DFS declines to bid in liquor and tobacco concession at Changi Airport
After careful consideration, DFS has decided not to bid to retain the liquor and tobacco concession operations at Singapore Changi Airport, according to a statement issued by DFS Group Chairman and Chief Executive Officer Ed Brennan.
As a result, DFS will withdraw from this concession on its expiry in June 2020. DFS has held the concession at Changi Airport since 1980.
The press statement read: “Our decision not to bid was based on our unique understanding of the business environment as the current operator of this concession at Changi. Specifically, changing regulations concerning the sale of liquor and tobacco, against a global context of geopolitical uncertainty, meant that staying in Changi was not a financially viable option.
“Although this decision is the right one for our business, it was not taken lightly. DFS has held the concession at Changi Airport since 1980, and during this time we have exceeded all expectations for what travel retail can offer in an airport environment. We are proud of our achievements and deeply appreciative of the efforts of many talented people who have contributed to our success.
“We sincerely thank the Changi Airport Group for their past support, and extend our best wishes as they take the liquor and tobacco concession operations forward in partnership with a new operator.”
Brennan added that DFS Group’s luxury concessions at Changi, downtown operations at T Galleria by DFS, Singapore, and its Singapore Cruise Center business would operate as usual and were unaffected by the decision to withdraw from the liquor and tobacco concession.
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