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“Shilla-ARI is a world-class organisation whose commitment to the people of Los Angeles parallels their commitment to excellence in business and service“ |
Rick Caruso |
US. Rick J. Caruso, CEO of powerful local real estate developer Caruso Affiliated, announced today that he will endorse Shilla-ARI, the joint venture between The Shilla Duty Free and Aer Rianta International (ARI) that is bidding for the Los Angeles International Airport (LAX) duty free contract.
Caruso Affiliated* is a privately held, multi-billion dollar US real estate portfolio, whose facilities attract tens of millions of visitors each year.
Rick Caruso also announced that Caruso Affiliated is finalising a global strategic alliance with Shilla-ARI to provide an economic boost to the city. He said it would deliver an “unparalleled experience in hospitality and customer service for people living in or traveling to L.A.”
As revealed by The Moodie Report, Korean travel retailer and Samsung subsidiary The Shilla Duty Free and state-owned Irish retailer ARI opted to join forces for the bid, which covers duty free retailing in nine terminals at LAX. The tender closed on 2 April.
The alliance brings together the world’s ninth and tenth biggest travel retailers by turnover (2010 figures), according to industry rankings compiled by The Moodie Report Research. The concession encompasses more than 37,000sq ft of commercial space serving a potential audience of nearly 62 million passengers annually.
“After having deep conversations with Shilla executives and a recent trip to Korea to meet with Shilla’s esteemed CEO, Lee Boo-Jin, I can say with confidence that Shilla-ARI is a world-class organisation whose commitment to the people of Los Angeles parallels their commitment to excellence in business and service,” said Caruso.
“In addition, I am highly impressed by their efforts to create jobs and support our community through philanthropy and their performance during the last several years, especially their knowledge of the Asian customer, which is why they are the right partner to cement our global reputation as a must-see destination for any traveller entering the United States.”
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The Shilla President and CEO Lee Boo-Jin with The Moodie Report Chairman Martin Moodie at The Trinity Forum in Seoul |
This endorsement follows Shilla-ARI’s recent philanthropic commitments to The East Los Angeles Community Union (TELACU) and the Fashion Group International, Inc. – Los Angeles (FGILA), a global non-profit.
Through TELACU, Shilla-ARI will provide comprehensive job training internship and financial resources for members of the regional community who are interested in pursuing careers in the airport travel retail industry. Their work with FGILA will consist of promoting L.A.’s unique culture by displaying the work of local designers in prime space throughout LAX.
Caruso Affiliated noted: “Top-tier customer service with highly- personalised experiences at concentrated touch points throughout the airport will be a cornerstone of Shilla-ARI’s approach to the LAX operation. Robust staffing is critical to its execution and is expected to generate significant job growth for the City of Los Angeles.”
The Shilla Duty Free Executive Vice President Kim Cheonghwan commented: “What Mr Caruso has established at The Grove [a Southern California landmark and one of the most successful retail, dining and entertainment centres in the US -Ed] and The Americana [Caruso Affiliated’s first mixed-use development, featuring a blend of shopping, dining and entertainment; approximately 475,000 square feet of retail/commercial space, 100 luxury condominiums and 238 apartments -Ed] is a clear indication that our high standards are aligned.
“We want global travellers to know that anyone who partners with Shilla will provide the same level of excellence synonymous with our brand – and we know that a partnership with Caruso Affiliated will give us that assurance. We are eager to explore how our organisations can work together to drive tourism and deliver the best-in-class service both of us are recognized for around the world.”
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(Left to right) Two of Caruso Affiliated’s leading developments, The Grove and The Americana at Brand | |
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The joint venture brings together two of the world’s most powerful travel retailers |
*ABOUT CARUSO AFFILIATED
Caruso Affiliated is a US real estate group known for developing high-quality neighbourhood and regional retail centres.
It customises each centre to fit the community it serves, aiming to provide residents with a high-quality environment where they can shop, dine, or spend time with friends and family.
The group notes: “Many regional and national tenants at our centres have garnered the highest-grossing sales for their chains, thereby earning us the loyalty of the most successful, most respected retailers in the country. The result of this loyalty is a minimum of 90% pre-leasing prior to the start of construction on any Caruso project.”
It owns property throughout the US, with the majority of focused on the Southern California metropolitan area.
