On September 7, 2018, Sunrise Duty Free (Shanghai )Co., Ltd. (“Sunrise Shanghai”), a subsidiary of China Duty Free (Group) Co., Ltd (“CDFG”), officially signed a contract with Shanghai Airport (Group) Co., Ltd. and Shanghai International Airport Co., Ltd. with respect to seven-year duty-free operating right at Shanghai Hongqiao International Airport and Shanghai Pudong International Airport respectively. CDFG’s CEO and Sunrise Shanghai President Chen Guoqiang, Sunrise Shanghai’s CEO Zhang Fengyi, President of Shanghai International Airport Co., Ltd. Jia Ruijun, CEO Hu Zhihong and deputy CEOs Huang Ye and Wang Xu as well as CEO of Shanghai International Airport Co., Ltd’s business operations branch Qu Yibing witnessed this important moment in the history of China’s duty-free industry.
At the signing ceremony, President of Shanghai International Airport Co., Ltd Jia Ruijun noted that this cooperation between Shanghai airports and Sunrise Shanghai is a milestone in China’s duty-free industry. Over the past two decades, Sunrise Shanghai has made a huge operational success at Shanghai airports and Sunrise will surely bring renewed vitality to the duty-free business of Shanghai airports with the strong support of its shareholders including CDFG and CITIC, contributing to Shanghai’s efforts to create an international tourist city and build a brand “shopping in Shanghai”. He expected Sunrise Shanghai to improve the quality of airport duty-free shopping, create a distinctive word of mouth for desirable shopping experience, meet the diversified shopping needs, set the trends for duty-free shopping and help Shanghai airports become world-class air transport hubs that lead by quality, on which he placed high hopes.
CDFG’s CEO and Sunrise Shanghai President Chen Guoqiang first thanked Shanghai Airport (Group) Co., Ltd and Shanghai International Airport Co., Ltd for their trust in and recognition of CDFG. He said CDFG had been made leap-forward progress over the past years, especially after Sunrise Shanghai joined CDFG, which further enlarged the synergistic effects, made its commodity prices more competitive through an increased size of procurement, diversified its brand portfolio and commodity mix and led to substantial improvements in operation management, marketing and logistics system. Currently, Chinese tourists have become the leading force in the global duty-free shopping arena and CDFG as the local duty-free operator has the duty to make greater contributions to the prosperity of China’s duty-free industry. Sunrise Shanghai’s management team has rich operating experiences and high management capabilities and will definitely not fail the expectations of Shanghai airports. CDFG will fully meet the requirements for “shopping in Shanghai” in terms of decoration design, brand customer acquisition and commodity prices and will create distinctive and industry-leading airport duty-free business for Shanghai airports.
CEO of Shanghai International Airport Co., Ltd Hu Zhihhong and CEO of Sunrise Shanghai Zhang Fengyi also noted at the signing ceremony that both sides would maintain a good partnership and work together to make duty-free stores at Shanghai airports new landmarks in Asia Pacific’s duty-free industry.
This successful contract signing signifies that CDFG has embraced a new opportunity of development and that duty-free business of Shanghai airports will reach a new height. During the 7-year operating period, both sides will work together using respective expertise to improve the shopping environment at two Shanghai airports, broaden the brand mix for shopping, drive the duty-free business at the airports, bring higher-quality shopping experience to consumers and create a new brand of “shopping in Shanghai”.