Customer Foot Traffic Drops Due to COVID-19... Louis Vuitton Lotte Duty Free Jeju Store Suspends Operations

Louis Vuitton Focuses on 'Airport Duty-Free Shops'
Duty-Free Industry Expected to Expand Additional Store Withdrawals

[Asia Economy Reporter Jang Sehee] Louis Vuitton is reportedly planning to withdraw some of its downtown duty-free store locations in South Korea, and the Louis Vuitton store at Lotte Duty Free Jeju recently decided to cease operations. This is due to a decrease in customers caused by COVID-19.

According to the duty-free industry on the 13th, the Louis Vuitton store at Lotte Duty Free Jeju has stopped operating since the 1st of this month.

A Lotte Duty Free representative said, "Due to the COVID-19 situation, there are not many customers, so we have temporarily suspended operations," adding, "The final decision on withdrawal is still under discussion."

Currently, there are a total of seven Louis Vuitton stores in domestic downtown duty-free shops, including the one that has ceased operations this time.

Earlier, in June of last year, the UK-based duty-free distribution specialist publication Moody David Report reported that Louis Vuitton plans to gradually withdraw most of its downtown duty-free stores in South Korea.

Louis Vuitton had previously set a policy to focus more on airport duty-free shops rather than downtown duty-free shops.

In this regard, the duty-free industry views the recent suspension of Louis Vuitton store operations as the beginning of the withdrawal from downtown duty-free shops, and expects additional store closures to occur soon.

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