Lotte Duty Free will support small and medium-sized businesses through its alliance with SBDC
Lotte Duty Free has signed a business agreement with the Small Business Distribution Center (SBDC) – under the Ministry of Small Medium Enterprises (SME) and Startups – to participate in an Offline Sales Support project to help smaller brands.
Lotte Duty Free will recruit businesses through the SBDC’s sales channel information platform, Fanfandaero. The travel retailer plans to select 50 brands through qualification screening and document evaluation and promote their entry into Lotte Duty Free Shop's online and offline channels. All domestic small and medium-sized brands that handle products that can be sold in domestic duty-free stores, including cosmetics, fashion, miscellaneous goods, clothing and souvenirs, are eligible to participate.
The plan is to utilize Lotte Duty Free's infrastructure, such as networks and channels, to actively promote marketing and promotion of stores' brands, support the development of sales channels, and link this to sales. Offline support will include short-term pop-up store operation and digital signage advertising. Online the project offers participation in Lotte Duty Free exhibitions, marketing support and promotion through domestic and international social media channels.
A Lotte Duty Free official said, “This project is a significant opportunity to create a place for coexistence with small and medium-sized businesses and to inform customers around the world of the excellence of domestic brands. Lotte Duty Free will continue to discover small and medium-sized brands and develop sales channels for them.” “
Lotte Duty Free noted its ongoing support and cooperation with small and medium-sized businesses, local communities and small business owners. Last year the company signed a Supplier ESG Support Project Agreement and contributed a total of KRW50 million (US$37,000) to support its partner companies with ESG education and consultation to help practice ESG management. As a result, seven of the ten companies that participated were selected as excellent ESG small and medium-sized enterprises and received benefits such as preferential interest rates and preferential treatment for overseas expansion support projects.
