Lotte, Shilla, and Shinsegae Simultaneously Launch 'Half-Price Discount' on Luxury Goods Inventory

On the 21st, citizens are lining up to purchase duty-free stock products at the Shilla Duty Free Seoul branch in Jangchung-dong, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Seungjin Lee] Consumer interest in duty-free stock luxury goods, which have been sold for two months through online and offline channels, remains strong.

On the 21st, Shilla Duty Free began selling duty-free stock products at its Seoul branch in Jangchung-dong, Seoul. Following the Korea Customs Service's approval to sell stock duty-free items in some common areas within duty-free stores, Shilla Duty Free resumed sales at offline stores in addition to online sales.

Although entry to the event venue started at 10 a.m., dozens of customers lined up an hour before. To comply with COVID-19 prevention guidelines, Shilla Duty Free limits entry to about 400 to 500 people per day on a first-come, first-served basis.

Each entry allows up to 20 people, and shopping time is limited to 20 minutes. The event venue operates from 10 a.m. to 5:30 p.m., and entry tickets are distributed at the main entrance on the first floor of the Seoul branch. Sales will continue until the 26th.

The brands on sale include luxury fashion brands such as Bottega Veneta, Loewe, Givenchy, and Bally; sunglasses brands like Gucci, Saint Laurent, Balenciaga, and Dior; and watch brands including Daniel Wellington, Seiko, Rosemont, and Ferragamo. There are a total of 600 items from 26 brands.

Representative products include the Givenchy Pandora handbag, Bally men's sneakers, and Seiko Premier line, with prices discounted up to 50% compared to regular duty-free prices.

Earlier, since the end of June, Shilla Duty Free sold 1,080 stock items from 31 brands such as Givenchy, Fendi, Prada, Bally, Valentino, Balenciaga, Breitling, and Frederique Constant through its own travel product brokerage platform, 'Shilla Trip,' in four rounds.

Shinsegae Duty Free launched a specialized online mall application called 'SSG Special' for selling duty-free stock products.

Previously, Shinsegae Duty Free was the first in the duty-free industry to start stock sales through affiliated online malls such as SI Village and SSG.com. During the first stock duty-free sale, over 90% of items sold out in just one day.

Accordingly, Shinsegae Duty Free created its own online mall and is showcasing a large number of high-end luxury watch brands. Included are brands favored by watch enthusiasts such as Blancpain, which boasts a long history; Glash?tte Original, known as the pride of German watches; and Breitling, famous for pilot watches.

Additionally, it sells watches and jewelry preferred by domestic customers, such as Hamilton, Mido, Frederique Constant, Swarovski, and Thomas Sabo, as well as products from 31 fashion brands including Givenchy, Fendi, Loewe, Paul Smith, Aigner, and Cherbo.

Each brand and product will be updated weekly, with prices discounted up to 50% compared to regular duty-free prices. There are also promotions in partnership with credit cards. Until the 9th of next month, customers who purchase over 300,000 KRW using KB Kookmin Card or Hyundai Card will receive up to an additional 10% discount through a billing discount promotion.

Lotte Duty Free is entering the third phase of selling duty-free stock luxury goods through Lotte On's 'Luxury Week.' From the 22nd, Lotte On will sequentially offer discounts on Lotte Duty Free stock luxury goods and parallel-imported luxury goods during Luxury Week for one week.

Starting at 10 a.m. on the 22nd, the third phase of the 'Mind Quarantine Luxury Sale' will begin in collaboration with Lotte Duty Free. About 800 products from 28 brands will be sold at discounted prices, with an immediate 5% discount offered when purchasing with KB Kookmin Card.

Since the 17th, Lotte Duty Free has also been conducting offline sales for VIP customers at the Myeongdong main store Star Lounge. Considering the COVID-19 situation, this event is by reservation only, allowing a maximum of 10 teams per date and time slot to enter and make purchases.

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