CHINA. China Tourism Team Obligation Free of charge Corporation (CTG), mother or father organization of the world’s amount 1 travel retailer China Responsibility Totally free Group (CDFG), today confirmed its powerful general performance in 2023 to start with unveiled in its preliminary results printed on 8 January.
Revenue rose +24.1% calendar year-on-12 months to CNY67,540 million (US$9.3 billion), even though internet revenue improved +32.8% to CNY6,790 million (US$939.4 million). See tables underneath for full benefits.
Chairman Wang Xuan said: “In 2023, in the encounter of a elaborate and ever-shifting industry natural environment, the enterprise propelled beneath force, concentrated on our major jobs of stabilising expansion, optimising structure, enhancing good quality and effectiveness, managing challenges and strengthening celebration setting up, and solidly carried out reform and innovation and administration improvement, accomplishing steady advancement of high-quality and performance.”
Wang said the firm was dedicated to become a world-class travel retail operator. He highlighted the late 2023 opening of Block C at Sanya International Obligation Absolutely free Procuring Intricate in Hainan and (via the zone’s World wide Beauty Plaza) turning into the world’s initially unbiased journey retail complex specialising in fragrances and cosmetics.
Other standouts include the company’s profitable bids to operate arrivals and departures responsibility-free of charge stores at Tianjin Binhai Global Airport and departures responsibility-free of charge at Dalian Zhoushuizi International Airport.
These successes ended up mirrored in winning bids for 3 ports in Yunnan and the securing of legal rights to obligation-paid out tasks at Chengdu Shuangliu Global, Shanghai Pudong Intercontinental, Shanghai Hongqiao International and Harbin Taiping Worldwide airports, even further consolidating the company’s channel pros in China’s substantial and medium-sized airports and seaports, Wang notes.
CTG also received the responsibility-no cost contract at Siem Enjoy-Angkor Global Airport in Cambodia and subsequently opened. As reported, it also correctly bid to open up a Qeelin retail outlet at Changi Airport, Singapore, and released duty-totally free stores onboard Adora Magic Town and Mediterranea.
All through the year, the company launched the ‘S Store’ (Tremendous Company) job dependent on initially-tier brand name operations and support expectations, subsequently building a complete of 14 S Merchants.
This initiative is made to enhance provider expectations and market the optimisation and upgrading of classes and models. The enterprise also organised far more than 30 pursuits, together with the Island Responsibility-Free of charge Buying Competition and its annual Year-conclusion Gala.
“The organization continued to supply goods and products and services that had been well-liked with buyers, so as to encourage Hainan Island as the terrific duty-absolutely free model featuring quality solutions and practical browsing expertise generating a new product of ‘duty-cost-free + cultural tourism’, and supporting the design of Hainan Absolutely free Trade Port,” Wang mentioned, underlining the value of the offshore duty-totally free market place.
The Sanya International Responsibility Absolutely free Purchasing Intricate Section III undertaking, explained as “a new tourism retail landmark” and jointly developed by the organization and Swire Attributes, is progressing steadily, Wang claimed, properly empowering CTG’s mid- to long-time period improvement.
Wang also emphasised CTG’s enhanced aim on green advancement, which includes an in-depth work on ‘carbon peaking and carbon neutrality’. Throughout the year, the corporation ongoing to improve its four vital capabilities of ‘green development, environmentally friendly warehousing, environmentally friendly duty-absolutely free intricate, and inexperienced consumption’ to encourage the green and low-carbon manufacturing modes and life and better satisfy the obligations of a central company.
Wang concluded: “As the sector chief, in 2024 we will normally adhere to the advice of Xi Jinping’s ‘Thoughts on Socialism with Chinese Attributes for a New Era’ continue to maintain strategic concentrate, aim on vacation retail organization, and make a planet-class travel retailer with world-wide competitiveness and influence.”
Intensified Hainan aim
Consolidating the tactic of “deepening its existence in Hainan”, CTG additional 177 new domestic and overseas models to its functions on the island, concentrating on the launch of world confined editions, environment debuts and cdf-exclusives.
Once-a-year income at the 14 pilot ‘S Stores’ amplified by +65% year-on-calendar year. The cdf Hainan Application and mini application realised the integration of on the web reserving and the offshore additional acquire system as effectively as the “one-end aggregation” pertaining to facts relating to the 6 CDFG retailers on the island.
Key new initiatives to achieve fruition included Section II of the Sanya Phoenix Intercontinental Airport responsibility-free shop Sanya Global Duty Absolutely free Buying Sophisticated Block C and the renovated Phase II (obligation paid) of Sanya International Duty Totally free Procuring Complicated Yunjie Island (originally Hexin Island), attracting top rated luxurious models these types of as Louis Vuitton and Dior as well as more than 30 global substantial-conclude makes this kind of as Buccellati, Celine and Loro Piana. ✈
