Data analysis and market research consulting company GlobalData has announced that COVID-19 will devastate the global duty free market in 2020 to a tune of US$50 billion, with Asia Pacific to be hit hardest.
Lotte Duty Free has taken over the liquor and tobacco concessionaire at Changi Airport from incumbent DFS as of today; Lotte at Changi Airport to be the largest among Lotte’s Asia Pacific operations.
Changi Airport Group has awarded its core category Liquor & Tobacco concession tender to Lotte Duty Free, part of South Korea conglomerate Lotte Corporation; it will run 18 liquor and tobacco stores across the four terminals in Changi Airport from June 2020.