SMI signed a long term agreement in December 2015, after securing 6,700 square meters of retail space at the new terminal of Yangon International Airport.
This will cover a multi-brand and multi-category duty free space (almost 2,000 square meters on three levels) and
more than 4,500 square meters of mono-brand fashion, lifestyle and travel retail stores and concepts, all duty
This has led to the introduction of more than 30 international brands and has created an exceptional airport retailing experience. The duty free merchandise for the multi-brand and multi-category store will be supplied by DFS Venture Singapore, based on the 10 year exclusive supply agreement signed by SMI in May 2015. Together, these initiatives will augment SMI’s market position in the burgeoning travel industry and increase its business presence of consumer-related services in Myanmar.
First two duty free stores covering more than 400 square meters were opened on 6 July 2016 and over 6,000 square meters of mono-brand luxury retail stores were opened on 3 Sep 2016, with some more stores operational from Q4 2016.
Following the successful implementation of the
SMI secured approx. 65% of the commercial space in Level 1 (luxury floor) of Junction City, Myanmar’s first luxury retail mall. Coach, Aigner, Pandora, Bering, Versace, Love Moschino and Furla will have commenced business in April 2017, with Shiseido and United Colors of Benetton to follow in May 2017.