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South Korea’s Shilla Duty Free to expand in China
It will set up a joint venture with Hainan Tourism Duty Free City.
South Korea’s Shilla Duty Free will be making inroads into China through a partnership with Hainan Tourism Duty Free City-based in Hainan, Yonhap reported.
Both companies will seek to set up a joint venture and cooperate in all fields of duty-free business, including sourcing and market exploration. A Shilla Duty Free official said the company will make full-fledged efforts to tap into overseas markets and diversify its business.
The move comes as Shilla Duty Free opened a store in Changi Airport in Singapore in 2013.
Established as a subsidiary of Hainan Tourism Investment Development in 2020, the 95,000-sq. m. Hainan Tourism Duty Free City carries some 500 brands.
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