Hong Kong’s duty free stores are now under China tourism

Published on : Friday, April 7, 2017

Hong Kong’s duty freeChina National Travel Service Group has beaten the LVMH’s DFS and South Korea’s Lotte Group and won the right to function all alcohol and tobacco duty-free stores at Hong Kong International Airport.

This major move will hereafter allow the largest tourism conglomerate of China to handle eight duty free boutiques covering some 34,000 square feet for seven years until 2024 at the airport which is subsequent to the expiry of the operational contract with DFS.

China Duty Free (CDF) Group will control the joint venture with France’s travel retail operator, Lagardère Services which is now owned by the state tourism titan. To quote company, ‘There will be alcohol appreciation bars, virtual reality facilities and VIP lounges.’

HKIA is third in the latest Skytrax global rankings of the best terminals for shopping. It is also the eighth busiest airport in the world and a top transit hub in Asia. The airport handled a record 70.5 million commuters in 2016 and preserved its status as the most profitable aviation hub among peers.

The annual duty free store sales at Hong Kong airport are expected to hit as much as 6 billion yuan (US$869 million), as per the report of the Industrial Securities.

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