Philippines specialty store operator SSI Group has made its first foray into the travel retail sector.
SSI, through a subsidiary SKL International, has bought a 50 per cent stake in Landmark Management Services which marks its debut in the increasingly lucrative travel retailing category.
The stake was acquired from duty free distributor Prime and the Regent Asia Group.
“We are very happy to be part of the development of the travel retail industry. We believe that with SSI’s retailing experience and Landmark’s deep understanding of the unique shopping requirements of travelers, we can expand our market to cover tourists and business travelers,” SSI President Anthony Huang said in a statement.
Landmark operates duty free and travel retail fashion stores at the Philippines’ larger airports as well as at Fiesta Mall in downtown Manila, under a concession from Duty Free Philippines.
SSI Group ended last year with 723 specialty stores and 134,000 sqm of retail trading area and was planning to open a further 130 this year, outside this week’s acquisition. The company’s brand portfolio includes Marks and Spencer, Gucci, Burberry, Hermès, Prada, Salvatore Ferragamo, Lacoste, Michael Kors, Kate Spade, Gap, Bershka, Aeropostale, Samsonite, Nine West and Payless Shoe Source.