Duopoly

July 30, 2011 (LBO) – Dubai-based Flemingo International, which has won a concession to operate a second duty free shop in Sri Lanka’s main international airport, is aiming at a 55 million dollar annual market, an official said. Better pricing and availability of more brands can make passengers spend more in Colombo and prevent them from bringing goods from other duty free shops.

Flemingo, started in 1997 now ran 140 outlets including 36 in India, making it the top operator in that country. It had duty free operations in France, Russia, Poland, Romania and Turkey and in Africa and the Middle East.

Thimmaya said the group now operated in airports, seaports, land borders and ran defense and diplomatic duty free shops.

Flemingo also operates a ferry between India and Sri Lanka using a 1,000 passenger ship with its own duty free facilities. Flemingo Duty Free and Retail will operate 6,000 square feet of retail space in the arrival and departure terminals of Sri Lanka’s Bandaranaike International Airport, breaking a long-held monopoly in the airport.

“We will bring in better value, we will build a world class store,” Flemingo chief executive P K Thimmaya said.

“We will bring latest brands which is not always