Korea’s Shilla Duty Free has secured rights to operate perfume and cosmetics stores at Changi Airport in Singapore.
It will operate the stores for six years until September 2020.
A company spokesperson said Shilla will operate around 20 perfume and cosmetics stores at the airport’s three terminals. It also plans to open stores at the fourth terminal when redevelopment is complete in 2017.
“This is a significant achievement because we’ll have a chance to promote Korea’s perfume and cosmetics products at one of Asia’s major airports,” said a company spokesperson.
Shilla is working to achieve a sales target of 4 trillion won ($3.75 billion) over the next six years to become the world’s third largest duty free operator.
“With the latest deal in Singapore, sales of overseas duty-free shops are expected to account for 20 per cent of the overall sales of our duty-free division,” adds the spokesperson.
