Lotte Duty Free Opens Online Luxury Store 'Sogong 1beonji'

[Asia Economy Reporter Jo In-kyung] Lotte Duty Free opened the world's first online duty-free luxury store 'Sogong 1st Ave.' on the 2nd to proactively respond to the phased recovery of daily life (With Corona) era.

Sogong 1st Ave. was named after Sogong-dong in Seoul, where Lotte Duty Free first started. Over 30 luxury brands including fashion, jewelry, and watches are housed in a dedicated section within Lotte Internet Duty Free, selling about 5,000 products. In the future, dedicated sections for wine and whiskey will also be created to offer luxury liquor products for online reservation sales.

Lotte Duty Free directly sources all products sold at Sogong 1st Ave., offering them at reasonable prices and providing differentiated shopping services such as 100% after-sales service guarantee.

Lotte Duty Free's capability to attract luxury brands dates back to its opening year in 1980. At that time, Lotte Duty Free attracted numerous global luxury brands and quickly rose to become one of the world's leading luxury boutique duty-free shops from its first year of operation. Between 1984 and 1986, it successively introduced Louis Vuitton, Herm?s, and Chanel, becoming the first in the global duty-free industry to secure all three of the 'Big 3' luxury brands.

The consumer trend of the MZ generation (born between the 1980s and 2000s) shifting luxury purchases to online luxury shops was also a factor in promoting the opening of the online luxury store. The proportion of online sales in Lotte Duty Free's total sales increased from 25% in 2016 to 45% in 2020. With the addition of Sogong 1st Ave., the share of online sales is expected to grow further.

Lee Gap, CEO of Lotte Duty Free, said, "As the domestic online luxury purchase market expands, we opened Sogong 1st Ave. by leveraging Lotte Duty Free's capability to attract luxury brands. We will attract more brands so that Lotte Duty Free customers can conveniently shop for luxury goods anytime and anywhere."

Meanwhile, Lotte Duty Free fully renewed its online duty-free store twice in May and July. A live commerce page was newly established on Lotte Duty Free's online platform, broadcasting duty-free product sales once a month. It also offers a virtual experience space of the Sulwhasoo flagship store using VR (virtual reality) and a virtual fitting service for sunglasses using AR (augmented reality).

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