In 2015, SMI was awarded the management of the entire retail space of 72,000 square feet to create a completely new consumer and retail experience for international travellers are the brand-new terminal of Yangon International Airport.
Taking Myanmar’s luxury travel retail environment to another level, SMI has introduced world class multi-category duty free brands supplied by DFS and also a wide range of international fashion and lifestyle brands most of which had not been present in Myanmar previously.
It is worth noting that FY2019 was the first year in which SMI’s duty-free business has benefited from the closure of the old international terminal which has diverted passenger to the main terminal where our duty-free business is located as well as a boost in the number of travellers from China.
Operationally, there were a number of regulatory hurdles but our team in the ground has swiftly addressed them to ensure that there is minimal disruption to our operations. We continue to prudently manage and control our stock ordering to ensure that our brands area being managed at optimum inventory levels.
The fashion and cosmetic stores that were opened in Junction City in 2017 have performed well, particularly, sales from Shiseido, Pandora and Coach have exceeded our initial expectations. Building on this momentum, we opened two more stores on Myanmar Plaza in 2018 and we will soon open additional stores in various new mall location in Yangon.
SMI has been able to conclude agreements with Alpargatas for distribution of Havaianas footwear and a joint venture with DKSH for the distribution of Levi’s jeans/apparel was started in May 2019. With our growing track record and retail management expertise in Myanmar, SMI continues to be approached by brands that we represent to ensure that it will be well-received by the targeted consumer segments in Myanmar.