THAILAND. Lotte Duty Free says it is on course for a first-half opening of its Bangkok downtown store at the spectacular new Show DC complex, after overcoming protracted challenges in arranging airport pick-up rights.
Lotte Duty Free established a joint venture in Thailand in February 2014 and acquired the necessary Customs licence in November 2016. Everything seemed set for the company to open a 7,000sq m store on the second and third floors of Show DC, described as Thailand’s first entertainment & retail “mega complex”. A ‘Hallyu (Korean wave) town’ is touted as a core attraction.
However, Lotte Duty Free’s opening had to be postponed due to it being unable to secure airport pick-up rights – crucial to the success of a downtown duty free operation.
Today Lotte Duty Free revealed that it has achieved a breakthrough in gaining those rights, having worked in cooperation with the Korean Embassy in Thailand to convince the Thai government of its case for airport collection.
On 27 March, Lotte Duty Free said, the Ombudsman of Thailand (http://www.ombudsman.go.th) admitted the legitimacy of the company’s claim to airport collection in accordance with principles of fair trade.
The retailer said that the details of that decision have been relayed to the relevant institutions, including Airports of Thailand and the Ministry of Transport, and that appropriate measures will be taken within 60 days.
Accordingly, Lotte Duty Free Bangkok plans the partial opening of some 1,060sq m of Thai merchandise corners within the first half of this year. Other corners, including fashion and cosmetics, will be opened on a phased basis and the Grand Opening is planned for later this year.
About Show DC
The US$300 million Show DC is described as Thailand’s first entertainment & retail mega complex.
Show DC Corp is owned by AEC Capital Co, a private equity property investment fund, which is in turn a joint investment between Thai and Malaysia private investors.
The main Thai shareholder is Chayaditt Hutanuwatra, Chairman of AEC Capital Co and Show DC Corp.
Show DC promises “to sweep the tourism industry off its feet and revolutionise Bangkok’s tourism landscape” through an original entertainment concept targeted at international visitors and locals.
“The destination centre showcases the best of Thailand and Asia in a contemporary, high-energy environment brought to life by partners from ASEAN and East Asia’s commercial giants, each a leader in their respective industry,” the company claimed.
