02 October 2023
02 October 2023
The company achieves retail milestone by introducing paper packaging for toilet and kitchen rolls in the UK.
The supermarkets on sale are mostly located in the south of England, with 20-year inflation-linked leases.
Each store will be constructed with an investment of $7m and employ, 35 associates on average.
The retailer cited regulatory restrictions and the changing market environment as reasons for its decision.
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Per GlobalData, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats.
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