Korean travel retailer Lotte Duty Free has launched a new retail outlet at AB Won Pat International airport in Guam.

The new Lotte Duty Free outlet opening follows a 12-month, $17m refurbishment.

It boasts over 24000ft²of renovated retail space, main airport thoroughfare, food court, restrooms and other airport facilities.

Lotte also added a unique local concept to the retail experience with the Guam Cultural Center that features the island’s traditional culture, a life-sized model carabao, a latte stone and ‘made in Guam’ products.

Further, nine new boutiques have been added to the core category stores including Bally , Bulgari , Burberry , Chloe , Coach, Loewe , Salvatore Ferragamo , Tory Burch and Tumi.

Other new brand introductions to Guam Airport from Lotte Duty Free include SKII, La Mer , PRADA , LANEIGE , Sulwhasoo , Missha and Tony Moly in perfume and cosmetics.

In 2013, Lotte Duty Free was named the preferred bidder for the contract, but the contract offer was retracted after DFS Group protested against the tender. All subsequent protests were ultimately dismissed and the retailer took over the concession on schedule last July.

Lotte Duty Free CEO Hong-Kyun Lee said: "This is a very proud day for Lotte Duty Free, for everyone involved in helping us deliver on our vision and, most importantly, for the island of Guam. The retail offering we unveiled today stands alongside any airport in the world, as an exceptional shopping experience. It’s a fantastic impression of Guam, generating significantly increased revenues for the airport, and creating opportunities for the people and businesses of Guam. It showcases premium locally-made products alongside Lotte Duty Free’s luxury global brand lineup."