Three still in the running for Changi luxury concession

Nicole Mezzasalma

Print Article E-Mail Article E-Mail Author

Of the ten original proposals, seven failed qualify for the second stage of the tender process at Singapore Changi airport

The Civil Aviation Authority of Singapore (CAAS) has shortlisted three companies— Ermenegildo Zegna Far East (Ermenegildo Zegna), Gassan Diamonds Singapore (Tourbillion) and Luxury Ventures (Jimmy Choo)—following an invitation to tender for a luxury brand name concession at Singapore Changi airport terminal three departure/transit lounge south. Of the ten 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).

Ermenegildo Zegna offered an additional rental of either 24% of the total monthly gross sales (tmgs) a minimum monthly guarantee (mmg) of S$100,000 ($68,466), whichever is higher. Gassan Diamonds’s bid specifies an additional rental of either 20% of tmgs or a mmg of S$125,000 ($85,569) in year one, S$141,667 ($96,979) in year two and S$166,667 ($114,092) in year three, whichever is higher. Finally, Luxury Ventures offered an additional rent equivalent to the highest of either 10% of tmgs or a mmg of S$10,500 ($7,187) in year one, S$11,500 ($7,872) in year two and S$12,500 ($8,556) in year three.

The contract for the concession runs for three years starting on January 9.