King Power

Lore & Background

King Power began in 1989, with a license granted for Thailand's first downtown duty-free shop at Mahatun Plaza. In 1995, King Power won the sole concession to operate duty-free shops at Don Mueang Airport. In 1997, the government of Prime Minister Chavalit Yongchaiyudh granted the company the sole right to manage duty-free business at the World Trade Centre in downtown Bangkok for 10 years. In 2004, the government of Thaksin Shinawatra granted King Power the right to operate duty-free shops at Suvarnabhumi Airport for 10 years.

King Power received the royal warrant from the King of Thailand in December 2009. In August 2010, following a three-year shirt sponsorship deal, Milan Mandarić sold Leicester City F.C. to a Thai-led consortium owned by King Power Group's Vichai Srivaddhanaprabha. On 16 May 2017, Belgian club Oud-Heverlee Leuven announced they had accepted an offer from King Power. On 27 October 2018, Vichai Srivaddhanaprabha died in a helicopter crash after leaving King Power Stadium, caused by mechanical failure.

Reader's Guide

King Power has outlets at nine Thai airports and stores in major tourist venues. Its duty free shopping mall in Bangkok covers over 12,000 m2 and it has branches at Suvarnabhumi Airport and other major airports. In 2015, King Power launched an online site selling duty-free and duty-paid items.

Did You Know?

• King Power's monopoly on duty-free at Thai airports contrasts with Incheon International Airport, which has twelve duty-free concessions.
• In 2016, King Power purchased a 39 percent stake in Thai AirAsia, making it the second largest shareholder.
• In 2017, King Power was accused of failing to pay the Thai state 14 billion baht from duty-free operations, but the case was dismissed in September 2018 because the plaintiff was not an affected party.