Shinsegae Duty Free, Chinese platform Fliggy sign MOU for travel-shopping synergies
Kim Hyun-chul, left, senior vice president of sales and marketing at Shinsegae Duty Free, and Fliggy General Manager Zhou Xiaochen pose after signing an MOU at Shinsegae Duty Free's headquarters in central Seoul, Thursday. Courtesy of Shinsegae Duty Free
Shinsegae Duty Free said Friday it has signed an initial agreement with the Chinese online travel platform Fliggy to expand travel-shopping benefits for visitors planning trips to Korea.
Shinsegae signed a memorandum of understanding (MOU) with the Alibaba Group-owned platform, known for its strong base of young, mobile-first travelers, to also expand cooperation with other Alibaba-affiliated services, the company said in a press release.
"By expanding our membership integration and co-branded programs with Fliggy, we look forward to delivering a differentiated global duty-free shopping experience for today's young, experience-driven travelers," said Kim Hyun-chul, senior vice president of sales and marketing at Shinsegae Duty Free.
The company said Fliggy's 500 million annual users will help the retailer broaden its global customer base as more Chinese travelers visit Korea amid the worldwide rise of K-culture.
Fliggy's premium paid membership program, 88VIP, has about 56 million members with high purchasing power and brand loyalty, making it a valuable segment for retail partners, the company said.
Shinsegae Duty Free is the duty-free business unit of Korean retail conglomerate Shinsegae Group, which operates the Shinsegae Department Store chain and Emart discount stores.