Brisbane Tennis Trail's video: 1964 65 Hong Kong and the Chuck Feeney and Ken Fletcher Connection Duty-Free a democratic desire

refer https://en.wikipedia.org/wiki/Chuck_Feeney Hong Kong and the Duty-Free Shoppers connection The concept of "duty-free shopping"—offering high-end concessions to travelers, free of import taxes—was in its infancy when Feeney and his college classmate Robert Warren Miller started selling duty-free liquor to American servicemen in Asia in the 1950s.[7] They later expanded to selling cars and tobacco, and founded the Duty Free Shoppers Group (DFS Group) on November 7, 1960.[9] DFS began operations in Hong Kong, later expanding to Europe and other continents. DFS' first major breakthrough came in the early 1960s, when it secured the exclusive concession for duty-free sales in Hawaii, allowing it to market its products to Japanese travelers. DFS eventually expanded to off-airport duty-free stores and large downtown Galleria stores, and became the world's largest travel retailer. By the mid-1990s, DFS was distributing profits of up to $300 million a year to Feeney, Miller, and two smaller partners. "The rich returns came about in large part because DFS, like most other retailers in Asia, took a far higher markup on Western luxury items than was the case in Europe and the U.S. In New York, a retailer might price a designer handbag at 2.2 or 2.3 times the wholesale price. But in Asia, the retail price was a standard three times wholesale."[10] In 1996, Feeney and a partner sold their stakes in DFS to the French luxury conglomerate Louis Vuitton Moët Hennessy (LVMH). Miller opposed the sale, and before a presumptive lawsuit could reveal that Feeney's stake was owned not in fact by him but by The Atlantic Philanthropies, Feeney outed himself in a The New York Times article written by Judith Miller.[2][11] Atlantic made $1.63 billion from the sale.[5]