SOUTH KOREA. JDC Duty Free hopes that its new 400sq m store at Jeju International Airport, formally opened on 1 December, will benefit from a continued pick-up in traffic (see OAG chart below) and spending that began during the recent Chuseok national holidays.
As reported, JDC posted average daily sales of KRW2.4 billion (US$2.2 million) from 1 to 28 October at the airport, according to General Manager Kenny Kim, a +117% increase year-on-year.
Sales this year have benefitted from a sharp increase in the allowance for Korean offshore duty free shopping in April. Previously the duty free limit in Jeju’s designated stores was US$600 per person (and an annual limit of six purchases) including one bottle of liquor (below one litre in size) and 200 sticks of tobacco. The April change saw the liquor and tobacco purchase excluded from the duty free value limit.
The new store includes a perfumes zone featuring 26 brands, including Acqua di Parma, Byredo, Bvlgari, Chanel, Diptyque, Gucci, Hermès and Santa Maria Novella.
A liquor zone offers eight brands, including perennial Korean best-seller Ballantine’s while the tobacco area majors on both Korean and international brands. Fashion names include Tory Burch, Samsonite, and Vantilux.
