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Lotte Duty Free and China Duty Free Group (CDFG) have failed in their bids to secure a spot at Incheon Airport. They were not able to secure a license to set up their outlets at the facility while Hotel Shilla and Shinsegae Duty Free still remained as candidates for main operation at the said airport in South Korea.
It was reported that as Lotte Duty Free lost in its bid to operate at the Incheon International Airport, three other local companies were considered and officially shortlisted in the bidding. China’s largest duty-free company, the CDFG, also submitted its bid but did not make it to the list of candidates.
The three companies are now competing for the 10-year deal that will give the winner a license to operate at the popular airport. The lucky firms that were shortlisted are Hotel Shilla, Hyundai Department Store Duty Free, and Shinsegae.
According to Korea Joongang Daily, the three candidates have submitted multiple bids for a space within the five areas allotted for duty-free stores operated by large companies. The spaces are for cosmetics, perfume, accessories, luxury goods, fashion, and more.
All the duty-free firms seeking space at the Incheon airport presented their proposals last week. The airport said at the initial screening process that it would consider those with business capacity making up 60% of the evaluation score. The submitted bidding price will form the remaining 40%.
It was mentioned that the next round of screenings has been set for April, and it will be conducted by the Korea Customs Service. The agency will also be the one that will decide on the bidders' spots.
Meanwhile, The Korea Herald reported that business insiders opined that Lotte Duty Free’s failure to be shortlisted in the bidding process could be partly due to the partial withdrawal of its business at the Incheon Airport. It withdrew some of its stores in 2018 and only operated DF 3 after its successful bid for a spot in 2015.
