Shilla Duty Free outperforms in Q1 with record-high sales

May 18, 2018Updated May 26, 20251 min read

Hotel Shilla’s airport retailer Shilla Duty Free has posted record-high first-quarter sales of KRW1.14 trillion (US$1 billion).

Korean-headquartered Shilla Duty Free earned KRW47.6 billion in operating profit in the quarter, mainly because of increased sales at its overseas duty-free shops.

Sales last year hit KRW600 billion, and the company expects sales to hit KRW1 trillion this year.

Shilla Duty Free opened its first overseas duty-free shop at Singapore’s Changi Airport in 2013, and in December opened its fifth overseas outlet at Hong Kong International Airport to become the first company to manage duty-free stores in the three largest airports in Asia – Incheon, Singapore and Hong Kong. It also has outlets at airports in Macau, Phuket and Tokyo.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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