SINGAPORE. Incumbent DFS Group has retained its wine concession at Singapore Changi Airport terminal two after an open tender.
DFS beat off a challenge from a surprise bidder, confectionery specialist Swizzle.
The group’s local operation DFS Venture Singapore offered the following bid: Additional rental of EITHER (i) 9% of total monthly gross sales OR (ii) a minimum monthly guaranteed payment of S$35,000 plus 5% of incremental sales of classified growth wines exceeding S$45,000 per month and 25% of incremental sales of other wines exceeding S$185,000 per month. Whichever is the higher of (i) or (ii) will be payable.
MORE STORIES ON SINGAPORE CHANGI AIRPORT
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