Landlords and Retailers


Korean market update: February duty-free sales fall -3.8% despite Lunar New Year phasing

“The market is steadily stagnating,” notes a senior Korean duty-free executive. “For many brands today the tourist business in department stores is larger than in downtown duty free and I see this trend only accelerating as tourists want to enjoy a local experience not a manufactured tourist one,” adds LVMH North Asia Group President Michael Schriver.

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