On the 11th, Lotte Duty Free announced that the contract period for its liquor and tobacco business at Changi Airport in Singapore has been extended by three years, from 2026 to 2029.
Since 2020, Lotte Duty Free has been exclusively selling liquor and tobacco at terminals 1 to 4 of Changi International Airport. The sales area spans 18 stores, covering a total of 8,600 square meters.
Changi Airport is the largest hub airport in Asia, accommodating 67.7 million passengers last year.
Lotte Duty Free plans to strengthen its brand negotiation capabilities and expand its global liquor brand portfolio with this contract extension.
Lotte Duty Free currently operates 12 stores in five countries overseas. In the first quarter of this year, overseas sales increased by approximately 10% compared to the same period last year. Lotte Duty Free aims to raise the share of overseas sales to over 30% within the next five years.
Kim Dong-ha, CEO of Lotte Duty Free, noted, "We will continue to differentiate customer experiences through various customer experience events in collaboration with the Changi Airport Group," and emphasized, "We will do our best to ensure customer satisfaction as a global duty-free brand."