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A King Power duty-free shop at Macau International Airport. King Power began in 1989, with a license granted for Thailand's first downtown duty-free shop at Mahatun Plaza. [5] In 1995, King Power won the sole concession to operate duty-free shops at Don Mueang Airport, then Bangkok's main airport.
King Power – the largest duty-free retailer in Thailand, its duty-free shopping mall in Bangkok's central business district covers over 12,000 m 2, [13] and it has branches at Suvarnabhumi Airport and Thailand's other major airports. In 2015, King Power launched an online site selling duty-free and duty-paid items. [14]
Vichai was the founder and CEO of King Power, an operator of duty-free shops. [6] In December 2009, King Power received the royal warrant from King Bhumibol of Thailand in a ceremony attended by Vichai. [7] In October 2018, he was ranked by Forbes magazine as the 5th richest man in Thailand, reportedly worth US$4.9 billion. [8]
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In 1960, American entrepreneurs Charles Feeney [5] and Robert Warren Miller [6] founded Tourists International, which later became Duty Free Shoppers (DFS), in Hong Kong.In 1962, two DFS stores were opened at the international airports in Hong Kong and Honolulu, the first duty-free shop in the United States.
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Brendan O'Regan established the world's first duty-free shop at Shannon Airport in Ireland in 1947; [6] it remains in operation today. Designed to provide a service for trans-Atlantic airline passengers typically travelling between Europe and North America whose flights stopped for refuelling on outbound and inbound legs of their journeys, it was an immediate success and has been copied worldwide.