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DFS to close Changi Airport alcohol stores after 40 years
Travel retail operator DFS has decided to close its liquor and tobacco concessions at Singapore’s Changi Airport after almost 40 years.
Travel retailer DFS will cease its operation at Singapore’s Changi Airport in June 2020
DFS has operated the concession at Changi since 1980 and will withdraw from the airport in June 2020.
In a statement released by the travel retail operator, Ed Brennan, DFS group chairman and chief executive officer, said: “Our decision not to bid was based on our unique understanding of the business environment as the current operator of this concession at Changi.
“Specifically, changing regulations concerning the sale of liquor and tobacco, against a global context of geopolitical uncertainty, meant that staying in Changi was not a financially viable option.”
Brennan continued: “We have exceeded all expectations for what travel retail can offer in an airport environment. We are proud of our achievements and deeply appreciative of the efforts of many talented people who have contributed to our success.
“We sincerely thank the Changi Airport Group (CAG) for their past support, and extend our best wishes as they take the liquor and tobacco concession operations forward in partnership with a new operator.”
Changi Airport announced it was opening the bidding process for its liquor and tobacco concessions earlier this year. The tenancy terms will cover 18 stores, spanning over 8,000sqm of retail space across the airport’s four terminals. The tender will operate for a period of six years from 9 June 2020 to 8 June 2026.
At the time that bidding opened for the retail space, CAG executive vice president for commercial, Lim Peck Hoon, said:“We are excited to hear from the market and look forward to new retail concepts to bring the liquor and tobacco concession to new heights. Changi is fully committed in growing with our concession partners through impactful innovation and effective collaboration.
“There will be a wealth of opportunities for the liquor and tobacco partner to showcase its offerings to Changi’s global audience, delivering revolutionary best-in-class retail experiences, to build and grow its business.”