SRI LANKA. China Duty Free Group (CDFG) and Singapore-based One World Duty Free (ODF) are set to open stores in Colombo Port City’s Downtown Duty-Free Mall in coming weeks after being granted Businesses of Strategic Importance (BSI) status by the Cabinet.
Both retailers confirmed the news to us today. CDFG is looking at a soft opening on 15 August followed by a formal inauguration down the line.
“We are pleased to inform that we have received this good news. It is anticipated that we will be able to commence operations by early September,” One World Duty Free CEO Keira Zhang told The Moodie Davitt Report.
According to a statement issued by CHEC Port City Colombo, CDF and ODF may in time be joined by a third international duty-free retailer.
While unnamed in the statement, we can confirm that party is Flemingo, which also runs duty free retail (alongside Avolta) at Bandaranaike International Airport, Colombo. Flemingo’s commercial terms and designs have been agreed but the company awaits several Colombo Port City approvals.
In a statement published in several local media titles, CHEC Port City Colombo Managing Director Xiong Hongfeng said: “We are pleased to announce that our duty-free partners, China Duty Free and One World Duty Free, have successfully obtained BSI status and received approval from the Cabinet.
“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.
“We look forward to this, and to many other important developments in due course, with many prospective global investors ready to invest in Sri Lanka through Port City Colombo.”
Quoting The Moodie Davitt Report Top Travel Retailers report, Xiong highlighted CDFG’s status as the world’s leading player in the sector.
The Downtown Duty-Free Mall will be complemented by a curation of duty-paid brands and dining experiences, including Nihonbashi by Dharshan, Spa Ceylon, Café Chill, the statement said.
“The forthcoming opening of the Downtown Duty-Free Mall is anticipated to draw increased tourist traffic, showcasing a unique shopping experience with its upscale travel retail offerings and competitive pricing strategy,” the company said.
These developments underscore the swift pace of progress at Port City Colombo, heralding a new era of economic growth and international appeal for Sri Lanka. Port City Colombo’s strategic location, combined with the introduction of premier travel retail establishments such as CDF and ODF, is thus set to redefine the shopping and tourism landscape in South Asia.
Look out for our on location report post the Q3 openings. ✈
