Sociedade de Jogos de Macau (SJM) and China Duty Free Group (CDFG) announced that they have entered into a binding Memorandum of Understanding to open a CDFG flagship store at Grand Lisboa Palace in Macau.
Grand Lisboa is SJM’s future integrated resort on Cotai, Macau. It is expected to open in the second half of 2019.
CDFG will be the anchor tenant, operating 7,500sq m in a prime first floor retail space at the Grand Lisboa Palace, marking the Chinese travel retail giant’s downtown debut in Macau.
CDFG, established in 1984, is China’s leading duty free retailer, and is a subsidiary of the travel giant China National Travel Service Group Corporation Limited (CNTS).
CDFG has over 200 stores across China, the most duty free outlets in a single country within the travel retail sector.
CDFG’s Macau flagship store will be in Grand Lisboa Palace’s much-anticipated 53,000sq m retail mall themed “Fantasy Garden”, which will cover the first and second floors of the development.
Building on CDFG’s long-term relationships with top-tier luxury brands, its Macau flagship store at Grand Lisboa Palace will carry a diverse mix of perfumes and cosmetics, watches and jewellery, apparels, shoes and accessories, travel-related products, and other categories.
“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.” said Charles Chen, CDFG’s President.
(Source: The Moodie Davitt Report)