HONG KONG. In big breaking news, a newly formed joint venture between King Power International of Thailand and King Power Group (Hong Kong) has been awarded contracts to operate five luxury concessions at Hong Kong International Airport.
The alliance, King Power Global Development Company, will operate watches & jewellery businesses for five brands from powerhouse Swiss luxury group Richemont: Cartier, IWC Schaffhausen, Piaget, Panerai, and Jaeger-LeCoultre.
The contracts begin in August/September 2019.
King Power Group (Hong Kong) Managing Director Antares Cheng said: “We are extremely pleased that King Power has been awarded these concessions and are grateful to Airport Authority Hong Kong for having confidence in us and the brands we represent.
“Our offer will be unique and, with our brand partnerships, we will deliver world-class retail of these products to the travelling consumers at Hong Kong International Airport. Our partnership with King Power Thailand also brings in a wealth of experience and expertise.”
Comment: This is a strong and momentous retailer combination offering a portfolio of powerful luxury brands, writes Martin Moodie.
The Thai and Hong Kong incarnations of the King Power name are wholly separate and distinct companies, though they enjoy common roots and much history. In this alliance, old compatriots have rejoined forces in a blockbuster combination that has triumphed in one of Asia’s most important airport retail tenders of the year. We’ll bring you more on the significance of this partnership in coming days.
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