SOUTH KOREA. Lotte Duty Free has introduced its latest programme to support small and medium-sized enterprise (SME) brand partners in building their presence in the Japanese market. The project was announced during a briefing at Lotte Duty Free headquarters in Seoul.
The travel retailer has partnered with the Ministry of SMEs and Startups and the Korea Foundation for Cooperation of Large & Small Business, Rural Affairs for the third edition of the programme. These organisations have been supporting this initiative since 2014.
Lotte Duty Free plans to invest KRW470 million (US$354,000) in cooperation with its partner foundation.
The briefing session was attended by 25 SME brand partners including skincare brands Cell Fusion C, Lavien, Curly Shyll, Luvum and Siita, as well as a golf apparel brand Volvik and eyewear brand Rieti.
The retailer will host marketing campaigns from August to December to boost brand partners’ sales and promote their products in the Japanese market. Lotte Duty Free will open a pop-up store to showcase these brands in its Ginza, Tokyo downtown duty free outlet and through trade events.
Japanese ecommerce platforms Qoo10 and Rakuten will also participate in these promotional campaigns and host social media marketing events with bloggers and influencers.
Lotte Duty Free EC division Head Kim Won-shik said: “Lotte Duty Free has been working hard to develop new markets by creating K-beauty and K-fashion halls to expand the global base of domestic brands when entering overseas markets.
“We plan to use the online and offline channels and capabilities of Lotte Duty Free along with the Korea Foundation for Cooperation of Large & Small Business, Rural Affairs.”
Underlining its commitment to supporting SMEs across the country, the retailer signed a business agreement with the Commission on Shared Growth for Large and Small Companies that seeks to support small and medium-sized partner companies.
As part of this agreement, Lotte Duty Free contributed KRW50 million (US$37,000) to a cooperation fund.
In support of the booming K-fashion sector, the retailer opened a dedicated Seoul Fashion Week pavilion on the eighth floor of its Tokyo Ginza store in partnership with the Seoul Metropolitan Government. The retail space offers a showcase for brands such as Ulkin, BLR Bluer and Ajobyajo.
In July, Lotte Duty Free opened a K-fashion boutique on the ninth floor of its flagship store in Myeong-dong, Seoul. And on 11 August, it opened a second Seoul Fashion Week pavilion at its World Tower branch to promote local brands to foreign visitors. ✈
