CHINA. Zhuhai Duty Free Enterprise Group Co, one of China’s longest-established and most powerful travel retailers, is to participate in the pioneering China International Consumer Products Expo to be held in Hainan province on 7-10 May.
The event is being organised by Hainan International Economic Development Bureau (Hainan IEDB).
All of China’s leading travel retailers are attending the event with large delegations. Over 200 global brands have now confirmed their participation at the Expo. These include a number of prominent brand owners in the travel retail channel such as Bacardi, Rémy Cointreau, L’Oréal, Edrington Group, Pernod Ricard and Shiseido.
The organisers estimate that between 3,000 and 5,000 professional buyers and up to 50,000 high-end consumers will visit the Expo each day.
Zhuhai Duty Free’s flagship store, currently the subject of a comprehensive renovation, is located at Gongbei, the entry point between Zhuhai and Macau, with pre-COVID-19 annual turnover of around US$300 million from a passenger base of over 130 million a year. The company inaugurated a departures shop in the Zhuhai to Hong Kong waiting hall of the Hong Kong-Zhuhai-Macao Bridge in October 2018. A further phase of that project is planned once the COVID-19 pandemic is over.
Zhuhai Duty Free also runs duty free businesses in Hengqin and Jiuzhou ports; Tianjin Binhai International Airport (arrivals shop, 51% controlled); and several other locations with more in the pipeline.
[Click on the YouTube icon to view a recent film about Hainan’s Free Trade Port development made by state-media CGTN]
As reported, Zhuhai Duty Free Enterprise Group Co was acquired by sister company Gree Real Estate in late 2020 in a CNY12.2 billion (US$1.8 billion) deal. Gree Real Estate’s majority shareholder is the State-owned Assets Supervision and Administration Commission (SASAC) of the Zhuhai Municipal People’s Government. Zhuhai Duty Free Enterprise Group Co is that body’s property developing arm (77% controlled).
Note: To find out more about the China International Consumer Products Expo, please contact Ruslan Tulenov, Global Media Officer & Supervisor, Hainan Provincial Bureau of International Economic Development.
Email: lusilan@investhainan.cn
WeChat: Ruslan24
Global Investment Service Hotline: +86 4008413413
Website: www.investhainan.cn
