Retail in Asia

In Shops

Takashimaya, ANA and South Korean firm to set up duty-free operator

Major department store operator Takashimaya Co. and two other firms will jointly establish a company Wednesday to operate duty free shops.

Takashimaya will own 60 percent of the new firm, to be named A&S Takashimaya Duty Free Co., while All Nippon Airways Trading Co. and Hotel Shilla Co. of South Korea’s Samsung group will each have a 20 percent stake.

The three companies announced in March that they will open a duty-free shop in Takashimaya’s flagship store in Shinjuku Ward, Tokyo, in spring 2017 and another in Osaka later.

(Source: Japan Times )