Shilla Duty Free wins Gimpo’s bid for L&T concession
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Shilla Duty Free wins the bid against Lotte Duty Free for Gimpo International Airport’s five-year liquor and tobacco concession.
Gimpo is South Korea’s third busiest airport and the core duty categories will now be divided between South Korea’s two biggest duty free retailers – Shilla and Lotte.
Last month, the two travel retail giants were shortlisted for the five-year concession covering two stores spanning 733sq m. It seems Shinsegae Duty Free had also submitted a bid, but did not make it to the shortlist.
It appears Shilla’s strength in the business sustainability, financial health and investment category, counting for half of the overall score the bids were judged on, are what made the balance shift in their favor.
The opening follows the exit of, previous incumbent, CityPlus due to unsustainable losses
Even though Incheon International Airport is now the nation’s gateway, Gimpo still sees more than 25 million passengers every year.
Questions & Answers
Q.Which duty-free operator did Shilla beat to win the Gimpo concession?
Which duty-free operator did Shilla beat to win the Gimpo concession?
Shilla Duty Free won the bid against Lotte Duty Free for the five-year liquor and tobacco concession at Gimpo International Airport. This means the core duty categories will now be split between Shilla and Lotte.
Q.What kind of concession did Shilla win at Gimpo International Airport?
What kind of concession did Shilla win at Gimpo International Airport?
Shilla Duty Free won the five-year liquor and tobacco concession. This involves managing two stores covering a total area of 733 square metres within Gimpo International Airport, South Korea's third busiest airport.
Q.Why did Shilla's bid succeed over its competitors?
Why did Shilla's bid succeed over its competitors?
Shilla's strength in business sustainability, financial health, and investment appears to have swayed the decision. These categories accounted for half of the total score used to judge the bids for the concession.
Q.Why did CityPlus, the previous operator, leave the Gimpo concession?
Why did CityPlus, the previous operator, leave the Gimpo concession?
CityPlus, the former incumbent, exited the concession at Gimpo International Airport due to unsustainable losses. Their departure created the opportunity for the new bidding process that Shilla Duty Free won.
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