Inside Retail Asia latest duty free news and business trends within the travel retail industry.

Travel Retail News - Inside Retail Asia

Over 320,000 jobs in Asia-Pacific travel-retail industry under threat

Governments across Asia Pacific are being urged to protect more than 320,000 duty-free and travel-retail industry jobs at risk during the coronavirus pandemic.

Dean & Deluca US files for bankruptcy

Thailand’s Pace Corporation has finally filed for bankruptcy of its Dean & Deluca US business after all of its North American stores were shuttered last year.

Gordon Ramsay shuts three Hong Kong city restaurants

British celebrity chef and restaurateur Gordon Ramsey has quit Hong Kong, following the footsteps of compatriot Jamie Oliver last month.

Coronavirus to wipe US$8.3bn off Asia-Pacific duty-free sales

The coronavirus outbreak has substantially altered forecasts for Asia-Pacific duty-free sales this year, according to research firm GlobalData.

Macau chain Koi Kei Bakery shuts stores as tourists disappear

Macau souvenir bakery Koi Kei Bakery will be closing its Hong Kong branches in Tsim Tsa Tsui, Causeway Bay and Mong Kok this Saturday.

Changi Airport rents halved in wake of coronavirus outbreak

Retailers at Changi Airport will be granted half-cost rents for six months, backdated to February 1 due to the impact on passenger movements resulting from the coronavirus epidemic.

Ralph Lauren fears coronavirus will cut sales by $70 million

Luxury group Ralph Lauren Corp fears the coronavirus will reduce its March-quarter sales by between US$55 million and $70 million, due to falling store footfalls in Mainland China, South Korea and Japan.

The ‘Flex’ consumption trend: spend and boast

One in two South Koreans in their 20s and 30s positively perceice the “flex” consumption trend, in which people boast while splurging on expensive products.

Lotte Duty Free to build Sydney CBD flagship

Lotte Duty Free is to open a flagship store in Sydney’s CBD early next year, planning to tap into the 4 million visitors to the city each year.

Hennessy teams with Chinese artist Zhang Huan

Hennessy has collaborated with contemporary Chinese artist Zhang Huan in a Chinese New Year promotion running at Singapore’s Changi Airport until February 9.

Macau shutters casinos as coronavirus crisis widens

Macau’s government has closed the territory’s casinos for at least two weeks over fears coronavirus might be spread through venues.

India’s duty-free purchase limits to be slashed

Proposed changes to India’s duty-free purchase limits may dent the country’s duty free market growth prospects, says GlobalData.