HONG KONG. Bids for the three core category tenders at Hong Kong International Airport closed at 11a.m local time today and are understood to have attracted intense interest – and some powerful alliances.
The three tenders (covering liquor & tobacco, perfumes & cosmetics and airside general merchandise), represent some of the world’s biggest airport retailing opportunities.
The incumbents, Nuance-Watson HK (perfumes & cosmetics and airside general merchandise) and Sky Connection (liquor & tobacco) face intense challenges from a strong and diverse field
The Moodie Report understands that several powerful (and surprise) alliances were formed, making the results even harder to predict. We’ll bring you details on those as soon as we can.
Parties believed to have bid either alone or in combination include World Duty Free Group, China Duty Free Group, DFS, Nuance-Watson (HK), Lotte Duty Free, King Power Group (HK) Sunrise Duty Free, The Shilla Duty Free, Sky Connection and LS Travel Retail.
Some of those parties (alone or in alliance) bid on all three tenders, some on two, and one is pursuing a single opportunity. More details to follow.
At stake is the following business (based on 2010 sales):
Liquor & Tobacco: HK$1,553 million (US$200 million)
Perfumes & Cosmetics: HK$1,320 million (US$170 million)
Airside General Merchandise: HK$843 million (US$108 million)
We’ll bring you more details as they become available.
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