Lotte TOPS Offers Up to 40% Discount on Famous Luxury Brands at 9 Stores Nationwide

'롯데 럭셔리 드림' Event Until the 4th of Next Month, the Last of This Year

[Asia Economy Reporter Jo In-kyung] Lotte Department Store announced on the 22nd that from the 24th, it will hold the year's final large-scale luxury discount event, "LOTTE LUXURY DREAM," at nine "Lotte TOPS" stores.

Lotte TOPS is an overseas fashion specialty select shop operated by Lotte Department Store that directly sources famous international brand products and offers them at reasonable prices, gaining great popularity especially among customers in their 20s and 30s. In particular, the first and second LOTTE LUXURY DREAM events held in March and June received tremendous responses, with many inquiries about additional events even after the promotions ended. Due to "revenge consumption" caused by the prolonged COVID-19 pandemic and the "Flex" culture of the MZ generation, Lotte Department Store's overseas luxury sales from January to August this year grew by 43% compared to the same period last year.

Accordingly, Lotte Department Store will hold the third LOTTE LUXURY DREAM event from the 24th until next month 4th, offering up to 40% discounts on products from over 40 famous luxury brands. The event will take place at nine stores in total: five stores including Lotte Department Store Gangnam Branch (until October 3rd), Cheongnyangni Branch, Gimpo Airport Branch (until October 3rd), Jungdong Branch, and Pohang Branch, as well as Lotte Outlet Gwanggyo Branch, Gwangju World Cup Branch, Lotte Mall Gunsan Branch, and Jinju Branch.

In particular, the department store strengthened clothing and footwear categories, which sold out early in previous events, and increased the overall volume of new products by more than 30%, preparing merchandise worth a total of 7 billion KRW. Compared to the first event, this is 2 billion KRW more, and 1 billion KRW more than the second event. The department store explained that they will showcase not only steady-selling products by brand such as handbags, wallets, and clutches but also various clothing and sneaker items suitable for the fall/winter (FW) season.

Various benefits will also be provided, including additional discounts on popular products and Lotte gift certificates of up to 5% based on purchase amounts.

Son Eun-kyung, Head of MD Development Division at Lotte Department Store, said, "Encouraged by the enthusiastic response from customers during the previous events, we have prepared this year's final luxury spectacular discount event," adding, "We will devote great effort to securing inventory so that we can offer a variety of products at reasonable prices in line with the increasing luxury consumption."