CHINA. China Duty Free Group (CDFG) has signed a strategic agreement to open a downtown duty free store in Wuhan, capital of Hubei Province, according to a well-sourced report in Wuhan Evening News, subsequently republished through state-controlled internet media Baidu. [The Moodie Davitt Report is verifying all details with CDFG]
The store will open next year in the Wuhan Yangtze River Shipping Center Building, a spectacular 330m, 65-storey skyscraper currently being completed. The CDFG store is expected to help rejuvenate the economy and boost consumer consumption in Wuhan and Hubei, both hit hard by the devastating COVID-19 outbreak earlier this year.
The report said that CDFG and Wuhan Gangfa Group had recently signed a memorandum of intent for strategic cooperation. It quoted CDFG Director of Downtown Store Development Zhou Peng saying that downtown stores had considerable space advantages over their airport equivalents
CDFG already operates duty free business at Wuhan Tianhe International Airport.
Note: As reported, CDFG is a Diamond Partner at the inaugural Moodie Davitt Virtual Travel Retail Expo in October, while company President Charles Chen (below) will present a keynote address.