Inside Retail Asia latest duty free news and business trends within the travel retail industry.
Travel Retail News - Inside Retail Asia
Singapore’s Changi Airport will close its Terminal 2 from May onwards, consolidating its operations in response to a steep decline in passenger traffic caused by the coronavirus outbreak.
South Korean duty-free stores are electing to temporarily close for business as the coronavirus pandemic continues.
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.
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.
British celebrity chef and restaurateur Gordon Ramsey has quit Hong Kong, following the footsteps of compatriot Jamie Oliver last month.
The coronavirus outbreak has substantially altered forecasts for Asia-Pacific duty-free sales this year, according to research firm GlobalData.
Macau souvenir bakery Koi Kei Bakery will be closing its Hong Kong branches in Tsim Tsa Tsui, Causeway Bay and Mong Kok this Saturday.
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.
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.
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 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 has collaborated with contemporary Chinese artist Zhang Huan in a Chinese New Year promotion running at Singapore’s Changi Airport until February 9.