There’s room to expand and create more value for everybody,” commented Eudes Fabre, Lagardère Travel Retail’s CEO for North Asia, at a December webinar held by travel retail suppliers association TFWA. Other new duty-free stores include CNSC’s initial 360,000 square foot duty-free plaza, also in Sanya on the south coast, which coincidentally opened today as well. Lagardère Travel Retail hopes to capitalize on the continuing demand given that its operations in other parts of the world have suffered greatly, just like its rivals. Hainan duty-free sales have boomed since July but growth tapered slightly in October. But more Chinese shopping there will mean meager pickings for duty-free outlets elsewhere in the world.

Source: Forbes December 31, 2020 04:29 UTC