On August 5, the signing ceremony of Hainan Laox Supply Chain Management Co. Ltd. took place in Hainan Travel Duty Free Shopping Mall. Zhiyong Xie, Chairman and General Manager of Hainan Travel Investment Duty Free Co., Ltd., Jinwen Li, Minister of Laox West Japan Department and Tong Su, Chairman of Hylink Digital Solutions Co., Ltd. attended the signing ceremony.
In recent years, the Ministry of Finance, the General Administration of Customs and the General Administration of Taxation have issued many favorable policies, including expanding the categories of duty-free goods, raising the annual duty-free shopping quota for outlying island passengers, and increasing ways of picking up goods for outlying island passengers. At the same time, the post-epidemic era has seen full rise of e-commerce platforms, and live streaming e-commerce has become the norm with China's streaming e-commerce user scale reaching 388 million, accounting for 63% of live webcast users and nearly 40% of the overall Internet users (source: CNNIC). Douyin, Kuaishou, Taobao and other platforms which hold high-quality content and traffic, are changing the decision-making mode of consumers, and are prompting us to rethink how we could meet consumption, create demand and release tourism consumption potential.
Facing this opportunity and change, Hainan Travel Investment Duty Free Co., Ltd., Hylink and Laox (Shanghai) have joined hands to establish Hainan Laox Supply Chain Management Co. Ltd. With Hylink’s rich experience and strong technological advantages in the fields of internet and e-commerce, the company will provide consumers with "offline plus online" services and reconstruct product development ideas around its new decision-making model.
In their speeches at the signing ceremony, senior managers of the three parties all expressed high expectations for the future development of the joint venture company and said that they would take this opportunity to establish and consolidate a long-term, close and win-win strategic cooperation and innovate the development model to enhance consumers' online and offline shopping experience as well as create standards for five-star duty-free services.
In the future, the three parties will use their advantages to release the potential of tourism consumption, promote the development of new tourism consumption modes and new models, boost the development of Hainan's duty-free market with practical actions, and contribute to the construction of Hainan's free trade port.
Hainan Travel Investment Duty Free Co., Ltd. belongs to Hainan Tourism Investment Development Co., Ltd. and has the qualification to operate in a duty-free manner on the outlying islands of Hainan. Its first duty-free store, Sanya Hainan Travel Duty Free Shopping Mall, officially opened on December 30, 2020, with a business area of 95,000 square meters, selling everything including perfume and cosmetics, bags, watches, jewelry, sunglasses and other products. It is a large-scale tourism retail business complex integrating duty-free shopping, taxable shopping, dining and entertainment.
Hylink Digital Solutions Co., Ltd. (stock code: 603825) is a growth-driven omnichannel marketing group. It has three advantageous business segments: information technology marketing services, new retail services and comprehensive content creation services. As the exclusive provider of official communications services for the Beijing 2022 Winter Olympic and Paralympic Games, Hylink is at the forefront of the industry in terms of market share and business scale.
Laox (Shanghai) Business Management Co. Ltd. is a wholly-owned subsidiary of Japan-based Laox Corporation in China. Founded in 1930, Laox is a well-known Japanese household appliance retailer. In 2009, it transformed into a duty-free retailer focusing on comprehensive duty-free business to adapt to market changes and the adjustment of shareholders. It is now the No.1 duty-free operator in Japan with rich purchasing channels, store operation experience and a mature management team.
