ECONOMYNEXT – A third international duty free operator is eyeing Sri Lanka’s Port City Colombo, a statement said after cabinet approved two operators to set up shop in the special economic zone.
China Duty Free and One World Duty Free, were given the status of businesses of secondary strategic importance, by the Cabinet of Ministers.
“Our partners are now empowered to operate within the Colombo Port City Special Economic Zone, allowing for the eagerly anticipated opening of the Downtown Duty-Free Mall to go ahead before the close of Q3 2024,” Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd said in the statement.
A third international luxury duty-free brand is exploring a collaboration at the duty-free mall concept, CHEC Port City Colombo said.
A third operator will provide “travellers arriving in Sri Lanka significantly more choice,” the statement said.
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China Duty Free, was named the world’s number one travel retailer, having recorded a revenue of USD 9.3 billion in 2023, in a ranking by Moodie Davit Report, CHEC Port City said.
The Port City stores use a ‘downtown duty-free mall concept, which are also found in Singapore, Australia and China, CHEC Port City said. (Colombo/July12/2024)