SSI Group enters travel retail arena
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Philippines specialty store operator SSI Group has made its first foray into the travel retail sector.
SSI, through a subsidiary SKL International, has bought a 50 per cent stake in Landmark Management Services which marks its debut in the increasingly lucrative travel retailing category.
The stake was acquired from duty free distributor Prime and the Regent Asia Group.
“We are very happy to be part of the development of the travel retail industry. We believe that with SSI’s retailing experience and Landmark’s deep understanding of the unique shopping requirements of travelers, we can expand our market to cover tourists and business travelers,” SSI President Anthony Huang said in a statement.
Landmark operates duty free and travel retail fashion stores at the Philippines’ larger airports as well as at Fiesta Mall in downtown Manila, under a concession from Duty Free Philippines.
SSI Group ended last year with 723 specialty stores and 134,000 sqm of retail trading area and was planning to open a further 130 this year, outside this week’s acquisition. The company’s brand portfolio includes Marks and Spencer, Gucci, Burberry, Hermès, Prada, Salvatore Ferragamo, Lacoste, Michael Kors, Kate Spade, Gap, Bershka, Aeropostale, Samsonite, Nine West and Payless Shoe Source.
Questions & Answers
Q.What is SSI Group's new venture in the travel retail sector?
What is SSI Group's new venture in the travel retail sector?
SSI Group, via its subsidiary SKL International, has acquired a 50 per cent stake in Landmark Management Services. This is their first entry into the travel retailing category, focusing on tourists and business travellers.
Q.Who did SSI Group buy the stake in Landmark Management Services from?
Who did SSI Group buy the stake in Landmark Management Services from?
The 50 per cent stake in Landmark Management Services was acquired from two entities: duty free distributor Prime and the Regent Asia Group. This transaction facilitates SSI's debut in travel retail.
Q.Where does Landmark Management Services operate its duty free and travel retail stores?
Where does Landmark Management Services operate its duty free and travel retail stores?
Landmark Management Services runs duty free and travel retail fashion stores at the Philippines' larger airports. They also operate stores at Fiesta Mall in downtown Manila, under a concession from Duty Free Philippines.
Q.What is the strategic reason SSI Group provided for entering the travel retail market?
What is the strategic reason SSI Group provided for entering the travel retail market?
SSI Group believes that combining their retail experience with Landmark's understanding of travellers' shopping needs will allow them to expand their market. They aim to cover both tourists and business travellers.
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