King Power
Thai duty-free shop
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Key Takeaways
- The King Power International Group (Thai: กลุ่มบริษัท คิง เพาเวอร์ อินเตอร์เนชันแนล ) is a Thai travel retail group, based in Bangkok.
- He was succeeded as chairman by his son, Aiyawatt Srivaddhanaprabha.
- " The company is the largest duty-free retailer in Thailand.
- In 2015, King Power launched an online site selling duty-free and duty-paid items.
- In 1995, King Power won the sole concession to operate duty-free shops at Don Mueang Airport, then Bangkok's main airport.
The King Power International Group (Thai: กลุ่มบริษัท คิง เพาเวอร์ อินเตอร์เนชันแนล) is a Thai travel retail group, based in Bangkok. The chairman and CEO was Vichai Srivaddhanaprabha until his death in October 2018. He was succeeded as chairman by his son, Aiyawatt Srivaddhanaprabha.
King Power's cash cow is the proprietary concession of Thailand's duty-free business." The company is the largest duty-free retailer in Thailand. Its duty free shopping mall in Bangkok's central business district covers over 12,000 square metres (130,000 sq ft) and it has branches at Suvarnabhumi Airport and Thailand's other major airports. In 2015, King Power launched an online site selling duty-free and duty-paid items.
History
King Power began in 1989, with a license granted for Thailand's first downtown duty-free shop at Mahatun Plaza. In 1995, King Power won the sole concession to operate duty-free shops at Don Mueang Airport, then Bangkok's main airport. In 1997, the government of Prime Minister Chavalit Yongchaiyudh granted the company the sole right to manage duty-free business at the World Trade Centre in downtown Bangkok for 10 years. The business had previously been managed by the Tourism Authority of Thailand. Some questioned whether it was contrary to Prime Minister's Office regulations regarding partnership with private business.
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