In Macau, casino operator Sociedade de Jogos de Macau (SJM), a subsidiary of SJM Holdings Limited, has entered into a Memorandum of Understanding (MoU) with Beijing-based China Duty-Free Group (CDFG) to open a CDFG flagship store at the under-construction Grand Lisboa Palace.
According to Asia Gaming Brief…
CDFG will be the anchor tenant and will occupy 7,500 square meters (80,729 square feet) of prime first-floor retail space at the $4.6 billion integrated resort on Cotai, Macau that is expected to open in the second half of 2019. The opening of CDFG’s flagship store will mark the downtown debut of the Chinese travel retail giant that operates as a subsidiary of China International Travel Service Corporation Limited.
Established in 1984, CDFG is the only state-owned enterprise authorized by the State Council to operate duty-free business across China. Over its three decades of development, it has established long-term relationships with over 300 top luxury brands worldwide and has set up more than 200 duty-free stores in thirty provinces, municipalities and autonomous regions of China.
To be located in Grand Lisboa’s highly-anticipated 53,000 square meters (570,487 square feet) retail mall, CDFG’s Macau flagship store will cover the first and second floors of the coming development.
Chairman of the Board of Directors for SJM, Dr. Ambrose So said…
“The introduction of CDFG’s Macau flagship store into Grand Lisboa Palace will greatly expand and enhance the retail offerings of our resort, appealing to any type of visitors especially those with sophisticated lifestyles.
“Leveraging the strong brand recognition and commitment to quality and service at both SJM and CDFG, our collaboration with CDFG will elevate visitors’ shopping experience in Macau and strengthen the positioning of Grand Lisboa Palace as Macau’s Capital of Style.”
For its part, CDFG President Charles Chen said…
“The opening of our Macau off-airport duty free store in Grand Lisboa Palace serves as a new step in CDFG’s business development. The Hong Kong and Macau market is a retail hotspot in the Asia Pacific, and through the successful tenders for expanded footprint in Hong Kong and Macau airports, as well as the upcoming store in Macau downtown, CDFG has steadily actualised its strategic plan for the region.
“Macau is an integral part of the Greater Bay Area, welcoming 32.61 million visitors in 2017, amongst which 90.3% were tourists from Greater China. As a Chinese duty free company with deep understanding of Chinese consumers, CDFG’s new duty free store will bring even more quality products and shopping experience to customers, supporting Macau’s positioning as a World Centre of Tourism and Leisure.”
Top-tier luxury brands:
In keeping with CDFG’s long-term relationships with premier luxury brands, the retailer responsible for duty free stores across Mainland China, Hong Kong, Macau, Taipei and Southeast Asia, including the world’s largest single duty free shop, Sanya International Duty Free Shopping Complex on Hainan Island, will reportedly carry a broad range of cosmetics and perfumes, jewelry and watches, shoes, accessories and apparel, along with travel-related merchandise and other categories, according to The Moodie Davitt Report.
Hong Kong-listed SJM Holdings Limited is responsible for 20 casinos and three hotels across Macau including the iconic Casino Grand Lisboa and the newer Emperor Palace Casino. It began construction on the Grand Lisboa Palace in February of 2014 in an effort to better compete with other nearby integrated casino resorts such as Sands China Limited’s $2.4 billion The Venetian Macao and the $3.2 billion Studio City Macau development from Melco Resorts and Entertainment Limited.
Grand Lisboa Palace:
Upon completion, the 17-acre development will reportedly feature a trio of hotels branded under the Grand Lisboa Palace, Palazzo Versace and Karl Lagerfeld monikers, with a total of approximately 2,000 hotel rooms and suites, facilities for meetings and conferences, shopping, dining and entertainment, and a casino with approximately 1,000 slots and 700 gaming tables.
The casino operator recently announced that the development was not damaged as a result of Typhoon Mangkhut in spite of reportedly being hit by wind gusts well in excess of 100 miles per hour.