Shenzhen Duty Free Group and DFS Group inked a strategic cooperation agreement in Hainan island over the weekend, paving the way for reciprocal business opportunities moving forward.
A ceremony at the Haikou International Convention and Exhibition Center took place during the inaugural China International Consumer Products Expo (7-10 May), which began on Friday.
Keith Tam, DFS Vice President, China Strategy & Business Development said: “This milestone ceremony formalises the successful business model between DFS and Shenzhen Duty Free and will act as a ‘North Star’ for subsequent collaborations in the future.
“We look forward to the further growth and success of both our companies, and to working together to provide our cherished customers in Hainan with the most extraordinary luxury retail products and experiences.”
DFS MISSION HILLS PHASE TWO
As reported, DFS and Shenzhen Duty Free unveiled the first phase of the Times DF x DFS Haikou Mission Hills Duty Free Complex earlier this year after Shenzhen Duty Free was awarded a licence to operate the offshore downtown business in December.
The complex, located at one of Hainan’s most popular leisure resorts, will open in phases in the coming years.
Once complete, it will cover 30,000sq m and feature the largest beauty hall in DFS’ global network.
Phase one opened in January and phase two is set to unveil in the coming weeks.
Representatives from DFS Group, Shenzhen Duty Free Group and DFS majority shareholder LVMH Group were present at the signing of the strategic agreement in Hainan, including Andrew Wu, LVMH Group President of Greater China (second left from back) and Han Shengjian, Director of Hainan International Economic Development (third left from back).
Jiangwei You, Secretary of the Group Party Committee, Chairman of the Group Shenzhen State-Owned Duty Free Commodity Group added: “We are proud to continue to support the development of the Hainan Free Trade Port and help to grow the duty free industry in Hainan together with our partner DFS.
“Our strong relationship, formed over many years of mutual trust and understanding, will surely be a driving force in the fast-growing Hainan market.”
Luxury travel retailer DFS has worked with Shenzhen Duty Free, founded in 1980, in the past when both partnered to upgrade Shenzhen/Hong Kong SAR border and airport duty free points of sale.
Source: TR Business