Lotte Duty Free Shop opened a store in Guam International Airport on Wednesday after acquiring the exclusive license there, a first for a Korean firm.
Last year, Lotte Duty Free Shop beat top-ranked DFS to the right to operate duty-free stores in the airport until 2022. After a year of renovations, the duty free shop there features around 250 luxury brands in a 2,250 sq.m space.
Lotte Duty Free Shop will open its first outlet in a Japanese airport in Osaka in September. The company operates seven duty free shops in Korea, and the new additions will bring the number of overseas outlets to six.
Lee Hong-kyun, the head of the company, said the Guam store will serve as a bridgehead to new outlets in the U.S. and other countries.