LEADING ASIA PACIFIC OPERATORS: DFS GROUP


DFS Group more streamlined in Asia after HKIA departure


In Asia, DFS has spent the last year celebrating its long-term business partnerships with airport authorities and luxury brands alike, while holding its regular Masters events. It is no wonder then that the company has managed to hold on to its status as a leading Asian travel retail operator for all these years… even if many of its stores reside outside of the airports, says Charlotte Turner.


A


lthough DFS Group famously bowed out of its Hong Kong Airport


contracts at the end of 2017, it is still heavily present in the region, with its T Galleria stores in Causeway Bay, Canton Road and Tsim Sha Tsui East. Indeed, its reputation for creating


stunning luxury retail environments in Hong Kong and many other parts of Asia has ensured it has retained its status as a leading travel retail operator in the region for decades. DFS now operates in 21 separate


locations within Asia and the Pacific Islands in the following countries: Bali, Guam, Hong Kong, Macau, Okinawa, Saipan, Siem Reap and Singapore. Although it is yet to be seen how


DFS will be affected by a slowdown in the Chinese economy in the coming months and years, business in the Asia Pacific region, for the most part, appears to be holding up well as parent company LVMH Moët Hennessy Louis Vuitton testified to recently. The commentary on DFS itself


DFS reinvents its T Galleria in Macau with the new 'World Design Space'.


was limited within the luxury goods group’s annual financial report. However, we can draw some conclusions about the travel retailer’s performance, such as the fact that it is faring better in Asia now, following its exit from the aforementioned loss-making contracts in Hong Kong. According to LVMH, the closure of these concessions at the end of 2017 contributed to a rebound in profitability LVMH adds that DFS progressed


LVMH Selective Retailing +6% organic growth in 2018


LVMH Moët Hennessy Louis Vuitton’s Selective Retailing Division, which includes travel retailer DFS Group, posted organic revenue growth of +6% in 2018. Excluding the impact of DFS Group’s exit from Hong Kong International Airport in 2017, organic revenue growth surged +12%. LVMH Group


revenue reached €46.8bn ($53.5bn)


MAY 2019


in 2018, an increase of +10% on the previous year. Bernard Arnault, Chairman and CEO of


LVMH (pictured left) commented: “LVMH had another record year, both in terms of revenue and results. In particular, profit from recurring operations crossed the €10bn mark. “The desirability of our brands, the


have once again made the difference. “In 2019 LVMH will continue its


creativity and quality of our products, the unique experience offered to our customer, and talent and commitment of our teams are the group’s strengths and


We can draw some conclusions about the travel retailer’s performance, such as the fact that it is faring better in Asia now, following its exit from the aforementioned loss-making contracts in Hong Kong.


strong dynamic of innovation, targeted investments, combining tradition and modernity, long-term vision and responsiveness, entrepreneurial spirit and a sense of responsibility. “In an environment that remains


TRBusiness


uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2019, our leadership in the universe of high quality products.”


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We can draw some conclusions about the travel retailer’s performance, such as the fact that it is faring better in Asia now, following its exit from the aforementioned loss-making contracts in Hong Kong.


TRBusiness


strongly in 2018 thanks to particularly good performances in Hong Kong and Macau. Recently opened


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