Katunayake duty free (airport) traffic slows to 18% this year
At least 85 per cent of arrivals at BIA are duty free shopping but the traffic has dropped this year, a new store with a range of duty free products in operation for one year said recently.
Launching their new logo and strapline by identifying themselves as “The Duty Free People,” Flemingo has entered Colombo and started out targeting at least 50 per cent of the traffic that was at around 30 per cent in 2011 but which has slowed to 18 per cent this year, its Director Operations P.K. Thimmayya said on the sidelines of the media briefing held in Colombo on Wednesday.
He said Sri Lanka had a better selection at Katunayake as opposed to Indian cities like Chennai or Kolkata with a larger space of 6000 sq. ft.
The reason, he said that people preferred duty free shopping was mainly because they would get good offers for genuine products.
Currently confectionaries tops the list in the large amounts of purchases while liquor also forms a large part of Flemingo’s sales, he explained.
With a total investment of US$5 million, Flemingo is set to expand further within the Katunayake airport itself and also has plans to move into Mattala (airport), he said.
Growth of air traffic in markets other than Delhi and Bangalore was currently at around 5 per cent compared to which Sri Lanka was relatively better, Mr. Thimmayya said.
Flemingo has grown from a single-country duty free operator to a global travel retail operator, spanning across three continents with 118 outlets in 26 countries and a focus on emerging markets, a media release issued by the company said.
Follow @timesonlinelk
Related Posts:
New Year car permit bonanza for 5,000 senior public servantsAt least 5,000 senior public servants are to be benefited annually by the government’s move of lifting the three year ...
No buyers, thousands of cars to be re-exportedCash-strapped car importers want to re-export more than 5,000 vehicles in a bid to minimise their losses. These cars had already ...
Piramal Glass reports post-tax profit of Rs. 414 mlnPiramal Glass Ceylon PLC (PGC) said its first half results for the year saw 8 per cent growth in turnover ...
Bajaj trishaw sales crash by 50 %Sri Lanka’s pioneer and exclusive Bajaj 3-wheeler dealer, the David Pieris Motor Company is stumbling from the current duty shock, ...
Low public float in listed firms concern for foreign investorsNDB Capital Holdings PLC could probably have the lowest free-float of shares in the Colombo Stock Exchange with just 0.34 ...