In 1989, King Power was granted by the Thai Government to open the first downtown duty-free retail shop, becoming Thailand's pioneer in the industry. The company was founded by Vichai Srivaddhanaprabha, who built the enterprise from a single downtown duty-free store into Thailand's leading travel retail group. The corporation established itself as a prominent duty-free retailer in Asia and earned the status as the 'King of Duty Free'.
Under the corporate philosophy of 'THE POWER OF POSSIBILITIES,' King Power has evolved into a comprehensive travel and lifestyle group with eight core business segments: Travel Retail, Retail (including the Firster platform), Dining, Hospitality, Consumer Products, Travel Experiences, Sports, and CSR. The company's portfolio includes duty-free operations at major Thai airports, downtown complexes, iconic landmarks like King Power Mahanakhon, and international football clubs such as Leicester City FC. Following Vichai Srivaddhanaprabha's passing in 2018, his son Aiyawatt Srivaddhanaprabha has continued to lead the company as Chairman and CEO, expanding its global footprint while maintaining its commitment to innovation in travel retail experiences.