Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Under the Radar: The Shilla Duty Free on airport revenues in Singapore;Travel recovery and expansion plans; China consumers tipped to be most important revenue source for operators in Singapore and South Korea by 2027; A stronger Sing dollar and impact on duty-free shopping
What comes to mind when you put shopping and the airport together? How does duty free shopping sound?
Well, our guest for today is from The Shilla Duty Free Singapore, which operates over 20 Cosmetics and Perfume stores across four terminals in Singapore’s Changi International Airport.
The company is part of Shilla Duty Free, and an affiliate of Samsung. In South Korea, Shilla Duty Free operates five duty free outlets including in downtown Seoul, Jeju island, and Incheon, offering over 1,300 world famous brands.
With borders reopening last year and international travel returning in full swing, we want to find out if airport sales revenues are back to pre-pandemic levels, and what that means for Shilla Travel Retail in terms of their expansion plans.
Also – with a Euromonitor study tipping China to be the leading source market for duty-free destinations like South Korea, Singapore and Hong Kong by 2027, how concerned should duty-free retail operators be?
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian chatted with Sok Ling Chan, Head Of Commercial, The Shilla Duty Free Singapore to find out more.
