NEWS
LVMH-OWNED DFS TO OPEN “7-STAR” DUTY-FREE SHOPPING HUB IN SANYA OF HAINAN
By Susan Lewis
6-10-2023
Source: DFS Group
Global travel retailer DFS Group has announced plans to open a seven-star luxury retail and entertainment complex in Yalong Bay in Sanya city of China’s Hainan province to tap the duty-free privileges of the island.
Scheduled to open in 2026, the project is a first for DFS and an unprecedented amount of investment has been set aside for its construction.
The complex will span 128,000 square meters, it will attract over 1,000 luxury brands including iconic maisons from the LVMH Group which owns the DFS Group.
DFS plans to turn the complex into Sanya’s premier destination for luxury shopping, featuring world-class accommodation, dining and entertainment, serving both international and domestic tourists.
“DFS Yalong Bay is an incredibly exciting development for DFS, and I believe for the Chinese travel industry,” said Benjamin Vuchot, DFS chairman and CEO.
Source: DFS Group
“Think the glamour and experience of Shanghai, Macau, Dubai and Las Vegas, now add Sanya to these dream destinations,” he added.
The Chinese government is planning to turn Hainan into the world’s largest free trade port where luxury goods can enjoy duty-free status.
The DFS Group is confident that Hainan’s luxury retail market will see speedy growth in the next five years.
“DFS Yalong Bay will be a critical addition to DFS’ global portfolio. We expect tourism to grow significantly as investments in passenger airport capacity, high speed roads and port capacity will also boost tourism potential in Hainan,” said Vuchot.
Hainan currently has 12 duty-free shopping hubs, six of them are in provincial capital Haikou city, four in touristy Sanya city, one in Qionghai city and one in Wanning city.
China Duty Free (CDF) group is the most dominant player, it owns many of Hainan’s duty-free shopping centres.
Among them is the CDF Haikou International Duty-Free Centre, opened in October last year, it is the world’s biggest of its kind.
The Haikou centre spans 280,000sqm and boasts more than 800 international and domestic brands.
(the writer can be contacted at: info@thewinechronicle.com)
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