VIETNAM/SOUTH KOREA. Lotte Duty Free has signed a Memorandum of Understanding (MOU) with hospitality company Modetour for a strategic marketing agreement to promote the burgeoning Vietnamese tourism market,
Yesterday’s signing ceremony was attended by Lotte Duty Free Global Operations Division Head Lee Seung-jun and Modetour Southeast Asia Business Division Head Lee Woo-yeon at the Pullman Resort in Danang, Vietnam [Ho Chi Minh City is the venue for The Trinity Forum 2023, to be hosted by IPP Travel Retail on 25-26 November].
Under this agreement, both companies plan to increase engagement with their customers and develop the marketing of Vietnam package tour products that combine duty free shopping and tourism. The deal was made as Koreans continue to expand their list of preferred travel destinations in Vietnam, including Da Nang and Nha Trang, Phu Quoc and Da Lat.
In addition, Lotte Duty Free and Modetour plan to carry out marketing activities such as social media advertisements and campaigns. They will also establish close cooperation to support mutual development.
Lotte Duty Free continues to strengthen its presence in Vietnam since it entered the Vietnamese duty free market in 2017, starting with the Da Nang International Airport store. The Nha Trang Cam Ranh International Airport business opened in 2018 followed by Nội Bài International Airport in Hanoi in 2019.
In November 2022, the travel retailer unveiled its downtown duty free store in Da Nang, its fourth business in Vietnam.
In 2023, sales at Lotte Duty Free’s Vietnam business increased by +351% compared to the previous year, with South Korean tourists contributing approximately 60% to the sales growth.
Lotte Duty Free Global Operations Division Head Lee Seung-jun said: “In line with the increasing demand from domestic customers after the pandemic, we have joined hands with Modetour to strengthen customer benefits. We will continue to strive to provide differentiated services that only Lotte Duty Free customers can enjoy.”
Modetour Southeast Asia Business Division Head Lee Woo-yeon added: “Vietnam is the most popular travel destination for Korean travellers, and we expect to be able to provide better services through this business agreement with Lotte Duty Free.
“We will continue to work closely with Vietnam and Guam through close collaboration. We will expand our services at Lotte Duty Free stores in Singapore and Australia so that customers who use Modetour can enjoy more benefits.” ✈
