Introduction: One World Duty Free is a newcomer to the travel retail sector, poised to open two exciting stores in Singapore and Sri Lanka, respectively. The company was founded by Chief Executive Officer, Singaporean businesswoman Keira Zhang. Martin Moodie caught up with her recently over lunch to find out more.
This article originally appeared in The Moodie Davitt Magazine for May. Click here for access.
Martin Moodie: Keira, One World Duty Free is an interesting newcomer to the travel retail industry. What can you tell us about the company’s background?
Keira Zhang: Thanks for the opportunity to share more, I am excited to introduce One World Duty Free (ODF) and cannot wait for the stores’ opening soon.
The idea to set up ODF popped up during a casual conversation with an industry friend. I saw a window of opportunity as I thought to myself, Singapore is truly a world-class regional financial and commercial hub and home to one of the world’s leading airports.
To date, we have had multiple international duty free operators who have been on our local shores, setting the stage for the industry’s growth. Yet we have not created a name for ourselves as a home-grown duty free operator. Surely, being one of the busiest ports in the world must mean something.
Despite the impact of COVID, we have welcomed over 6 million visitors in 2022, surpassing the Singapore Tourism Board’s forecast of between 4 and 6 million visitors.
I have always been very inspired by Singapore’s thriving economy, transparency, and diverse culture; this is important to the success of any business. Hence, I was determined to establish ODF and I am proud to say that we are today Singapore’s first home-grown omnichannel duty free operator.
Tell us a little about Keira Zhang and your ambitions for the business.
I’m Singaporean and spent a large part of my time working in Singapore, Hong Kong, Cambodia, Myanmar and Laos after completing my Master’s in Australia and a programme at the Nanyang Technological University of Singapore.
My entrepreneurial journey started in 2009 through my family business – FY Group, a property and construction equipment manufacturing company with a presence in Singapore, Malaysia and China. By 2014, the business expanded, and we became a multi- channel company and FMCG distributor, supplying Cognac, wine, Japanese whiskey and Chinese liquor and cigarettes to numerous leading duty free operators and speciality stores across the world.
This helped to give me a very comprehensive understanding of the ever-evolving travel retail industry. It was also during this period that I met the same industry friend whom I mentioned earlier, which eventually led to the birth of ODF in September 2019.
Additionally, I’m also very lucky to have the opportunity to run 35A Scotts, a Whisky Museum in Singapore that showcases one of the world’s largest whisky collections, featuring an exquisite collection of the world’s rarest whiskies.
Certainly, being one of the few female leaders in the male-dominated global travel retail trade has not been an easy journey. However, I am a firm believer in embracing changes and risk. This, coupled with my entrepreneurial background, was extremely helpful for me in the creation of ODF.
With the upcoming opening of ODF’s two new stores in Singapore and Sri Lanka, I hope to strengthen our presence in Asia. These two stores will establish the foundation of our business as we will be introducing a wide variety of liquor alongside perfumes and cosmetics from some of the world’s most renowned brands.
Concurrently and as part of our phased expansion plans, we will continue to keep a lookout for opportunities to expand and grow the business in emerging markets. Within the next two years, we will expand our merchandise offerings to include luxury goods, watches and jewellery. As part of my longer-term vision, I want to extend our global reach to many other new cities and make ODF a household name that travellers will be familiar with.
Let’s talk about those stores. You plan to open at Singapore Flyer. What can you tell us about that business?
ODF Singapore Flyer will be our flagship store in the heart of downtown Singapore. We chose this location because it is one of the most-visited local tourist attractions. Our new duplex store will feature a diverse range of beauty and liquor offerings and travellers will be able to enjoy great value from GST refunds on their purchases.
At ODF Singapore Flyer, we aim to raise the bar with innovation. Shoppers can look forward to a unique and fuss-free shopping experience that is optimised through technology and automation.
Imagine a robust omnichannel retail concept, built on innovative proprietary technology. This will help to complement the supply chain at the core of the business. Eventually, this will translate into more convenience for travellers who are always on the lookout for seamless and enjoyable shopping experiences.
Apart from our product offerings and technology adoption, we will also be launching ODF-X, which provides an elevated experience for travellers as they can enjoy wine tastings in the comfort of our new store.
What’s the timeline?
We are extremely excited to share that the store will open by the end of 2023, do keep a lookout for us!
And Sri Lanka? You have secured an important business opportunity there too. Again, what can you share?
Yes, apart from the upcoming store at Singapore Flyer, ODF will also be opening its second downtown duty free store at Sri Lanka’s Chec Port City.
Chec Port City sits on 269 hectares of reclaimed land and will feature the latest sustainable and smart city concepts. These will support the growth and development of tech businesses such as ODF. Layout and design planning for the Sri Lanka store is currently in the works. Like our Singapore store, we will commence operations by the end of 2023.
Always with a newcomer to the sector, it is not easy to attract brands. What is your message to the travel retail world about how you will handle and develop brands?
I’m happy that I have onboard a dedicated team of talents from diverse backgrounds, who are experienced industry professionals and passionate about making a difference. This way, we can share ideas as we produce out-of-the-box value-added solutions. It is good to have the team aligned towards the same common goal – we want to make travel retail limitless.
Though we are new to the market, I see this as an opportunity to experiment with technologies and concepts and bring about innovations that will help us establish milestones along the way.
We want to marry brick-and-mortar retail stores with modern-day technology through the implementation of blockchain and smart solutions. Current pain points such as inventory traceability and retail efficiency will be addressed with these innovative solutions that aim to enhance the overall shopping experience. This will also help our brand partners manage operational challenges with ease.
That aside, we cannot underestimate the power of data in this tech-enabled ecosystem. We can then fully understand buying patterns and tailor targeted campaigns that drive conversion for our brand partners.
In a world driven by technology where ideas are constantly evolving, we are always on the lookout to help our brand partners navigate uncertainty and invest in high-value opportunities so we can work together to scale new heights.
Any final message to the industry?
We are eager to speak with other like-minded individuals who share our vision. Together, we can explore the possibilities in this industry. ✈
