SMI revamped over 70,000 square feet in Yangon airport into a hotbed of luxury retail shops.
With its ambitious, impactful and high-quality design layout for the brand-new terminal at Yangon International Airport, SGX-listed Singapore Myanmar Investco Limited (“SMI”) takes Myanmar’s luxury travel retail environment to another level.
Although faced with strong competition from at least four international retail travel companies, SMI was awarded the entire retail space of 72,000 square feet to create a completely new consumer and retail experience for international travelers.
Faced with daunting deadlines as the new terminal was being completed, SMI’s President and CEO, Mr. Mark Bedingham, leveraged on his extensive experience and networks to attract more than 25 international retail brands (including Coach, Pandora, Swarovski, Tumi, Kinokuniya, among others) and F&B operators (such as Coffee Bean & Tea Leaf) to make their maiden foray in Myanmar.
Led by SMI’s Operations Director, Mr. Satheeish Subramaniam, the Group was able to ensure that all the duty-free stores were completed on schedule to welcome travellers to the new terminal.
Recognising the exceptional luxury retail environment created at the Yangon airport, SMI was conferred the Singapore Business Review’s Listed Companies Award for Luxury Retail.
SMI’s success in the duty-free travel retail business has also attracted the attention of major mall owners and developers in Yangon and it has culminated to the Group’s expansion of its retail presence with 8 retail stores in Junction City and 2 retail stores in Myanmar Plaza.
Within a short span of time, SMI has built up a diversified retail and consumer-centric portfolio in this last frontier market in Asia.
The SBR Listed Companies Awards was held on May 17, 2018 at the Conrad Centennial Singapore.
This year's nominations were judged by a panel consisting of Ng Jiak See, executive director and head of corporate finance advisory at Deloitte Singapore & Southeast Asia; Choo Eng Chuan, ASEAN markets leader and partner, international and corporate tax services at Ernst & Young Solutions LLP; Toh Kim Teck, assurance partner at Foo Kon Tan LLP; and Henry Tan, managing director at NEXIA TS.
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