'Duty-Free Stock' Prada, Moncler Down 30-50%... Chloe and Tory Burch Also

Shilla Offers 40 Types Including Overseas Luxury and Contemporary
Lotte's Brands Undecided... 20 Billion Won Scale
Shinsegae Features Chloe and Givenchy on SSG.com
Tory Burch and Bally Also Awaiting

[Asia Economy Reporter Cha Min-young] As the top two domestic duty-free operators plan to release a large volume of duty-free inventory next week, attention is focused on the participating brands. With discounts of up to 50%, it is an opportunity to purchase desired products at affordable prices.

Shilla: Prada, Balenciaga, Moncler, etc.

According to the duty-free industry on the 19th, the success of the event depends on the participation of luxury brands and the discount rates. Shilla Duty Free will sell duty-free inventory next week through 'Shilla Trip,' the travel product brokerage platform of Shilla Internet Duty Free. The participating brands total about 40, and discussions with companies are ongoing. Imported luxury brands such as Prada, Balenciaga, and Moncler will be featured, along with masstige brands like Tumi, Tory Burch, and Michael Kors, as well as contemporary brands such as Maison Margiela, Ami, Marni, and Off-White. The product categories will mainly include fashion accessories such as bags and sunglasses. The selling prices are set at an average discount of 30-50% compared to department store regular prices, considering costs including import customs procedures, taxes, logistics fees, merchandising costs, and card fees. Products will be delivered within 7 days after customs clearance.

Members of Shilla Internet Duty Free can conveniently purchase products without separate membership registration. When using 'Shilla Pay,' Shilla Internet Duty Free’s own simple payment system, a portion of the payment amount can be immediately discounted. Additionally, part of the payment amount is accumulated as 'S Rewards,' which can be used like cash at Shilla Duty Free, allowing for future duty-free shopping. Products are delivered within 7 days after purchase.

Lotte: Brands Undecided... 20 Billion KRW Scale

Lotte Duty Free will also sell about 20 billion KRW worth of inventory through online and offline channels such as Lotte Department Store, premium outlets, and the integrated online mall Lotte On, coinciding with the Korean-style sale event 'Korea Together Sale' starting on the 26th. The Korea Together Sale is a large-scale consumption promotion event led by the government, running from the 26th to the 2nd of next month, involving the distribution industry.

Unlike Shinsegae Duty Free, which started online sales earlier this month, this is the first offline luxury sale event, drawing high attention from the industry and market. For department stores, about ten locations without luxury brands, such as Yeongdeungpo and Nowon branches, are expected to be selected. For outlets, the Icheon and Paju branches are likely candidates. Although brands are undecided, it is expected to include not only masstige brands but also some luxury brands. An industry insider expressed expectations, saying, "Duty-free inventory sales will be the catalyst and highlight of this Korea Together Sale."

Chloe and Givenchy on SSG.com... Tory Burch and Bally Also Awaiting

Shinsegae Duty Free, which started first, plans to hold the 'Wise Duty-Free Shopping' promotion through the group’s online mall SSG.com until the end of this month. The Fendi sale launched on the 3rd of this month has ended, and currently Chloe and Givenchy products are being sold at discounts of up to 40% and 47%, respectively. Tory Burch and Bally will be unveiled on the 22nd.

Meanwhile, Shinsegae Duty Free set a record by selling about 93% of the approximately 200 products available for pre-order at SI Village, Shinsegae International’s SI Village, on the opening day, the 3rd. SI Village, where online pre-orders were conducted, saw a rush of customers wanting to purchase luxury goods from early morning, causing the website to display error messages at times. Particularly, the nearly half-price, shockingly low prices caused some popular items to sell out immediately, sparking a frenzy. Consumer interest in inventory releases by the top two duty-free operators is higher than ever.