Duty Free Philippines gears up for sales growth in 2018

MANILA, Philippines — Duty Free Philippines Corp. (DFPC) expects further sales growth this year, with the opening of two of its largest stores next month.

In statement, DFPC chief operating officer Vico Angala reported that sales for the first four months of the year edged up by more than 7.5 percent, surpassing its four percent growth target for the period.

Net income also rose nine percent to P179 million from January to April.

DFPC’s growth is seen to further accelerate in the coming months, as it will add an estimated 7,800 square meters of new retail space, Angala said.

“We will be opening our own Duty Free Luxe Store. It will be the first Duty Free upscale shopping destination featuring fashion boutiques, perfumes and cosmetics, high-end liquor and wines and chocolates,” he said.

The Luxe Store will be a 4,200 square meter store located at the Mall of Asia complex.

Angala earlier said the Luxe Store will target the affluent Southeast Asian market.

DFPC will also open a 3,600 square meter Landside Store at NAIA Terminal 3 arrivals.

As the sole operator of duty-and tax-free merchandising system in the Philippines, DFPC operates duty and tax-free stores at international airports and seaports, selected hotels, tourist resorts, and commercial or trading centers throughout the country.

Angala said the management of DFPC have high hopes that its planned business initiatives would support long-term growth.

“We have come a long way from the first duty free outlet established at the arrival area of NAIA on May 2,1987, offering liquor, tobacco, fragrances and confectionery,” he said.

The departure shops at NAIA became operational after a month and a third outlet was opened at the Mactan International Airport in Cebu by the end of 1987. The Manila Hotel and Manila Garden Order Centers were added in 1988.

The first off-airport shop, the Fiesta Shopping Center, opened in 1989. It was an 8,000 square meter facility located across NAIA and was the country’s biggest duty free store then. Fiestamall, DFPC’s flagship store, opened in 1997. It was built on a five-hectare lot. It boasts of a 24,000 square meter selling area and state-of-the-art facilities.