Lotte Duty Free is expanding into Oceania with the ambition to be the leading operator in Australia and New Zealand by 2023. The firm’s entry into the territory began with a grand opening ceremony at one of its new Australian stores at Brisbane Airport. The second biggest travel retailer in the world, Lotte Duty Free is targeting sales of US$200mn in the region during its first year. Australia has demonstrated significant growth of more than 10% in incoming Chinese tourists – representing some of the biggest spenders globally – in recent years. With this launch, Lotte Duty Free now operates in seven countries outside of Korea.