King Power
Thai travel-retail group best known for operating duty-free stores at major airports and tourist destinations.
Last updated August 21, 2026
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Overview
King Power International Group is a Thailand-based travel-retail company whose principal business is duty-free shopping. It is headquartered in Bangkok and has been described as Thailand’s largest duty-free retailer. The group operates airport outlets and downtown or tourism-oriented stores selling categories such as luxury goods, cosmetics, fragrances, fashion, alcohol, tobacco, confectionery, electronics, souvenirs, and other travel-related merchandise. Its business model has historically depended heavily on government-awarded concessions, particularly the rights to operate duty-free shops at major Thai airports. The company began in 1989 after receiving a licence to operate Thailand’s first downtown duty-free shop at Mahatun Plaza. Its position expanded in the 1990s when it won the concession for duty-free operations at Don Mueang Airport, then Bangkok’s principal international gateway. In 1997, it received the right to manage duty-free business at the World Trade Centre in central Bangkok for a ten-year period. These concessions helped establish a network combining downtown shopping with airport retail. King Power’s role grew further during the development of Suvarnabhumi Airport. In 2004, the Thai government granted it the right to operate duty-free shops at the new Bangkok airport for ten years. The group subsequently obtained concessions at several major provincial airports, including Phuket, Chiang Mai, and Hat Yai, and later added or expanded operations at Don Mueang and other Thai airports. The concentration of airport concessions made duty-free retail the group’s core commercial asset and led commentators to characterize its position as a government-sanctioned monopoly or near-monopoly. This structure contrasted with airports in some other countries, where multiple duty-free operators compete for concessions. The brand also developed beyond conventional airport retail. It opened a large downtown duty-free complex in Bangkok, launched a regional complex in Pattaya in 2011, and introduced an online channel in 2015 selling both duty-free and duty-paid products. It also secured an in-flight duty-free concession from Thai AirAsia X and operated branded retail locations connected with Leicester City Football Club. King Power’s commercial interests consequently broadened into aviation-related retail, tourism, e-commerce, sports marketing, and football ownership. Football became a major part of the group’s public identity under Vichai Srivaddhanaprabha. In 2010, a Thai-led consortium associated with King Power acquired Leicester City F.C. The club later achieved international prominence by winning the 2015–16 English Premier League title. King Power also acquired Belgian club Oud-Heverlee Leuven in 2017. These football assets supported the brand’s international visibility while providing platforms for youth development, sponsorship, hospitality, and community programmes. In June 2016, King Power acquired a 39 percent stake in Asia Aviation, the holding company of Thai AirAsia, making it the airline’s second-largest shareholder according to the cited reference material. The group also received a royal warrant in December 2009, and a garuda emblem displayed at its headquarters represents that association. Leadership changed abruptly in October 2018 when chairman and chief executive Vichai Srivaddhanaprabha died in a helicopter crash shortly after departing Leicester City’s King Power Stadium. His son, Aiyawatt Srivaddhanaprabha, succeeded him as chairman and continued to lead the group. King Power remains an active Thai travel-retail business with outlets at major airports and tourist locations, while its broader identity encompasses football, aviation investment, philanthropy, and national sports development.
History
King Power was established in 1989 after obtaining a licence to operate Thailand’s first downtown duty-free store at Mahatun Plaza. The initial model combined the convenience of a central-city location with the tax advantages associated with duty-free shopping, allowing the company to serve tourists before they reached an airport. The group’s most important expansion came through airport concessions. In 1995, it won the sole concession to operate duty-free shops at Don Mueang Airport, which at the time was Bangkok’s main airport. In 1997, it obtained the right to manage duty-free operations at the World Trade Centre in downtown Bangkok for ten years. The award attracted questions about the relationship between private commercial concessions and government regulations, but it also reinforced King Power’s growing position in Thai tourism retail. In 2004, the government granted King Power the right to operate duty-free shops at Suvarnabhumi Airport for a ten-year term. The group later received rights covering four major provincial airports. By 2016, the cited material identified branches at Suvarnabhumi, Don Mueang, Phuket, Chiang Mai, and Hat Yai, and the broader business subsequently described outlets at nine Thai airports and major tourist venues. The scale and concentration of these concessions made airport duty-free the company’s economic centre and generated comparisons with more competitive airport-retail markets abroad. King Power diversified its physical footprint in 2011 by opening a large complex in Pattaya, the first regional store in Thailand’s eastern region. In 2012, it added a new duty-free store at Don Mueang. In 2014, it obtained an in-flight duty-free concession from Thai AirAsia X and opened its first Leicester City fan store at Bangkok’s BTS Siam station. In 2015, it launched an online platform selling both duty-free and duty-paid merchandise, extending the brand beyond airport and downtown locations. The company received a royal warrant in December 2009; the garuda emblem at its headquarters is associated with that privilege. The group’s identity became increasingly connected to football. In 2010, a Thai-led consortium linked to King Power acquired Leicester City F.C. from Milan Mandarić. The club’s Premier League championship in the 2015–16 season gave King Power substantial international visibility. In 2017, King Power expanded its football portfolio by acquiring Belgian club Oud-Heverlee Leuven. Its sports involvement also included youth scholarships, football clinics, school pitches, football donations, and the King Power Cup. In June 2016, King Power bought a 39 percent stake in Asia Aviation, the holding company of Thai AirAsia. This transaction connected the company’s travel-retail business with a major low-cost airline and made King Power the airline’s second-largest shareholder. King Power faced a significant governance and reputational dispute in 2017, when a legal action alleged that it had failed to pay the Thai state the amount required under airport duty-free arrangements and had colluded with airport personnel. King Power denied wrongdoing. Airports of Thailand argued that the allegations misunderstood amendments to the fee structure: the relevant percentage applied to a different revenue base, and the revised arrangement was said to produce greater payments than the earlier formula. The court accepted the matter for preliminary proceedings, but in September 2018 dismissed it on standing grounds because the plaintiff was not an affected party. Leadership changed after Vichai Srivaddhanaprabha died in a helicopter crash on 27 October 2018, shortly after departing Leicester City’s stadium. The UK Air Accidents Investigation Branch attributed the accident to mechanical failure. His son, Aiyawatt Srivaddhanaprabha, succeeded him as chairman. The group continued its commercial, sports, and social programmes, including support for Thai football infrastructure and the King Power Thai Power initiative, which focuses on sport, music, community activity, education, and health.
- 2018
Leadership succession after Vichai’s death
[1]Vichai Srivaddhanaprabha died in a helicopter crash, and Aiyawatt Srivaddhanaprabha succeeded him as chairman.
- 2017
Oud-Heverlee Leuven acquisition
[1]King Power acquired Belgian football club Oud-Heverlee Leuven.
- 2016
Asia Aviation investment
[1]King Power acquired a 39 percent stake in Asia Aviation, the holding company of Thai AirAsia.
- 2015
Online retail launch
[1]The company launched an online channel selling duty-free and duty-paid products.
- 2014
Airline retail and first Leicester fan store
[1]King Power gained an in-flight duty-free concession from Thai AirAsia X and opened a Leicester City fan store at BTS Siam.
- 2011
Pattaya regional complex
[1]The group opened a major King Power complex in Pattaya, expanding its regional retail footprint.
- 2010
Leicester City acquisition
[1]A Thai-led consortium associated with King Power acquired Leicester City F.C.
- 2009
Royal warrant
[1]King Power received a royal warrant in December.
- 2004
Suvarnabhumi concession
[1]The Thai government granted King Power the right to operate duty-free shops at Suvarnabhumi Airport for ten years.
- 1997
World Trade Centre concession
[1]King Power received the right to manage downtown duty-free operations at the World Trade Centre for ten years.
Products and positioning
A leading Thai travel-retail and duty-free operator positioned around airport concessions, tourist shopping, premium international brands, and football-led international visibility.
Travel retail · 1989
Airport duty-free retail
King Power’s core offering is duty-free retail at Thai airports. Stores serve departing and arriving international travelers and carry a broad mix of luxury products, beauty, fashion, alcohol, tobacco, confectionery, electronics, and travel goods. The business depends on long-term concessions and high passenger flows at major airports, making location rights and government relationships central to the operating model.
Travel retail · 1989
Downtown duty-free stores
The company pioneered downtown duty-free shopping in Thailand, beginning with its Mahatun Plaza store and later operating prominent central-Bangkok locations. These stores allow tourists to shop away from the airport, with collection and travel-related fulfilment arrangements associated with duty-free purchasing. The format also supports a broader destination-shopping experience than a conventional terminal outlet.
E-commerce · 2015
Online duty-free and duty-paid retail
Launched in 2015, King Power’s online channel extended the brand into digital commerce. It offered both duty-free and duty-paid goods, complementing physical airport and tourist-location stores and giving customers a way to browse the group’s merchandise outside a terminal environment.
Sports merchandise · 2014
Leicester City fan retail
King Power developed football-related retail around its ownership of Leicester City F.C., including a branded fan store opened at BTS Siam in Bangkok. The offering connects sports merchandise and supporter culture with the group’s wider travel, tourism, and international-brand portfolio.
Controversies
2019
Political fundraising association
King Power was reported as a donor at a major fundraising dinner for the pro-junta Phalang Pracharat Party. The report contributed to scrutiny of the group’s relationships with successive Thai governments.
2017
Allegations over airport duty-free payments
King Power was accused in legal proceedings of failing to pay the Thai state the required amount from its airport duty-free monopoly and of colluding with airport employees. King Power rejected the allegations. Airports of Thailand disputed the interpretation of the concession terms and said revised fee calculations had not harmed the state.
Marketing campaigns
- 2017Sport Power
Thailand
Sport Power was a nationwide football-development programme intended to expand opportunities for Thai children. Its stated activities included distributing one million footballs and installing international-standard artificial-turf pitches for 100 schools and communities over five years.
Outcome. A multi-year youth football and community-development programme was launched; the cited material does not establish final completion figures.
- Fox Hunt
Thailand · United Kingdom
The Fox Hunt project provided scholarships and development opportunities for talented Thai young footballers, including training at the Leicester Football Academy in England.
Outcome. Continued as part of King Power’s football-development activity; no final participant totals are supplied in the reference material.
- King Power Thai Power
Thailand
King Power Thai Power is a corporate social-responsibility platform intended to encourage Thai achievement and opportunity across sport, music, community activity, education, and health.
Outcome. Established as an umbrella social-impact initiative; the supplied reference does not provide a definitive end date or aggregate results.
- Leicester City Football Clinic
Thailand
The football clinic programme used Leicester City-related coaching and brand assets to support football participation and skills development in Thailand.
Outcome. Operated as part of the group’s football and youth-development portfolio.
- King Power Cup
Thailand
The King Power Cup formed part of the company’s Thai football initiatives, providing a competitive platform connected with youth development and talent identification.
Outcome. Included among King Power’s continuing football programmes in the reference material.
Brand decisions
2019
Support Thai football infrastructureStrategyBackground
King Power positioned football development as part of its social-impact and national sports strategy.
Action taken
The group agreed to fund all construction costs for a Football Association of Thailand training centre in Muak Lek, Saraburi, as part of a wider twenty-year football-development plan.
Aftermath
The proposed centre was intended to support national football development; the supplied material does not confirm its completion.
Estimated construction cost. 500 million baht estimated (2019 announcement)
2016
Invest in Asia AviationM&ABackground
An investment in a major low-cost airline holding company offered a connection between aviation passenger flows and King Power’s travel-related businesses.
Action taken
King Power acquired 39 percent of Asia Aviation, the holding company of Thai AirAsia.
Aftermath
King Power became Thai AirAsia’s second-largest shareholder according to the cited reference.
2015
Launch online retail channelProduct launchBackground
Travel retail was increasingly extending beyond physical airport and downtown locations.
Action taken
King Power launched an online site offering duty-free and duty-paid products.
Aftermath
The move added an e-commerce channel to the group’s physical retail network.
2010
Acquire Leicester City F.C.M&ABackground
King Power sought to broaden its international profile and connect its brand with football and sports tourism.
Action taken
A Thai-led consortium associated with King Power acquired Leicester City F.C.
Aftermath
The club became a prominent international brand asset and later won the 2015–16 Premier League title.
2004
Secure Suvarnabhumi duty-free concessionStrategyBackground
Thailand was developing Suvarnabhumi as Bangkok’s principal international airport and sought operators for its commercial facilities.
Action taken
King Power accepted the government-granted right to operate duty-free shops at Suvarnabhumi for ten years and later expanded to provincial airports.
Aftermath
The concession became a foundation of King Power’s dominant position in Thai airport duty-free retail.
Sources1 sources
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