Shilla Duty Free Ranks No. 4 Among World’s Top Travel Retailers

South Korea’s major duty-free retailers remain strong players in the global travel retail market, with four Korean companies making the world’s top 20 by sales, according to a ranking published by UK-based travel retail publication The Moodie Davitt Report.

Shilla Duty Free ranked fourth worldwide with retail sales of €2.886 billion, or about KRW 4.73 trillion. It was the highest-ranked Korean company on the list, followed by Lotte Duty Free at No. 6, Shinsegae Duty Free at No. 9 and Hyundai Duty Free at No. 15.

Shilla has built a strong position in beauty and fragrance, especially at major Asian airports. At Singapore Changi Airport, where it has operated beauty stores since 2014, the company extended its cosmetics and perfume concession until March 2028. It also operates six stores covering about 3,300 square meters at Hong Kong International Airport, offering around 200 beauty brands.

The company is also adding more experience-based retail. It opened a standalone Aesop store at Changi in May and introduced a Dior pop-up in June. Shilla has also worked with brands such as LINE FRIENDS and Disney to create themed retail spaces at airports.

Lotte Duty Free ranked sixth with sales of €2.304 billion. The company has been closing less profitable overseas locations while strengthening its Korean airport business. It recently returned to Incheon International Airport’s DF1 concession, covering cosmetics, perfume, liquor and tobacco.

Shinsegae Duty Free placed ninth with sales of €1.981 billion. Unlike Shilla and Lotte, Shinsegae has focused mainly on the Korean market. It recently reduced its presence at Incheon Airport and is putting more attention on downtown stores, independent travelers and partnerships linked to K-pop and Korean content.

Hyundai Duty Free ranked 15th with sales of €1.048 billion. The company operates mainly in Korea and has expanded its airport portfolio at Incheon while improving profitability by closing its loss-making Dongdaemun store.

The ranking also shows the continuing strength of global travel retail groups. Avolta remained the world’s largest travel retailer for the third consecutive year with sales of €10.016 billion. China Duty Free Group ranked second with €6.528 billion, followed by Lagardère Travel Retail with €6.2 billion.

The strong showing of four Korean companies highlights South Korea’s importance in global duty-free retail. It also shows how Incheon International Airport and other major Asian airports remain important platforms for beauty, luxury and travel retail brands seeking international consumers.