USA. Leading luxury travel retailer DFS Group has extended its lease at Waikiki Galleria Tower, owned by an affiliate of Hawaiʻi-based investment firm BlackSand Capital, for a further 18 years. The building is home to T Galleria by DFS, Hawaiʻi.
DFS said it plans to make significant capital investments into the store over the next few years, “providing a reimagined luxury shopping experience and welcoming returning international travellers to Hawaiʻi”.
DFS has been present in the state for more than 60 years, and on Kalakaua Avenue for more than 20 years. T Galleria by DFS suspended operations in March 2020 due to the COVID-19 pandemic and plans to reopen in phases as renovations are completed.
DFS and BlackSand Capital said they plan to deliver phased investments in the coming years to “cement Kalakaua Avenue’s position as Honolulu’s preeminent retail and tourist destination”.
Waikiki is an attractive destination for domestic and international visitors due to its natural scenery, rich cultural heritage, gentle year-round climate, and high-quality shopping, entertainment, and dining options. Kalakaua Avenue is the primary thoroughfare that runs through the heart of Waikiki and is home to flagship stores for many leading retailers.
“I am excited to reaffirm our presence in this vibrant and resilient destination, and to continue to provide visitors to Waikiki with world-class luxury products in an exceptional retail setting,” said DFS Group Chairman and CEO Benjamin Vuchot.
“Kalakaua is one of the best retail corridors in the country and represents enormous potential for our local economy. Having DFS as an anchor tenant in Waikiki Galleria Tower will support our plans to create long-term jobs, contribute to the local economy and tax base, and continue smart growth of travel and tourism in Hawai’i,” added BlackSand Capital Chairman and CEO B.J. Kobayashi.
With the recent loosening of international travel restrictions to Hawaiʻi, the airline industry is expecting strong demand from international travellers as flight services are restored.
DFS opened its first Hawaiʻi airport operations in 1962 at Honolulu International Airport, becoming the first duty free shop in the USA. DFS opened its first downtown store in Honolulu in 1968 followed by its flagship store in Waikiki Square in 1975. The retailer opened its first Kahului Airport store in Maui in 1997.
