Luxury Braces for the Return of the Daigou businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
Korea s duty-free sales rose nearly 37 percent on-month in February, industry data showed Monday, as China resumed short-term entry for Korean travelers.Combined sales at duty-free shops in Asia s fourth-largest economy came to 1.09 trillion won ($837.4 million) last month, up 36.7 percent from a month earlier, according to the Korea Duty Free Shops Association.Foreigners spending on duty-free goods surged by about 50 percent to over 894.6 billion won in February, compared with 596.4 billion won in January.
A bidding war is intensifying to win the rights to operate duty free shops at Incheon International Airport, putting domestic companies on high alert. Causing the alarm is China Duty Free Group, a state-run enterprise that accounts for the biggest slice of the global duty-free shopping market, which joined the competition last month. Also in the race is Switzerland s Dufry, targeting small-to-medium-size shops.
A bidding war is intensifying to win the rights to operate duty free shops at Incheon International Airport, putting domestic companies on high alert. Causing the alarm is China Duty Free Group, a state-run enterprise that accounts for the biggest slice of the global duty-free shopping market, which joined the competition last month. Also in the race is Switzerland s Dufry, targeting small-to-medium-size shops.