100 Billion KRW Worth of Duty-Free Stock Released on Lotte ON, 70% Sold Out in Half a Day

[Asia Economy Reporter Seungjin Lee] On the 23rd, Lotte ON began selling luxury stock duty-free items, and within half a day, 70% of the prepared stock for the day was sold out.

Starting from 10 a.m. that day, Lotte ON showcased 77 products from 9 luxury brands of Lotte Duty Free's stock. Due to the news that these could be purchased at up to 60% cheaper than market prices, the site experienced 2 to 3 times higher traffic than usual even before the sales began, causing the server to crash temporarily in the morning.

After the sale of Lotte ON's stock duty-free items started, the stock quickly depleted, with 60% of the prepared stock sold out within an hour. As of 2:30 p.m., 70% of the stock was sold, with shoes and women's crossbody bags gaining popularity.

Earlier, when the news of stock duty-free sales on Lotte ON was announced on the 19th, the number of new members on Lotte ON increased by about 20% on average per day over the three days from the 20th to the 22nd compared to usual.

Considering the recent strong interest in luxury stock sales, Lotte ON and Lotte Duty Free plan to prepare about 10 billion KRW worth of stock to be sold sequentially on Lotte ON. The sales schedule will be announced later.

Meanwhile, Shilla Duty Free will also start the first sale of stock duty-free items on its own online platform ‘Shilla Trip’ from 10 a.m. on the 25th. Products from about 20 brands including Givenchy, Fendi, and Prada will be sold, while Balenciaga, Valentino, and Bally will be included in a second sale later.

This content was produced with the assistance of AI translation services.