CDFG signs seven-year duty free contract with Shanghai airport operator
CDGF has formally signed a contract with Shanghai International Airport Co to operate the duty free business at Shanghai Hongqiao International Airport and Shanghai Pudong International Airport.
At the signing ceremony on September 7, Jia Ruijun, Chairman of Shanghai International Airport Co Ltd, said that the cooperation between Shanghai Airport and CDFG was a major event in China's duty free industry and of great significance.
Other attendees at the ceremony included General Manager of China International Group and Chairman of the Board of Shanghai, Chen Guoqiang; Shanghai General Manager Zhang Fengqi; Shanghai International Airport Co Ltd General Manager Hu Zhihong, Deputy General Manager Huang Wei and CFO Wang Xu; and Qu Yibing, General Manager of the operating branch.
For the past 20 years, Sunrise Duty Free/CDFG has been the operator at Shanghai’s two international airports. The strong support of shareholders such as China International Group and CITIC Group is expected to bring fresh impetus to the development of the duty free business at the two locations.
Shanghai is working towards becoming an international tourism city and has created a “Shanghai Shopping” brand, the airport operator said.
The company is expected to improve the quality of duty free shopping, build a good reputation, meet the diverse needs of shoppers, as well as keep up with duty free shopping trends, helping the city’s airports become the world's leading aviation hub.
Chen Guoqiang, General Manager of China International Group and Chairman of the Board of Shanghai, expressed his gratitude to Shanghai Airport (Group) Co, Ltd and Shanghai International Airport Co Ltd for their trust and affirmation.
He said that CDFG had achieved a “leap forward” in development in recent years, achieving more efficient product procurement and more diversified product categories. The operational management, marketing, and logistics systems had also made great progress.
He noted that Chinese tourists had become the main force of global duty free shopping. As a local duty free enterprise in China, CDFG was responsible for making a greater contribution to the prosperity and development of China's tax free industry.
He said that the Shanghai management team had a wealth of operational experience and a high level of management capabilities, and would not disappoint the expectations of Shanghai Airport.
In terms of store design, brand investment, pricing and other aspects of duty free retailing, Shanghai Airport would create a unique and industry-leading business, he concluded.
Hu Zhihong, General Manager of Shanghai International Airport Co Ltd, and Zhang Fengqi, General Manager of Shanghai Shangdi, said that the two parties would maintain a good cooperative relationship and work together to build Shanghai Airport Duty Free Shop into a new landmark for the Asia Pacific duty free industry.
During the next seven years of operation, the two parties will work together to enhance the shopping environment of Shanghai's two major airports, enrich the shopping brand, further promote the duty free business development of the airport, and bring higher quality to consumers, creating a new business card for "Shanghai Shopping", they said.