(Source: Retail in Asia | 10 May 2016)
Duty Free Philippines (DFP) and Landmark Management Services* are finalising plans to open a major luxury duty free store in downtown Manila in early 2017.
The 4,500sq m Luxe Duty Free will be the first of its kind in the Philippines, focusing on fashion, cosmetics and fragrances and targeting affluent Filipinos and international tourists. Foreign tourists, ‘Balikbayans’ (Filipinos based or working abroad) and regular Filipino travellers have a shopping allowance of US$1,000 to use within 48 hours of arrival in the Philippines.
Luxe Duty Free, located within the entertainment and casino area of Bay City near the SM Mall of Asia, will be the first luxury downtown duty free store in the popular locality, the partners said.
DFP is the only body authorised to operate duty free stores at airports and seaports in the Philippines. Landmark Management Services is controlled by Jose (‘Chim’) N. Esteban III, the first General Manager of DFP, who formed his own brand representation company, Regent Asia Group, in 1995.06
“Building renovation is already ongoing and we are targeting to open April/May 2017.”
Bay City is known for its leisure and tourist attractions and is situated approximately 4.7k west of the Philippines’ central business district Makati City, and 7k south of capital city Manila. The country’s major domestic and international airports are also located within a 5k radius.
South Korea generates the most foreign visitors to the country, followed by the USA, Japan, China and Australia. Singapore, Taiwan, Canada, Malaysia and the UK round out the top ten.