Shilla Duty Free wins the bid against Lotte Duty Free for Gimpo International Airport’s five-year liquor and tobacco concession.
Gimpo is South Korea’s third busiest airport and the core duty categories will now be divided between South Korea’s two biggest duty free retailers – Shilla and Lotte.
Last month, the two travel retail giants were shortlisted for the five-year concession covering two stores spanning 733sq m. It seems Shinsegae Duty Free had also submitted a bid, but did not make it to the shortlist.
It appears Shilla’s strength in the business sustainability, financial health and investment category, counting for half of the overall score the bids were judged on, are what made the balance shift in their favor.
The opening follows the exit of, previous incumbent, CityPlus due to unsustainable losses
Even though Incheon International Airport is now the nation’s gateway, Gimpo still sees more than 25 million passengers every year.