DFS is forecasting an unprecedented investment into a 128,000 square meter site, attracting over 1,000 luxury brands including iconic maisons from the LVMH Group once fully operational. DFS Yalong Bay will become Sanya’s premier destination for luxury shopping, world-class accommodation, dining, and entertainment, serving international and domestic tourists with innovative, renowned luxury brands and experiences.
“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, in Cannes today. “Think the glamour and experience of Shanghai, Macau, Dubai, and Las Vegas: now add Sanya to these dream destinations. Yalong Bay represents a key entry point to Hainan which the China Government plans to turn into the world’s largest free-trade port. In addition to this strong policy, Hainan also offers luxurious resorts, beautiful sandy white beaches and high-end medical facilities. Hence, we believe that Hainan is well-poised to become one of the fastest growing luxury markets in the world maximizing both domestic and international consumption.”
Vuchot added, “With Hainan on course to become one of the world’s largest luxury retail markets 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. DFS Yalong Bay will be the only luxury retail property within Yalong Bay. We have tremendous excitement and optimism about this project.”
DFS Group’s objective is to lead and grow the market share of luxury in Hainan across fashion, beauty and fragrances, watches and jewelry by developing a seven-star world-class luxury retail and entertainment destination in Yalong Bay. Nancy Liu, President, DFS China confirmed DFS Yalong Bay development represents a core component of DFS’ long-term expansion and investment strategy in the China market.
“DFS Yalong Bay is the latest in a series of commitments we are making in China. Yalong Bay area is undoubtedly the most developed luxury natural cove in Sanya, where DFS will provide unparalleled personalized services to our patrons. This truly represents a substantial stride in DFS’ global strategy to expand in the China market through a multi-format, multi-channel expansion in the luxury travel retail sector.” said Liu.
Concluding, DFS Chairman and CEO, Benjamin Vuchot said, “This DFS announcement today is the clearest commitment we can make to the long-term development of Sanya and Hainan and the entire Chinese tourism market. Upon completion of DFS Yalong Bay, DFS will not only play a positive role in elevating Yalong Bay, but we will also secure Sanya as a top tier luxury destination on the global stage with the brand partners we bring, leveraging our DNA in luxury travel retail. Looking forward, we are committed to forging new retail legends in Hainan and throughout China with our strategic partners bringing unforgettable experiences to all domestic and international travelers. We are also proud of the contribution we will make to the local economy of Hainan. We expect DFS Yalong Bay to attract over 16 million visitors per year by 2030 and create sizeable economic opportunities within Yalong Bay.”
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Ruder Finn| Sandy Mo| +852 2201 6438| sandy.mo@ruderfinn.com
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About DFS Group
DFS Group is the world’s leading luxury travel retailer. Established in Hong Kong in 1960, DFS Group continues to be a pioneer in global luxury travel retail, offering its customers a carefully curated selection of exceptional products from over 750 of the most desired brands. Its network consists of over 50 stores located in 15 major global airports and 21 downtown Galleria locations on four continents, as well as affiliate and resort locations. The Group is privately held and majority owned by the world’s largest luxury conglomerate, Moët Hennessy Louis Vuitton (LVMH), alongside DFS co-founder and shareholder Robert Miller. DFS Group employs more than 6,000 people focused on creating inspiring omnichannel retail experiences for its customers and is headquartered in Hong Kong SAR with offices in Australia, China, France, Indonesia, Italy, Japan, Macau SAR, New Zealand, Singapore, United Arab Emirates, United States of America and Vietnam.
For more information, please visit www.dfs.com.
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SOURCE DFS Group