Grand Lisboa Palace inks MoU with duty-free giant

Based on Asia Gaming Short …

CDFG will be the anchor tenant and will occupy 7,500 square meters (80,729 square feet) of prime first-floor retail space in the $4.6 billion integrated resort on Cotai, Macau that is anticipated to open in the second half 2019. The introduction of CDFG’s flagship store will indicate the downtown introduction of the Chinese traveling retail giant that operates as a subsidiary of China International Travel Service Corporation Limited.

State-owned enterprise:

Launched in 1984, CDFG is the only state-owned enterprise authorized by the State Council to operate duty-free business across China. Within its three decades of development, it’s created long-term relationships with over 300 top luxury brands globally and has set up over 200 duty-free shops in thirty provinces, municipalities and autonomous regions of China.

To be found in Grand Lisboa’s highly-anticipated 53,000 square meters (570,487 square feet) retail mall, CDFG’s Macau flagship shop will cover the second and first floors of the coming development.

Chairman of the Board of Managers for SJM, Dr. Ambrose So said…

“The introduction of CDFG’s Macau flagship shop into Grand Lisboa Palace will greatly extend and enhance the retail offerings of our resort, attractive to any kind of visitors especially those who have complicated lifestyles.

“Leveraging the strong brand recognition and dedication to service and quality in both SJM and CDFG, our collaboration with CDFG will increase visitors’ shopping expertise in Macau and strengthen the positioning of Grand Lisboa Palace as Macau’s Capital of Style. ”

For its part, CDFG President Charles Chen said…

“The introduction of our Macau off-airport duty free shop in Grand Lisboa Palace serves as a new step in CDFG’s business development. The Hong Kong and Macau marketplace is a retail hotspot in the Asia Pacific, also through the successful tenders for expanded footprint in Hong Kong and Macau airports, in addition to the coming shop in Macau downtown, CDFG has steadily actualised its strategic program for the region.

“Macau is now an essential component of the Greater Bay Area, welcoming 32.61 million visitors in 2017, among which 90.3% were tourists from Greater China. As a Chinese duty free business with deep comprehension of Chinese customers, CDFG’s new duty free shop will bring even more quality goods and shopping experience to clients, encouraging Macau’s positioning as a World Centre of Tourism and Leisure. ”

In keeping with CDFG’s long-term relationships with premier luxury brands, the retailer responsible for obligation stores across Mainland China, Hong Kong, Macau, Taipei and Southeast Asia, for example, world’s largest single duty free store, Sanya International Duty Free Shopping Complex on Hainan Island, will reportedly carry a broad assortment of perfumes and makeup, watches and jewelry, shoes, accessories and apparel, along with travel-related merchandise and other types, according to The Moodie Davitt Report.

Company information:

Hong Kong-listed SJM Holdings Limited is responsible for 20 casinos and three hotels across Macau including the iconic Casino Grand Lisboa and the newer Emperor Palace Casino.

Upon completion, the 17-acre development will reportedly feature a trio of hotels branded under the Grand Lisboa Palace, Palazzo Versace and Karl Lagerfeld monikers, using a total of approximately 2,000 hotel rooms and suites, facilities for seminars and meetings, shopping, dining and entertainment, and a casino with roughly 1,000 slots and 700 gambling tables.

The casino operator lately declared the evolution was not damaged as a result of Typhoon Mangkhut despite being struck by wind gusts well in excess of 100 mph.