The Civil Aviation Authority of Singapore (CAAS) has issued a contract for a watch concession today, following the release of its wines and cigars tender yesterday and the liquor concession last Friday.

As already reported, the perfume and cosmetics concession – also covering all four terminals – is expected to be issued next month.
The liquor and tobacco and wine and cigars concessions are presently held by DFS Group and the fragrances and cosmetics business is operated by Nuance-Watson.
As exclusively reported by The Business/TREND (Mega L&T and P&C tenders, July 17, 2006) the contracts will cover all of the respective shops in Terminals 1, 2 and 3, as well as the newly-established Budget Terminal.
The change to a ?big four? concession award format coincides with the planned introduction of a High Street shopping mall retail layout in the new Terminal Three (T3), and a revamped Terminal One as part of the CAAS' efforts to provide passengers with a unique airport shopping experience.
Combined airport retail and F&B revenues totalled almost S$1bn ($637m) at Changi in 2005, up 14% from 2004 and the CAAS told TREND late last year that it was on target to hit between 8% and 10% revenue growth in 2006, with liquor, tobacco, perfume and cosmetics combined accounting for approximately 45%, or $286.6m of CAAS' total revenue.?