Gassan wins Changi luxury brandname concession

Nicole Mezzasalma

Print Article E-Mail Article E-Mail Author

The retailer beat competition from Ermenegildo Zegna Far East and Luxury Ventures to win the tender

The Civil Aviation Authority of Singapore has awarded a luxury brand name concession at Singapore Changi airport terminal three departure/transit lounge south to Gassan Diamonds Singapore. The company beat competition from Ermenegildo Zegna Far East (Ermenegildo Zegna) and Luxury Ventures (Jimmy Choo) to win the concession, and will open a store under the Toubillion fascia.

The award was delayed due to a reduction to the size of the outlet from 100sq m (1,076sq ft) to 90.55sq m (974sq ft), which required the shortlisted companies to submit revised bids for the space. Gassan Diamonds offered an additional rental of either 20% of total monthly gross sales or a minimum monthly guarantee of S$100,000 ($69,939) in year one, S$120,000 ($83,927) in year two and S$140,000 ($97,914) in year three, whichever is higher.

Of the 10 proposals originally put forward by the nine participating companies, seven failed to qualify for the second stage of the tender process, when the financial offers are revealed: DFS Venture Singapore (Polo Ralph Lauren), Da Vinci Collection (Da Vinci), Jay Gee Enterprises (Aigner), Kwang Sia Ausway (Y-3), Luxury Ventures (Tod’s), Richemont Luxury (Alfred Dunhill) and Tiffany & Co (Tiffany & Co).