Singapore Windsor Holdings Limited announced that it has secured an exclusive 10-year supply and merchandising deal with DFS, a Hong Kong-based luxury travel retailer.
According to the agreement, in addition to a duty-free store at Naypyitaw International Airport, the group will open additional duty-free outlets at the existing departure and arrival terminal of Yangon International Airport.
This will be followed by a much larger duty-free retail space when the new terminal at Yangon International Airport is completed towards the end of this year, Singapore Windsor said.
In line with the strong market trend of inbound flights to Myanmar, the number of international travellers for leisure and business is forecast to grow rapidly. The new international terminal at Yangon is expected to handle three times the current passenger traffic volume of the existing terminal.
By the end of 2015, the group will be managing and operating almost 2,000 square metres of duty-free retail space at the two key airports in Myanmar.
Singapore Windsor has recently been aggressively expanding into Myanmar, eyeing telecom infrastructure construction, car hire and rental services, and trading and distribution ventures.
Established in 1960, DFS Group is one of the world’s leading luxury travel retailer, offering products from over 700 brands through 420 locations. DFS Group said over 200 million people visited DFS stores in 2014.