King Power is streamlining its duty-free business by closing its three downtown branches in Bangkok and Pattaya and launching a voluntary redundancy programme for employees.
The company said the closures of King Power Mahanakhon, King Power Srivaree and King Power Pattaya represent a practical solution that matches changing conditions in the tourism market.
The stores were designed to attract tour groups but their revenue has declined as tourism habits are changing and more people are travelling independently, it said.
Duty-free shopping in airports does not face the same problem as they are still able to earn income from individual passengers.
Its affiliate, King Power Duty Free Co, is also in the process of seeking an adjustment to the contract for operations at five airports with Airports of Thailand Plc (AoT).
Foreign tourist arrivals to Thailand have fallen about 5% so far this year compared with the same period in 2024, with Chinese arrivals down by about 33%.
Established in 1989, King Power is the largest duty-free shopping operator in Thailand.
