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Incheon International Airport has released the tenders for its duty free operations at Terminal 1 for five-year contracts.
The tenders concern the Perfumes & Cosmetics, Liquor, Tobacco and Food, as well as Fashion concessions. They include eight stores, five of which are for general enterprises and three are for SMEs.
Proposals are being invited from companies that boast a capital of more than KRW 1bn (US$864,879).
A tender presentation will take place on 22 January and the tender registration on 26 February, with submissions on 27 February. The deadline for applications is 21 January 2020, noon, with participants asked to email icndutyfree@airport.kr.
An Incheon Airport spokesperson told DFNI earlier this week: “As the 4th phase of T1 duty free concessions begin from 2020, we are looking forward to seeing the successful launch of new concessions of Terminal 1. In order for the consistent world’s best duty free shopping service, we are still considering the optimal concession layout and strategy.”
Incheon Airport posted record high duty free sales last year, hitting $2.43bn, and the Perfume & Cosmetics category was the biggest-selling sector as it contributed $985m.
The trend was reflected across Korea, where duty free sales grew year-on-year and the market is hoping for further growth in 2020 with an expansion of duty free arrivals stores and the expansion of tobacco into arrivals. |
