Hotel Shilla has partially opened its duty-free outlets at Hong Kong International Airport with plans for a grand opening in the next six months.

The Shilla Duty Free owner secured the business licence for the fragrance, cosmetics and fashion accessories zone at the airport in April. The licence is valid until September 2024, the company says.

Hotel Shilla has beaten its rivals to become the only player with fragrance and cosmetics duty-free stores at three major international airports in Asia, the others being Singapore’s Changi Airport and Incheon International Airport on its home turf.

Hotel Shilla has set an annual revenue target of KW1 trillion (US$889 million) from its overseas duty-free business. Last year it raked in about KW500 billion in overseas sales.