HONG KONG. King Power Group is “actively” considering a number of growth opportunities around the Asia Pacific region, the group’s management has revealed to The Moodie Report.
The retailer has kept a relatively low profile in recent times as it pursued a policy of careful diversification. But it is now entering a new phase, underlined by its recent success in winning key fashion and confectionery contracts at Singapore Changi Airport. Additionally the company is proceeding with major refurbishments of its stores in Macau Airport and at the important Lo Wu land border crossing between Hong Kong and mainland China.
Director Ayub Khan (pictured), a dominant presence in the company for many years, told The Moodie Report: “We’re implementing a complete renovation at Lo Wu and changing the whole design to entice passengers to come in and buy.
“We’re bringing in some new categories and some new brands. For example, we had a very limited range of fragrances and cosmetics in the past. We’re expanding that and we’re bringing in not just the big brands but a lot of upcoming designer brands too. We’re also expanding the fashion category and packaged foods.”
King Power now has retail businesses in Hong Kong-Shenzhen border at Lo Wu and the related Kowloon Canton Railway Corporation business, Macau airport, Air Macau, the Macau ferry terminal, Shanghai Pudong Airport, Shanghai Downtown Duty Free, Osaka Kansai Airport, Singapore Changi Airport (newly-opened) and some smaller contracts at Hong Kong International Airport.
At Macau Airport where King Power enjoys a long-term 20-year concession (with 15 still to run), the retailer is in discussions with the airport authority to give the shops a complete new look. Managing director Antares Cheng said: “We’re going to renovate and bring in new themes, new concepts and new products.
Talking about future direction, he noted: “The group decided it should diversify into a number of areas but we are still on the expansion trail in the duty free sector. The duty free business as a whole is definitely expanding.”
Added Khan: “Remember that we are the only operator in the world who really understands and has experience of managing the fastest-growing travelling consumer business in the world – the mainland Chinese.
“A lot of other companies are trying to get into this business without knowing much about it. So obviously, this gives us a big advantage over everyone else.”
For a more detailed report on King Power, look out for the May print edition of The Moodie Report, out next week.
MORE STORIES ON KING POWER
Hong Kong’s King Power triumphs in key Changi fashion bid – 20/02/04
Hong Kong’s King Power triumphs in key Changi fashion bid – 20/02/04
King Power launches spectacular Macau promotional drive – 11/12/03
