À̹ÌÁö È®´ë [Photo provided by Hotel Shilla Co.]
South Korea¡¯s Hotel Shilla Co., hotel and travel retail unit of Samsung Group, got two-year extension for its duty-free beauty outlets at the Singapore Changi Airport.
Under the renewal of contract with Singapore-based Changi Airport Group (CAG), Shilla Duty Free can continue business at cosmetics and perfume concession corners on a space of 7,400 square meters at the airport. The extension starting from 2020 ends in September 2022.
The decision to extend the partnership largely owed to the ¡°pioneering retail concepts¡± of the stores that have transformed the Changi Airport¡¯s travel retail scene and brought the airport shopping experience to a whole new level, according to the airport operator.
¡°We are very pleased to continue our partnership with ¡¦ and the Shilla Duty Free for another two years,¡± said CAG Executive Vice President of Commercial Lim Peck Hoon.
With the extension, Hotel Shilla aims to further bolster its duty-free business to make it a global leader. It now runs tax-free shops at all of three busiest air gateways in Asia - Incheon International Airport, Singapore Changi Airport and Hong Kong International Airport. Its revenue from overseas stores last year reached 700 billion won ($628 million), the largest among Korean duty-free operators, and is expected to top 1 trillion won this year.
By Lee Yoo-jin and Lee Ha-yeon
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]