Up to 90% Sale... Lotte Department Store Holds Mid-Year Clearance Overseas Luxury Brand Fair

[Asia Economy Reporter Cha Min-young] Lotte Department Store announced on the 12th that it will continue the momentum of the ‘Duty-Free Luxury Goods Festival’ by holding the ‘Overseas Luxury Goods Festival’ to settle accounts for the first half of 2020.

A total of about 100 brands are participating in this Overseas Luxury Goods Festival, offering products at discounts ranging from 15% to 90%. In addition to handbags, luxury clothing, premium padding, and luxury jewelry, which were rarely seen in previous duty-free luxury goods festivals, will also be available.

At the Jamsil branch, the British luxury jewelry brand ‘De Beers’ will be sold at discounts of 15% to 50%. Diamond rings will be sold at a 50% discount, and couple wedding bands at a 40% discount. Luxury clothing and accessory brand products such as ‘Etro’, ‘Vivienne Westwood’, ‘Moschino’, ‘Kenzo’, ‘Sonia Rykiel’, and ‘Max Mara’ will also be discounted by 30% to 90%.

Off-season products will also be offered at special prices. ‘Kenzo’s’ ‘long down padding’ will be sold for 500,000 won, and ‘Kenzo Kids’ down jumper for 239,600 won. In addition, premium padding brand ‘Parajumpers’ will sell men’s and women’s down padding, originally priced at 1,430,000 won, for 858,000 won.

This event will start at the Jamsil branch and proceed sequentially. The Jamsil and Busan main branches will hold the event from the 14th to the 19th and from the 24th to the 30th of this month, and the main branch will hold it for five days from the 12th to the 16th of next month. Additionally, customers who purchase products with a Lotte Card during the event period will receive Lotte gift certificates equivalent to 5% of the purchase amount, and a 6-month interest-free installment plan will be offered for purchases of 500,000 won or more.

Meanwhile, according to Lotte Department Store, sales of luxury product categories increased by more than 50% compared to the same period last year from June 26 to July 10, when the Donghaeng Sale began. Offline duty-free product events at department stores also sold 85% of the first round of sales volume.