TOP 5 ASIA OPERATORS: SUNRISE DUTY FREE Sunrise and CDFG join forces ahead of Beijing tender
TRBusiness exclusively revealed that China airports’ duty free concessionaire Sunrise Duty Free sold a 51% share in the company to the China Duty Free Group (CDFG) last March, ahead of a very important tender in Beijing. David Hayes and Doug Newhouse report.
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nconfirmed rumours first surfaced in late March that China Duty Free Group
had purchased a majority holding in Sunrise Duty Free and also that CDFG President Charles Chen was linked with a position on the main board – which TRBusiness was able to exclusively confirm on 24 March. For the uninitiated, Sunrise Duty
Free operates the duty free airport concessions and specialist shops at Beijing Capital, Shanghai Pudong and Shanghai Hongqiao airports. TRBusiness further understands
that it was the Boyu Capital company that sold its shareholding to CDFG’s parent company China International Travel Service Corporation (CITS). Boyu is a China-focused private
RMB10bn ($1.6bn) in 2015. However, it also faces several big
Also inside
challenges, including retail tenders at both Beijing and Shanghai Hongqiao and the prospect of a brand new airport being built in Beijing, with a first-phase opening set for 2019. This latest new marriage between
LAGARDÈRE IN ROME | ACI CONFERENCES’ REVIEW | LOTTE DUTY FREE | DFS GROUP SHILLA | SUNRISE | EVER RICH | CHANGI AIRPORT | SINGAPORE CRUISE CENTRE | CHINA DUTY FREE | INCHEON AIRPORT | HDC SHILLA | HANWHA GALLERIA | SM DUTY FREE WILLIAM GRANT & SONS | PERNOD RICARD | BROWN-FORMAN | BEAM SUNTORY | BACARDI BEAUTY IN ASIA REPORT | COTY’S PHILIPPE MARGUERITTE | PEOPLE NEWS | NOW & THEN
magazine [produced exclusively for the Guangzhou event], it is in Pudong where the company has constructed new outlets for 14 branded luxury and fashion brand boutiques. Sunrise’s latest refurbishment
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Sunrise and the CDFG also effectively removes one competitor from the duty free concession bid at Beijing Capital Airport when the winner of that business is finally announced [this article was written in early April-Ed].
equity company that was co-founded several years ago. This ‘merger’ will clearly create
a huge duty free force with coverage across all three Beijing and Shanghai airports – plus CDFG’s comprehensive 230-strong network of border stores, airport outlets, its huge Sanya downtown store and its small overseas duty free business located in Cambodia. For its part, Sunrise Duty Free
is understood to have recorded duty free sales worth around
MAY 2017
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Strong pax drive sales It is, of course, very encouraging for both CDFG and Sunrise that strong passenger numbers continue to drive travel retail sales in the three major airports where Sunrise Duty Free operates both duty free shops and boutiques. High passenger numbers are
clearly having a positive effect at Shanghai Pudong where duty free sales appear to be growing fastest. Sunrise recently completed a major
store ambience, the new mixed category outlet includes interactive terminals with software developed by Sunrise, which allows shoppers to view product ranges available in-store, as well as identify their exact in-terminal location. New brands that were added
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renovation of its central perfume and cosmetics and liquor and tobacco sales areas in Pudong’s Terminal 1. As TRBusiness Asia correspondent
David Hayes reported in the official TFWA China’s Century delegate
to the T1 fragrances and cosmetics collection included several South Korean products that have become increasingly popular with Chinese travellers over the past two years. The History of Whoo and Innisfree
This new merger will clearly create a huge duty free force with coverage across all three Beijing and Shanghai airports.
TRBusiness TRBUSINESS 61
and expansion scheme involved combining its former separate individual category shops, while adding a further 366sq m of floor space to create its new eye-catching mixed category store. Designed to create department
Above: Sunrise’s 10-year license at Beijing Airport expired back in 2015 and it has worked on a contract extension basis ever since.
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