Dubai Duty Free’s 8-month sales soar to over $1b

Perfumes, liquor, gold, cigarettes & tobacco and electronics retained the top five category positions with perfumes showing an 89 per cent increase amounting to $186 million



Dubai Duty Free’s recent openings of big-name fashion brands including Louis Vuitton, Dior and Cartier led sales in fashion category. — supplied photo
Dubai Duty Free’s recent openings of big-name fashion brands including Louis Vuitton, Dior and Cartier led sales in fashion category. — supplied photo

By Staff Report

Published: Tue 6 Sep 2022, 3:28 PM

Dubai Duty Free has recorded a 104 per cent increase in sales for the first eight months of 2022, with turnover reaching $1.06 billion, placing the operation well on track to reach its target of $1.6 billion by year end.

Perfumes, liquor, gold, cigarettes & tobacco and electronics retained the top five category positions with perfumes showing an 89 per cent increase amounting to $186 million, while liquor, which account for 16 per cent of total sales, reached $168 million.

“We have had a fantastic year so far and I am pleased that we have recovered over 80 per cent of our business from January to August, whereas the passenger recovery is about 67 per cent of 2019 levels. We have now recalled almost 2,000 of our laid off staff and our current staffing levels are getting closer to the pre-Covid figures,” Colm McLoughlin, executive vice-chairman and CEO of Dubai Duty Free, said.

Gold sales increased by 181 per cent over the same period last year with sales amounting to $106 million. Cigarettes & Tobacco reached $98 million and accounted for nine per cent of sales while electronics rose by 79 per cent reaching sales of $81 million.

Another notable increase was seen in the fashion category, which rose from $41 million to $130 million. This increase can be credited to Dubai Duty Free’s recent openings of big-name fashion brands including Louis Vuitton, Dior and Cartier. Along with Chanel and Gucci, they are now among the top five luxury brands at Dubai Duty Free.

Colm McLoughlin, executive vice-chairman and CEO of Dubai Duty Free, said Dubai Duty free is heading into a busy sales period for the last quarter. — Supplied photo
Colm McLoughlin, executive vice-chairman and CEO of Dubai Duty Free, said Dubai Duty free is heading into a busy sales period for the last quarter. — Supplied photo

Meanwhile, online sales reached $29 million and accounted for three per cent of total sales in the first eight months.

“We are heading into a busy sales period for the last quarter and with the upcoming Fifa World Cup starting in November, this will further boost traffic to Al Maktoum International Airport (AMIA) which will handle an additional 30 return flights to Doha during the World Cup period. The opening of the new Fashion outlets has resulted in a big increase in the category and we are also continuing with our ongoing retail developments at Dubai International Airport (DXB). All in all, we are confident that we will reach our target at the end of December, which also marks our 39th anniversary,” added McLoughlin.

Departures sales in DXB and AMIA, which account for 88 per cent of total sales, show an 115 per cent increase over the same period last year reaching $927 million, while Terminal 2 Departure sales are up by 59 per cent.

Meanwhile sales across all Concourses have registered significant increases with overall sales in Concourse B up 35% over last year, mainly due to the luxury boutiques.

Dubai Duty Free will continue to look at its retail improvements over the next 18 months including a full renovation of the Liquor and Tobacco offer in Concourse B.

Meanwhile, rehiring and recruitment at Dubai Duty Free continues bringing the level of employees up to 4,407, which includes 58 new Emirati recruits.

In the meantime, the operation is continuing with its busy events and promotional calendar, which includes the Dubai Duty Free International Weekend taking place at the historic Newbury Racecourse on 16th and 17th September. This will be followed by the 29th edition of the Dubai Duty Free Golf World Cup on 24th and 25th November, the Dubai Duty Free Sailing League Regatta from 30th November to 3rd December and the Dubai Duty Free 39th Anniversary which the operation will celebrate on 20th December.

— muzaffarrizvi@khaleejtimes.com


More news from Business