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Lotte Duty Free World Tower to open Chanel store

Chanel store opening Lotte Duty Free World Tower South Korea Seoul news - Retail in Asia

Lotte Duty Free World Tower will have all of big 3 luxury brands of Louis Vuitton, Chanel, and Hermes. The Louis Vuitton and Hermes store already opened, but there was a slight delay in consultation with Chanel. With the opening of Chanel boutique store on June 1, Lotte Duty Free World Tower will be able to gain its former reputation.

The Lotte Duty Free World Tower store had all of the big three luxury brands, but was forced to close in mid-2016 after the retailer lost out in the controversial late 2015 downtown licence bid. Lotte Duty Free World Tower regained the five-year licence early this year in a bid for four new Seoul downtown duty free permits, but it had to re-negotiate with the brand. Hermes opened its stores on the opening day of the Lotte Duty Free World Tower on January 5 this year, followed by Louis Vuitton on February 28. However, there was a growing concern that the Lotte World Tower Duty Free Shop would miss one of big brands with the uncertainty of negotiation with Chanel.

SEE ALSO: Lotte World Tower becomes tourist hotspot in Korea

A brand official said, “We do not open luxury brand stores in line with the number of duty-free shops.” “As the number of channels increases, the brands have their nose in the air and there are many demands for duty free shops.” “Perhaps this is why the negotiations between Chanel and Lotte Duty Free World Tower have been delayed.”

Nevertheless, the Lotte Duty Free World Tower will have Chanel stores next month. Lotte Duty Free Shop exceptionally has Chanel cosmetics store and watch store as well as Chanel boutique store. Especially, Chanel Cosmetics is located in the middle of Lotte Duty Free Shop’s on the 12th floor of cosmetics zone, which seems to generate the highest sales, and the interior is also the most luxurious.

In September 2015, Chanel was completely withdrawn out of Incheon Airport. Chanel Korea requested their exclusive cosmetic store for 30 pyeong, but it was decided not to accept it because of equity issue of company. Chanel, which was known to have a negative view on the domestic duty-free business, entered the Galleria Duty Free Shop in August last year. In addition, the Chanel cosmetics store at Lotte Duty Free World Tower has been renewe

SEE ALSO: Incheon Airport negotiates with Chanel and Louis Vuitton

A duty free shop official said, “Chanel Korea directly supervises fashion, cosmetics and watches. As a result, the extent to which negotiations are discussed may vary depending on the benefits that the duty free shop can provide to Chanel for each item. There are also not many domestic duty free shops that can meet the needs of luxury brands, along with the ability to maintain the brand image.

Lotte Duty Free World Tower is preparing for renewal expansion. The number of brands in the World Tower store is expected to increase, and it will attract foreign tourists in coordination with Lotte Hotel and Lotte World Adventure.