CHINA. Duty Free Americas, the ambitious US duty free retailer owned by the Falic brothers, is to open its first Asian operation.
The retailer has signed a contract to operate a total of 16,359sq ft of retail space at The Venetian Macao Resort-Hotel complex, which is scheduled to open around July of this year.
The 3,000-suite Venetian Macao Resort-Hotel aims to redefine the concept of a luxury resort hotel. The owners claim it will combine the elegance and beauty of Venice with the energy and excitement of Macao, “offering hospitality and facilities unequalled anywhere in Asia”.
Confirming the development to The Moodie Report, Duty Free Americas General Counsel David Taney described it as an “exciting” moment for the company.
Duty Free Americas is the second major travel retail player to strike a deal to operate at The Venetian Macao in recent weeks. Last month Nuance-Watson (HK) announced the launch of a pioneering new multi-category department store at the complex – the first time Nuance-Watson has expanded its travel retail portfolio beyond the airport environment. It will also open this summer.
Until now Duty Free Americas’ retail business has been focused in the Americas, principally the US, where it is the country’s leading airport duty free retailer. Its first foray into Asia will surprise many of its rivals but underlines the company’s determination to be become a more diversified international operation. The company is a possible dark horse bidder for Asia’s three big tenders of 2007 – the Singapore Changi liquor & tobacco and fragrances & cosmetics bids, and the Incheon International Airport duty free contract/s.
The Macao agreement is the second major deal the company has concluded this year. Late last month wholly owned subsidiary Falic Fashion Group struck a licensing agreement with Perry Ellis International to manufacture and distribute fragrances, toiletries and cosmetics under the Perry Ellis brand.
Falic Fashion is buying all Perry Ellis’s fragrance inventory and other related assets of the fragrance business for about US$63 million. The Falic family also acquired the Christian Lacroix fashion house from LVMH in 2005, and the Hard Candy and Urban Decay beauty brands in 2002.
BACKGROUND ON DUTY FREE AMERICAS
Simon, Jerome and Leon Falic acquired Duty Free Americas (then World Duty Free Americas) from BAA on 11 October 2001.
Today Duty Free Americas consists of several operating divisions, including three main retail arms – airports, northern border (Canada) and southern border (Mexico).
MORE ON DUTY FREE AMERICAS
Tensions high on eve of Singapore Changi liquor & tobacco bid – 07/02/07
Duty Free Americas strikes Perry Ellis beauty deal – 01/02/07
Chicago O’Hare launches RFP for key T5 concessions, including duty free – 02/01/07
