with three stripes
Best Buy to close 30 stores in 2023 
Amazon to close 8 Amazon Go stores 
The Last of Us: In what mall was it filmed? 
Ben Sherman will open in London and Brighton 
Under Armour opens store in Battersea Power Station