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King Power and CDFG to go own way on buyingKing Power and CDFG to go own way on buying
John Rimmer
30-Jun-2005
King Power Group and China Duty Free Group are to resume separate purchasing arrangements in the Chinese market, though the two operators will continue to seek business opportunities together through the China Power venture
King Power Group and China Duty Free Group (CDFG) have announced they are to restructure their joint venture China Power, formed in 2001 to run purchasing for the two companies. From July, King Power and CDFG will resume their own purchasing arrangements, though the two will continue to seek new business opportunities in Asia through China Power.In a statement, the companies said the change would provide "greater flexibility for each group to respond to its changing market". Both expressed satisfaction with the progress achieved by the partnership since 2001, and insisted the two operators would continue to cooperate.
RavenFox.com understands that the need for greater flexibility was central to the two companies' decision to separate their buying teams. A source indicated it would take some weeks for the split to be completed, but insisted that China Power would continue to trade and to challenge for airport concessions in China and beyond.
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