Major Japanese department store operator Takashimaya Co. plans to open an airport-style duty-free shop in Tokyo in a bid to capture the growing tourism market, informed sources said Wednesday.
Takashimaya will establish a company to operate the shop jointly with All Nippon Airways Trading Co., a unit of ANA Holdings Inc., and Hotel Shilla Co., an affiliate of South Korea’s Samsung Electronics Co., the sources said.
The duty-free shop will open within Takashimaya’s flagship store in the busy Shinjuku area in spring 2017, the sources said.
The joint company will be held 50 percent or more by Takashimaya. Hotel Shilla will provide its know-how on duty-free shop operations.
Such duty-free shops exempt shoppers from the consumption tax, customs duties, and liquor and tobacco taxes.
There are growing moves to set up duty-free shops outside airports on the back of the ever-increasing number of foreign visitors to Japan.
In January, a company partly owned by another major department store operator, Isetan Mitsukoshi Holdings Ltd., opened a duty-free store at Mitsukoshi’s outlet in Tokyo’s fashionable Ginza district.
South Korean retail giant Lotte Group is slated to open a duty-free shop in Ginza later this month.