China Duty Free Group signs 10-year duty-free concession contract with Beijing Daxing International Airport
China Duty Free Group (CDFG) has signed a ten-year contract with Beijing Daxing International Airport to manage two ten-year duty-free concessions for tobacco and food/confectionery, as well as beauty and fashion.
The company announced this significant milestone in its duty-free retail business through a press release, today.
The contract signing ceremony was held yesterday (10 April) and attended by senior members from CDFG, Beijing Capital Airport Group as well as China International Travel Service Corporation (CITS). China Duty Free Group President Charles Chen and Beijing Capital Airport Commercial & Trading Co General Manager Li Hong signed the contract.
During the ceremony, Li Hong and Yang Xuebing, Deputy General Manager for Beijing Capital Airport Group Company’s Strategic Development Department, delivered speeches that highlighted the importance of the partnership between CDFG and Beijing Daxing International Airport.
“Being a global leader in the duty-free retail industry, CDFG is an important and ideal partner for Beijing Daxing International Airport. Both enterprises have much in common, being state-owned, with strong partnership to help strengthen duty-free retail industry in China.”
To achieve this goal, CDFG will make use of its experience and investments in marketing to help drive the duty-free retail business in the airport. Both CDFG and CITS will aim to complete all preparation works on schedule to ensure a smooth opening in September.
Additionally, all three parties highlighted the importance of this long-term partnership. In the next ten years, both CDFG and Beijing Capital Airport Group will collaborate to set a new standard in the retail business and enhance the reputation of Beijing Daxing Airport through initiatives to improve its services to the customers.
The Beijing Daxing International Airport is due to be completed on 30 June and opened by the end of September. It is estimated that the airport will see an increase in in visitor numbers from 45 million to 72 million between 2021 to 2025.