Lotte Duty Free Maximizes Synergy of 'Duty-Free + Tourism' in Vietnam... Partners with Modetour

Domestic Travel Package Planning and Sales
Vietnam Branch, 60% of Revenue from Korean Tourists

Lotte Duty Free announced on the 26th that it has signed an MOU (Memorandum of Understanding) with Modetour to strengthen joint marketing efforts and revitalize the Vietnam tourism market.

This MOU was planned to create mutual synergy by expanding the touchpoints of both companies' customers and developing products that combine duty-free shopping and tourism, amid the diversification of Vietnamese travel destinations preferred by Koreans, including Da Nang, Nha Trang, Phu Quoc, and Dalat. The signing ceremony was held on the 25th at the Pullman Resort in Da Nang, Vietnam, attended by Lee Seung-jun, Head of Global Operations at Lotte Duty Free, Lee Woo-yeon, Head of Southeast Asia Business Division at Modetour, and other representatives from both companies.

On the 25th, Seungjun Lee, Head of Global Operations at Lotte Duty Free (left in the photo), and Wooyeon Lee, Head of Southeast Asia Business Division at Modetour, signed an MOU and are taking a commemorative photo.

Lotte Duty Free and Modetour plan to jointly plan, sell, and operate domestic travel package products to revitalize the Vietnam tourism market. Furthermore, they intend to build close cooperation by conducting marketing activities such as SNS advertising and campaigns.

Lotte Duty Free first entered the Vietnamese market in 2017 with the opening of the Da Nang Airport store, followed by the Nha Trang Airport store in 2018 and the Hanoi Airport store in 2019, establishing presence at major gateway airports. In 2022, they also opened a downtown Da Nang store, currently operating four stores in Vietnam. In 2023, sales at Lotte Duty Free’s Vietnam locations increased by 351% compared to the previous year, with Korean tourist sales accounting for about 60%, indicating a very high proportion of domestic customers.

Lee Seung-jun, Head of Global Operations at Lotte Duty Free, stated, “In response to the increasing domestic demand after the endemic, we have joined hands with Modetour to enhance customer benefits. We will continue to strive to provide differentiated services that only Lotte Duty Free customers can enjoy.”

Lee Woo-yeon, Head of Southeast Asia Business Division at Modetour, said, “Vietnam is the most visited destination by Korean travelers, and through this MOU with Lotte Duty Free, we expect to provide better services. We will continue to expand services so that customers using Modetour can enjoy more benefits at Lotte Duty Free stores in Vietnam, as well as in Guam, Singapore, Australia, and other locations through close collaboration.”

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