January 09, 2014 12:14
Hotel Shilla, run by the Samsung Group, has won a license to operate duty-free shops in Singapore's Changi International Airport, selling cosmetics and perfume. Shilla already has a license to sell watches and luxury goods there.
Changi Airport Group on Wednesday said Shilla's duty-free shop, run by the Korean hotel, can now operate around 20 outlets in terminals 1 to 3, covering an area of around 6,600 sq.m. The stores will open in October and Shilla has the license until 2020. When terminal 4 opens in 2017, Shilla will open additional cosmetics shops there.
The stores are expected to generate W600 billion in annual revenues by 2015, according to industry watchers (US$1=W1,066).
Shilla already operates duty-free outlets for luxury brands Bottega Veneta and Prada in Terminal 3 and won licenses last year to operate two more stores in the terminal.
Changi is one of the top hubs in Asia along with Incheon International Airport in Korea, Narita Airport in Japan and Chek Lap Kok in Hong Kong.
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