Shilla DF enters Chinese market, partnering with HTDF
Korean travel retailer Shilla Duty Free has just announced the signing of a strategic MOU with Hainan Tourism Investment Duty-Free Co. (HTDF) — a duty free company based in Hainan Province, China.
Shilla Duty Free has been operating since 1986. Since 2013, the operator has opened stores in Singapore, Macau and Hong Kong
Shilla made this agreement specifically to boost the operation of their duty-free shops in South Korea and China in response to the realities brough on by COVID, in line with their view to overseas expansion. This joint venture will see Shilla and HTDF cooperate in all areas of duty free shop operations, including product sourcing, market development, human resource exchange and joint product development.
HDFT is a downtown duty-free mall with shopping, dining and entertainment. The mall is located adjacent to Tian Ya Hai Jiao, one of the most-visited tourist attractions in Hainan — about 15km from Sanya Phoenix International Airport and about 6km from the nearest high-speed railway station. At 95,000 square meters in size, HDFT offers 500 brands in around 45 different categories.
An official from Shilla Duty Free said, "The signing of this MOU is meaningful in that it will allow us to enter the Chinese market, especially Hainan, which is rapidly growing even amid the COVID-19 crisis. We will overcome the difficulties in the duty-free shop industry by penetrating the overseas markets using a variety of different strategies.”
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