Formoso, COO of Duty Free Philippines, has assumed the Fapra chairmanship from Mehmet T. Nane, chairman of Turkish Council of Shopping Centers and Retailers, who formally turned over the federation’s leadership to him during ceremonies at the recently concluded Asia Pacific Retailers Convention and Exhibition (APRCE) 2015 that Manila hosted last October. The APRCE is the biggest and longest-running retail industry event in the region.
The Fapra consists of the recognized national retail trade organizations in 18 member-economies—Australia, China, Chinese Taipei, Fiji, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, Turkey and Vietnam.
“As a veteran in the retail industry and being the concurrent president of PRA, we are confident Formoso’s chairmanship of Fapra would be very productive. We are sure he will guide the Fapra in the same way he ably shepherded the PRA,” the PRA Board said.
Turkey held the Fapra chairmanship for two years—from 2013, the year it hosted the APRCE, to 2015, the year the Philippines hosted it. The chairmanship of Fapra devolves to the immediate past host of
the APRCE.
The Philippines chairs the Fapra until 2017.
The Fapra was founded in 1989. It has implemented various initiatives and programs designed to develop itself and promote information exchanges and sharing experiences and concerns toward the development of the retail industry and improving the retailers’ status and the welfare of their clients in the region.
As new Fapra chairman, Formoso now presides over the federation’s policies and programs aimed at helping promote the growth and development of retailing in the Asia- Pacific region.