PANAMA. Regency Group, a privately held multinational company headquartered in Panama, is to open 4,500sq m of premium travel retail space at the expanded and refurbished Colon 2000 Cruise Terminal this September.
Regency described the project as “the largest travel retail facility in the Caribbean”. It will include space in Terminals 1 and 2 and the new Center area.
Around 1 million cruise travellers visit the terminal each year, offering Regency an opportunity that it described as “the best location in the crossroads of the world”.
Regency’s ambitiously developed retail complex will offer a series of product zones dedicated to cosmetics & fragrances; confectionery; luxury and fashion; liquor & tobacco; and watches & jewellery.
“While our company has airport stores in the Panama City (Tocumen International) airport, this will be our first [broader] travel retail operation,” Regency Travel Retail Director and Chief Operating Officer Ronny Basher told The Moodie Davitt Report during the Duty Free & Travel Retail Summit of the Americas in Orlando last week.
Regency said that Colon 2000 will attract visits from many major cruise operators, including Carnival, Royal Caribbean, Celebrity, Princess, Norwegian, Holland America, Viking, Seabourn, Azamara Club, Prestige, Regent, Crystal, Marella, Trui, Aida, MSC and Carnival (UK).
The Regency Group is no newcomer to retail though. The powerful conglomerate operates over 360 stores in the region and is one of the biggest domestic retail players in Panama, Colombia, Ecuador, Peru and Central America. The group also operates across real estate development, banking, insurance, tourism, energy and logistics businesses.
