CHINA. DFS Group and its longtime business partner Shenzhen Duty Free Group today signed a strategic agreement to cement their collaboration in Hainan. The agreement paves the way for further mutually beneficial opportunities.
The ceremony took place at the Haikou International Convention and Exhibition Center, timed to coincide with the historic occasion of the first China International Consumer Products Expo (Hainan Expo) taking place in Haikou, Hainan province from 7 to 10 May (click here for our live coverage). It was attended by representatives from both DFS and Shenzhen Duty Free as well as from DFS’ majority shareholder LVMH Group.
“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 future,” said DFS said Vice President, China Strategy & Business Development Keith Tam (pictured seated right in the picture above).
“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.”
“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,” said Jiangwei You（尤江伟）Secretary of the Group Party Committee, Chairman of the Group (集团党委书记、董事长) Shenzhen State-Owned Duty Free Commodity Group.
“Our strong relationship, formed over many years of mutual trust and understanding, will surely be a driving force in the fast-growing Hainan market.”
The partnership between Shenzhen Duty Free and DFS Group was founded in Shenzhen when the two companies worked together to upgrade the Shenzhen/Hong Kong SAR border and airport duty free retail point of sales.
The second phase of the Mission Hills store is being unveiled in a few weeks with expanded product offerings and experiences. The complex, located within one of Hainan’s largest and most popular leisure resorts, will be completed in phases over the next two years, eventually spanning more than 50,000sq m and boasting, among other highlights, the largest Beauty Hall in DFS’ global network.
DFS noted the complementary strengths of the two partners. Shenzhen Duty Free, founded in 1980, possesses a deep and broad understanding of the China domestic market, DFS noted in a press release.
DFS, founded in 1960 by Robert Miller (still a 38.75% shareholder) and Charles Feeney and under LVMH majority ownership since late 1996, brings its relationships with some of the most famous international brands, together with renowned merchandising know-how, digital innovation and world-renowned store design expertise to the alliance, the company said.
