Lotte to launch unprecedented cosmetics sale
South Korean retail giant Lotte Department Store is running a cosmetics-only discount sale from Thursday through to Sunday with the move being a first for a Korean department store, according to local press reports.
The company, which expects to generate sales from cosmetics of more than KRW1trn for the first time ever this year, will offer discounts on 30 brands despite cosmetics counters usually being kept out of markdown events.
Fourteen of the brands will see a 10% price cut in all Lotte branches with participating brands including Elizabeth Arden, Anna Sui and Banila.
Meanwhile, seven of the retailer’s key branches, including those in the Sogong-dong, Jamsil-dong, and Yeongdeungpobon-dong areas of Seoul, will offer 10% discounts on 16 premium brands for high-spending customers.
Shoppers will be able to get 10% off brands such as Estée Lauder and SK-II if they spend over KRW300,000 ($260) per brand and pay with a Lotte Card.
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