Governor says Taiwan's top duty-free retailer interested in investing in Guam

A major duty-free retailer from Taiwan could be looking to invest in Guam as the clock ticks on South Korea’s Lotte and Hong Kong’s DFS's exit, as Guam-Taiwan economic and tourism relations continue to grow. 

Taiwan’s Ever Rich is interested in a Guam investment, according to Governor Lou Leon Guerrero. She said, "In our meeting with President Lai last time, we actually met with the chair of Ever Rich. His name is Simon, a very, very astute businessman. Reminded me of a lot of our pioneers of business here."

As a result of that meeting with Taiwan president Ching-Te Lai and Ever Rich founder Simon Chiang last year, the governor says Chiang’s son, Ever Rich’s president Kevin Chiang, alongside a design engineer came to Guam to do an assessment at the Guam International Airport and in Tumon. This news as DFS Guam is ending operations in the tourism strip in just two weeks and Lotte Duty Free’s concession contract at the airport is expiring in four months. 

"They are interested," the governor stressed."Unfortunately, the numbers at the time wasn’t very much aligned with their business model, but they didn’t shut the door. They talked about other things that maybe we could work with them."

While nothing is set in stone, Ever Rich was invited to bid on the airport’s new request for proposal for a specialty retail master concessionaire, a gap Lotte could be leaving come July. 

Guam International Airport Authority board member Doyon Ahn Morato says the airport put out a new RFP on March 6, as separate negotiations with Lotte for an up to three-year extension is underway. 

"As you may already know, the governor was able to make a formal request to Duty Free to allow a waiver in our settlement agreement with them between Lotte, the airport, and Duty Free. We are in the middle of negotiating with Lotte for a short extension, but that does not discourage or affect our current RFP. Those are two separate things," Motato said.

Morato additionally says the airport authority is working closely with the Guam Visitors Bureau to push out the RFP and get as many new bidders as they can.  The governor says it was brought up during her trade mission to Taiwan last week, adding, "We did announce it with our meeting with the minister of foreign affairs and tour operator agents were there. They took serious notes about it and that they would also spread it out."

In the meantime, the governor says the short extension with Lotte would make a smooth transition possible, so there’s no break in services in the airport.