DFS Group – Wikipedia

For early uses, see DFS DFS ( “ DFS Group “ ) is a Hong Kong-based travel retailer of luxury products. Established in 1960, its network consists of over 420 locations, including duty-free stores in 12 major airports and 23 downtown Galleria stores, deoxyadenosine monophosphate well as affiliate and haunt locations. [ 2 ] [ 3 ] It is privately held and majority owned by the lavishness accumulate Moët Hennessy Louis Vuitton ( LVMH ), aboard DFS co-founder and stockholder Robert Warren Miller. As of January 11, 1997, DFS Group operates as a subsidiary company of LVMH. [ 4 ] DFS is headquartered in Hong Kong SAR and has offices in Australia, Cambodia, mainland China, France, Indonesia, Italy, Japan, Macau, New Zealand, Singapore, United Arab Emirates, United States of America and Vietnam. DFS Group employs over 5,000 people, operating in 14 countries cosmopolitan. In 2017, about 160 million travelers visited DFS stores. [ 5 ]

history [edit ]

Beginnings [edit ]

In 1960, American entrepreneurs Charles Feeney [ 6 ] and Robert Warren Miller [ 7 ] founded Tourists International, which former became Duty Free Shoppers ( DFS ), in Hong Kong. Minority owners included Alan Parker with a 20 % bet on, [ 8 ] and Anthony M. Pilaro who held 2.5 %. [ 8 ] The entrepreneurs anticipated the growing spend ability of military servicemen arsenic well as the ascend of external travelers from Asia, following huge improvements in external air locomotion after World War II. In 1962, two DFS stores were opened at the international airports in Hong Kong and Honolulu, the first duty-free patronize in the United States. [ 9 ]

expansion and re-branding [edit ]

In the 1960s and 1970s DFS Group significantly expanded their process in Eurasia and North America. DFS capitalized on the rising wave of asian tourists who began to travel foster overseas, opening stores in international airports and late in business district locations where travelers have their purchases delivered before passing. [ 10 ] In 1968, DFS opened its foremost downtown duty-free memory in Kowloon, Hong Kong, followed concisely thereafter by Honolulu and finally expanding to 14 locations all over the earth. [ 11 ] In 2005, branded halls opened in Okinawa, Japan, launching a new shop-in-shop concept for DFS Gallerias. [ 12 ] In 2010, DFS University was established for enhancing the expertness of its sales associates. In 2013 DFS reached 420 locations cosmopolitan and undertook a major stigmatization enterprise setting the stage for the future generation of expansion. It re-branded its downtown Galleria Stores “ T Galleria ” and moved to a strategy of localization for airports, working with local suppliers to increase its mix of “ destination ” products. [ 13 ] [ 2 ] In 2015 DFS opened its beginning transformational wines and spirits duplex storehouse at Singapore Changi Airport, including a long prevention by Raffles. [ 14 ] In the same year, it besides launched T Galleria Beauty by DFS, a standalone smasher concept store in Hong Kong and Macau. [ 15 ] In 2016 DFS expanded its operations, opening T Galleria Angkor in Siem Reap, Cambodia, a importantly widen space at T Galleria by DFS, City of Dreams in Macau, [ 16 ] [ 17 ] and its first european memory, T Fondaco dei Tedeschi in Venice, Italy. [ 18 ] In 2017 it announced plans to open in Paris in 2020 within the animate La Samaritaine building complex. [ 19 ] In January 2021, Benjamin Vuchot returned to DFS as Chairman and CEO after three years as President of Sephora Asia. [ 20 ] Both DFS and Sephora are businesses under LVMH ‘s Selective Retailing division. [ 21 ] In January 2021, DFS opened its beginning downtown duty-free shop in Hainan Island, China, in partnership with Shenzhen Duty Free Group. [ 22 ]

Within a few months, DFS besides announced that it would open two newly Galleria stores in Oceania by the end of 2022 : one in Brisbane, Australia, [ 23 ] and another in Queenstown, New Zealand. [ 24 ] In June 2021, despite the tourism downturn caused by the COVID-19 pandemic, DFS opened its most significant and ambitious shop to date, Samaritaine Paris Pont-Neuf in the heart of the french capital. [ 25 ] The 150-year-old build up, which was meticulously restored over 16 years, was inaugurated on June 21 by french President Emmanuel Macron and LVMH Group head Bernard Arnault. [ 26 ]

skill [edit ]

In 1996, LVMH acquired the majority plowshare of DFS Group, [ 27 ] buying out partners Feeney, Parker, and Pilaro and setting a newly stress on the unite elements of travel and lavishness. [ 28 ] It developed a trade strategy based around five core “ pillars ” – Beauty and Fragrances ; Fashion and Accessories ; Watches and Jewelry ; Spirits, Wine and Tobacco ; and Food and Gifts – and a newly tagline, “ The Traveler ‘s Luxury Department Store ”. It besides created an annual “ Masters Series ”, showcasing the best products across all its categories and convening leading post representatives, top customers, media and industry analysts in a celebration of luxury. In 2004, the company moved its headquarters to Hong Kong from San Francisco, California as part of a bodied restructure .

Locations [edit ]

DFS Group operates approximately 420 duty-free boutiques at 12 external airports, 23 business district Galleria stores and respective recourse locations around the populace. [ 29 ] [ 30 ]

Awards and recognition [edit ]

In 2017, DFS retained the San Francisco International Airport retail concession for a far 14 years. [ 34 ] In 2015 DFS Group was awarded “ Best technology Platform ” under the Best Treasury and Finance Strategies in Asia Pacific category at The Corporate Treasurer Awards. [ 35 ] In 2017 it received the 19th duty-free News International ( DFNI ) Asia/Pacific Awards for Travel-Retail Excellence. [ 36 ]

See besides [edit ]

References [edit ]

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