SINGAPORE. Lagardère Services Asia Pacific, bidding as Saresco Travellers, has won the latest speciality retail concept tender at Singapore Changi Airport Terminal 1. It will operate a Discover Singapore theme store when the two-year contract begins in January.
It beat competition for the speciality/brand-name concession from Mitch & Marc Lifestyle, the other bidder for this contract.
Saresco Travellers offered (i) For total monthly gross sales up to S$500,000, 20% of the total monthly gross sales OR a minimum monthly guaranteed payment of S$28,000, whichever is higher; (ii) For total monthly gross sales above S$500,000, 20% of the total monthly gross sales up to S$500,000, PLUS 25% of incremental monthly gross sales above $500,000 OR a minimum monthly guaranteed payment of S$33,000, whichever is higher.
In September the retailer was awarded the key souvenirs contract at Changi T2, boosting its already strong presence at the location.
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