A third international duty-free operator is considering entering Sri Lanka’s Port City Colombo, following the recent cabinet approval for two operators to establish themselves in the special economic zone.
China Duty Free and One World Duty Free have been designated as businesses of secondary strategic importance by the Cabinet of Ministers.
“Our partners are now empowered to operate within the Colombo Port City Special Economic Zone, allowing for the eagerly anticipated opening of the Downtown Duty-Free Mall to go ahead before the close of Q3 2024,” stated Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd.
CHEC Port City Colombo also announced that a third international luxury duty-free brand is exploring collaboration within the duty-free mall concept, which will offer travelers more shopping options.
China Duty Free was named the world’s number one travel retailer, with a revenue of USD 9.3 billion in 2023, according to the Moodie Davit Report.
The Port City stores will feature a ‘downtown duty-free mall’ concept, similar to those in Singapore, Australia, and China.