SINGAPORE. King Power International (Hong Kong) and DFS Venture Singapore (DFS Group) have been awarded the concessions for chocolate, candy and delicatessen sales at Singapore Changi Airport’s new Terminal Three, due to open on 9 January 2008.
King Power’s concession is for a 150sq m store and runs for three years with two-year renewal options. DFS has a larger store of 219sq m for the same term.
The results are as expected. Based on the total minimum monthly guarantees over the three-year term, King Power International (Hong Kong) offered the highest bids for both concessions, A and B, in Departure Lounges North and South. DFS was its closest rival in each case. However, the Civil Aviation Authority of Singapore (CAAS) had indicated that it wanted different concessionaires across the two operations.
King Power will run concession A and DFS concession B. King Power, the incumbent confectionery retailer at T2, offered either (a) 30% of the total monthly gross sales or (b) a Minimum Monthly Guarantee (MMG) of S$196,875 (Year 1); S$216,563 (Year 2); S$238,219 (Year 3), whichever is higher. Other bidders were DFS Venture Singapore, Dufry Singapore, Focus Network Agencies and Swizzle.
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Sunil Tuli: “We will ensure the best possible offer” |
For its concession DFS offered either (a) 30% of the total monthly gross sales or (b) an MMG of S$300,800, whichever is higher. Other bidders were King Power, Dufry, Focus Network Agencies, Heinemann Kwang Sia (a partnership between Gebr Heinemann and local group Kwang Sia) and Swizzle.
For full bid details from our original story click here.
King Power Duty Free & Travel Retail Managing Director Sunil Tuli said: “I am very pleased that King Power Singapore has been awarded this concession in this very prestigious terminal.
“CAAS is looking for state-of-the-art retail in this terminal, and we think that our being awarded this concession is a recognition of our capabilities and the quality of retail and services we provide to the airport, to our customers and to our suppliers. Of course, we will ensure that we provide the best possible offer, and meet the high standards set by CAAS.”
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