File photo for reference only. Courtesy of Wikipedia

 

King Power is closing three downtown shops in Bangkok and Pattaya, cutting costs as group tour revenues dwindle. The voluntary redundancy scheme aims to right-size operations for a smoother future, says CEO Nitinai Sirismatthakarn.

 

Affected are the King Power Mahanakhon, Srivaree, and Pattaya branches, originally set up for tour groups. Changing tourism trends have led to an increase in independent travellers, which is causing a revenue dip. Airport duty-free shops remain unaffected by these shifts, still catering to individual passengers.

 

King Power Duty Free Co is currently seeking to renegotiate its airport contracts with Airports of Thailand Plc (AoT). This comes as tourist arrivals in Thailand drop by about 5% this year, with a significant 33% fall in Chinese tourists. Consequently, AoT shares have plummeted by 35.6% since the year's start, worrying investors about potential revenue losses from King Power.

 

Nitinai, King Power’s CEO since June 4 and a former AoT president, emphasises that these cost-control measures are independent of ongoing contract negotiations with AoT. He points out that similar adjustments are a common occurrence for many businesses, not just King Power.

 

The company’s voluntary redundancy programme offers compensation according to labour laws, with no specific headcount reduction target. Employees at the closing branches can relocate to other company locations if they choose to stay, reported Bangkok Post.

 

Founded in 1989, King Power remains Thailand’s largest duty-free shopping operator. Recently, AoT extended the payment terms for three contracts at five airports, allowing installment payments. Some minimum benefit payments have been deferred for eight months.

 

Earlier this year, King Power considered terminating its airport contracts due to declining tourist numbers, highlighting the challenging circumstances facing the travel retail sector.

 

  Adapted by ASEAN Now from Bangkok Post 2025-07-23

 

 

17 minutes ago, webfact said:

Earlier this year, King Power considered terminating its airport contracts due to declining tourist numbers, highlighting the challenging circumstances facing the travel retail sector.

 

Other than sheer boredom, I don't understand why anyone shops at the airport now that you can order just about anything online at a better price and not have to carry it with you.

 

The only time I do that is when I forgot to buy a gift for the GF and I'm already in the doghouse for something else.

 

Good riddance! Once in my life I actually wanted to shop there last year. Almost bought a bottle of cheap Australian red wine there. Staff gave the bottle to cashier, both mocking me, cause the bottle "only" cost 500 baht. (It was discounted, and would've cost in Oz probably just 200 or 250 baht.) I immediately asked for my money back, and had the last laugh, not to mention that, at my destination, I bought better and less expensive red wine (without another 100% import tax added). With such an attitude towards customers, I'm surprised they haven't gone bankrupt yet. I was at the time one of only 2 or three customers in the huge shop, but still they laughed my purchase off as being 'too cheap'. Well, they lost that sale too, and I wouldn't go to King Power again if they paid me... 😆

So duty free that it was more expensive than in a normal shop

1 hour ago, StayinThailand2much said:

Good riddance! Once in my life I actually wanted to shop there last year. Almost bought a bottle of cheap Australian red wine there. Staff gave the bottle to cashier, both mocking me, cause the bottle "only" cost 500 baht. (It was discounted, and would've cost in Oz probably just 200 or 250 baht.) I immediately asked for my money back, and had the last laugh, not to mention that, at my destination, I bought better and less expensive red wine (without another 100% import tax added). With such an attitude towards customers, I'm surprised they haven't gone bankrupt yet. I was at the time one of only 2 or three customers in the huge shop, but still they laughed my purchase off as being 'too cheap'. Well, they lost that sale too, and I wouldn't go to King Power again if they paid me... 😆

You remember when they had the shoplifting scam? arresting people under false pretenses and the police would extort money

1 hour ago, StayinThailand2much said:

Good riddance! Once in my life I actually wanted to shop there last year. Almost bought a bottle of cheap Australian red wine there. Staff gave the bottle to cashier, both mocking me, cause the bottle "only" cost 500 baht. (It was discounted, and would've cost in Oz probably just 200 or 250 baht.) I immediately asked for my money back, and had the last laugh, not to mention that, at my destination, I bought better and less expensive red wine (without another 100% import tax added). With such an attitude towards customers, I'm surprised they haven't gone bankrupt yet. I was at the time one of only 2 or three customers in the huge shop, but still they laughed my purchase off as being 'too cheap'. Well, they lost that sale too, and I wouldn't go to King Power again if they paid me... 😆

"Too Much Touchy in Thailand"!! Harden up butter cup? 😭

56 minutes ago, jaywalker2 said:

You remember when they had the shoplifting scam? arresting people under false pretenses and the police would extort money

 

Yes, I do. It was big news for weeks...

Going, going, gone ... the sooner the better.

 

The duty free shop which is more expensive than buying at a normal shop, or online as some have noted.

 

In most countries, King Power would have been taken to court decades ago, as their prices are clearly NOT duty free, thus false advertising.

Yes, way too expensive but when you factor in the unrealistic level of the Thai Baht is at then no wonder they have bitten the bullet.

In the "olden" days, every time I made a trip to see the family in the US, when I returned to Swampy, I'd stop off at the duty free, buy the biggest bottler of vodka they had, and down about half of it when I got back to my condo. Spent the next day hung over, then the day after the jet lag was all gone.

With a monopoly of duty free operations in various Thai airports, it's amazing how King power can't make money. This Nation article gives the history of the King Power saga:

https://www.nationthailand.com/business/corporate/40051565

This article gives details of the lawsuit brought against King Power in 2017 over alleged underpayment of revenues to AOT:

https://www.occrp.org/en/news/thailand-owner-of-leicester-city-faces-422m-graft-suit

9 hours ago, StayinThailand2much said:

Good riddance! Once in my life I actually wanted to shop there last year. Almost bought a bottle of cheap Australian red wine there. Staff gave the bottle to cashier, both mocking me, cause the bottle "only" cost 500 baht. (It was discounted, and would've cost in Oz probably just 200 or 250 baht.) I immediately asked for my money back, and had the last laugh, not to mention that, at my destination, I bought better and less expensive red wine (without another 100% import tax added). With such an attitude towards customers, I'm surprised they haven't gone bankrupt yet. I was at the time one of only 2 or three customers in the huge shop, but still they laughed my purchase off as being 'too cheap'. Well, they lost that sale too, and I wouldn't go to King Power again if they paid me... 😆

Yes, I'll have to do that differently next time, while waiting at the airport I like to drink a few glasses of wine in the evening, but at Suvarnabhumi it's 400 THB/glass.
You'll understand what I'll do next time.

I think their goods were duty free but marked up to ridiculous prices. Bye bye King Power.

11 hours ago, webfact said:

King Power is closing three downtown shops in Bangkok and Pattaya

 

Not looking good for King Power, with the relegation of Leicester City Football Club  (UK)  as well!

10 hours ago, impulse said:

 

Other than sheer boredom, I don't understand why anyone shops at the airport now that you can order just about anything online at a better price and not have to carry it with you.

 

The only time I do that is when I forgot to buy a gift for the GF and I'm already in the doghouse for something else.

 

Maybe need new GF or upgrade dog-house with beer fridge🙃🙃

So it actually do matter, from which countries AOT tries to attract travellers to Thailand. I wonder if they are now missing the tourists from Europa and America, who they chose not to care about.

I have always wondered about this company and lese majesté.

Again blaming the Reduction of Chinese visitors for loss in Airport sales how about offering discounts to tourists.

5 hours ago, Peterphuket said:

14 hours ago, StayinThailand2much said:

Yes, I'll have to do that differently next time, while waiting at the airport I like to drink a few glasses of wine in the evening, but at Suvarnabhumi it's 400 THB/glass.

 

Free in the lounge. 

13 hours ago, ikke1959 said:

So duty free that it was more expensive than in a normal shop

 

Exactly. A bottle of Sangsom cost more at King Power than at the local 7/11

Doesn’t surprise me at all. Inflated prices in shops and airports. Only a fool or desperate would shop there. Always has been a rip off.

 

 

So, duty free that it was more expensive than in a normal shop Thais have finally woken up to the rip off merchants.

On 7/23/2025 at 6:24 AM, ikke1959 said:

So duty free that it was more expensive than in a normal shop

That was the scam... finally caught up with them

Compared to King Power Rip-off outlets you might be interested to learn, that i.e. luxury watches are cheaper in town, when those department stores (i.e. Central, The Mall, Terminal 21 etc.) run watch fair promotions. 

The profits hauled in by King Power must have been enormous given the fact, that the watches in town are taxed with 5% import duty and 7% VAT - just saying. 

The only people shopping there were Chinese as prices are cheaper than China.They have been over the top and never bought one thing there as somebody said it is cheaper to buy the item back home.Now Chinese number have dropped of and business is struggling.Maybe we can get some competition in the industry?

On 7/23/2025 at 2:15 PM, Mr Meeseeks said:

 

Free in the lounge. 

But how much was your flight ticket or lounge access fee? 

1 hour ago, Lancelot01 said:

But how much was your flight ticket or lounge access fee? 

 

Nowt, lounge access is free with my bank card. 

 

Also, I am platinum on Qatar Airways.

Like other obsolete or irrelevant businesses they’re disappearing. 

15 years of travel through swampy and never yet bought anything at King power.

On 7/23/2025 at 5:17 AM, StayinThailand2much said:

 I wouldn't go to King Power again if they paid me... 😆

Don't think they are bothered much