Duty Free Philippines (DFP), under the leadership of chief operating officer Vicente Pelagio Angala, successfully navigated unprecedented challenges, deftly balancing operational cost management complexities and the pursuit of heightened sales opportunities in 2023.
The company achieved a commendable sales milestone in 2019, totaling an impressive $226 million, alongside a parallel surge in income, reaching a substantial P464 million.
DFP’s unwavering commitment translated to a significant P243 million contribution to the Department of Tourism (DOT), fortifying crucial support for government-driven tourism initiatives. Despite the global pandemic’s temporary disruption, the company’s resilience, coupled with strategic adaptations, paved the way for survival and steadfast recovery.
Speaking in front of the media, Angala presented the company’s accomplishments for 2023, marked by a 53-percent increase in sales during the fiscal year compared to 2022.
“We struggled to rise to the occasion but demonstrated our strength and resilience as an organization that can adapt and improve,” said Angala.
Expressing gratitude to Tourism Secretary Cristina Garcia Frasco for her unwavering support, DFP is set on a path of business recovery. The company has experienced a remarkable resurgence, driven by a steady increase in sales, particularly in top categories such as chocolates and confectionery, liquors and wines, and perfumes and cosmetics.
DFP achieved total sales of $3.3 million, showcasing a 312-percent increase from the previous year. Collaborating with the Department of Trade and Industry (DTI), the company is committed to featuring and representing Philippine culture and craftsmanship.
To enhance accessibility to Duty Free goods, the company resumed operations in Bacolod, Kalibo, and Iloilo international airports, with plans for additional stores at Clark Terminal 2 and the introduction of an online shopping platform.
Looking ahead to 2024, DFP embraces the challenge of increasing sales and income by 64 percent, aiming to reach $167 million.
“Thank you to all our loyal customers, our modern-day heroes, the OFWs, balikbayans, and their families for their love for pasalubong shopping. Indeed, it is our love for family that excites us to experience pasalubong shopping at Duty Free,” said Angala.
As Duty Free Philippines continues its journey, the company eagerly anticipates sustained collaborations and partnerships, inviting everyone to be part of this exciting adventure.
Duty Free Philippines Corporation, the country’s sole operator of the duty-and tax-free merchandising system, is mandated to cater to the duty-free shopping needs of international travelers, including balikbayans and OFWs. As an attached agency of the DOT, DFPC contributes its earnings to the development of the country’s tourism programs and projects.