YANGON, 2 June 2015: Singapore Windsor Holdings has signed a 10-year agreement with DFS Group to operate duty-free outlets at Yangon International Airport and Nay Pyi Taw International Airport.
DFS Group is a Hong Kong-based retailer, majority-owned by conglomerate Moët Hennessy Louis Vuitton.
Myanmar Times reported a notice filed at the Singapore Exchange (SGX) reading: “In addition to a duty-free store at Nay Pyi Taw International Airport, we will open duty-free outlets at the existing departure and arrival terminal of Yangon International Airport, 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.”
By the end of this year, Singapore Windsor will manage almost 2,000 square metres of duty-free retail space at the two airports. The notice did not mention plans to introduce duty-free services at Mandalay International Airport.
DFS is headquartered in Hong Kong and has offices in Hawaii, Los Angeles, Shanghai, Singapore and Tokyo.
Singapore Windsor is a Singapore-listed, Myanmar-focused company, with interests in telecom infrastructure construction, trading, distribution and retail, serviced offices, and car hire and rental services.