Swarovski wins Changi T2 concession

Gavin Lipsith

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The crystal gifts company wins a three-year concession in the terminal's north departures and transit lounge

Swarovski has been awarded a concession at Singapore Changi terminal two after offering a higher bid than three other contenders. The company beat competition from Market One, Eu Yan Sang and Bee Cheng Hiang Hup Chong to the contract for space at the departures and transit lounge north, which will run for three years from May 1.

Swarovski offered rent in year one of 25% of total monthly gross sales or a minimum monthly guaranteed payment of S$37,500 ($23,000). In year two it proposed 25.5% of total monthly gross sales or a minimum monthly guaranteed payment of S$40,000 ($24,540) and in year three it offered 26% of total monthly gross sales or a minimum monthly guaranteed payment of S$45,000 ($27,600).