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DDF 9-month sales soar 12% to Dh4.65b

Category wise, perfumes, liquor and gold retained the top three positions showing strong growth. — Supplied photo

The world’s largest single-airport retailer — Dubai Duty Free, (DDF) — on Thursday reported a 12 per cent sales surge to Dh4.65 billion in the first nine months of this year, and said it was right on track to achieve year-end sales of Dh6.6 billion.

DDF, one the world’s most sought-after travel retailers, said in a statement that strong growth was recorded across the Terminals, with sales in Terminal 3 rising by 17 per cent year- to- date to Dhs2.94 billion and accounting for 63 per cent of its total turnover.

Terminal 2, which accounts for 7.6 per cent of turnover, saw sales rise by 22 per cent to Dh352 million year-to-date. Terminal 1, which accounts for 28 per cent of total turnover recorded nine-month sales of Dhs1.3 billion.

Colm McLoughlin honoured at New York Ball NEW YORK — Colm McLoughlin, the executive vice chairman of Dubai Duty Free, was presented with the Sir Michael Smurfit Business Achievement Award at the 25th annual American Celtic Ball, held in the Pierre Hotel in New York. Organised by the Irish Chamber of Commerce USA (ICCUSA), the awards evening attracted over 200 guests for the event which recognised the business and humanitarian achievements made by Irish nationals living both in Ireland and overseas. Colm McLoughlin was recognized for his dynamic leadership at the helm of Dubai Duty Free for the past 30 years during which the business grew from an annual turnover of $20 million to an expected $1.8 billion this year. McLoughlin, a former general manager at Shannon Duty Free, was one of the original team of ten assigned by AerRianta to set up the airport retail operation at the request of the Dubai Aviation Authority back in 1983. On accepting the Sir Michael Smurfit Business Achievement award, McLoughlin thanked both the ICCUSA and Sir Michael Smurfit. — business@khaleejtimes.com

Colm McLoughlin, Executive Vice Chairman of Dubai Duty Free, said DDF was having a terrific year in terms of sales. “We are looking forward to ending this 30th anniversary year on a high note.”

He said Concourse A, which opened in January 2013, has been a great and much needed addition to Terminal 3 and the expansion programme in Terminal 2 is coming to a conclusion shortly. “We will embark on a renovation programme in Terminal 1 early next year and of course we are opening a 2,500 square metre retail space at Al Maktoum International Airport later this month, so things are keeping us busy. ”

Arrivals sales across all three Terminals rose by 14 per cent to reach Dh457 million with Arrivals now accounting for 10 per cent of DDF sales.

“Category wise, perfumes, liquor and gold retained the top three positions with perfumes in particular showing strong growth with a sales increase of 17 per cent to Dh738 million for the first nine months of the year, while gold sales rose by 9 per cent to reach Dh454 million.

Other high sellers included the watches and clocks category which rose by 17 per cent, Cosmetics, up by 17 per cent and Delicatessen increased by 13 per cent.

DDF has seen its revenues rise steadily over the years as Dubai has grown as an international hub for long-distance air travel.

In July DDF said that it made about $874 million of sales in the first half of the year, up 13 per cent on the same 2012 period. The sales target for the full year is $1.8 billion, McLoughlin said, but DDF is hoping to raise that figure to $3 billion in a few years after new space in Concourse D opens.

According to McLoughlin, the company is adapting its offerings rapidly as its mix of customers change, something it has done continually over the years.

In September, DDF picked three banks to arrange a $750 million loan to fund the company’s expansion at the world’s second-busiest airport and improve its capital structure. The new facility came three months after DDF, negotiated a reduction in pricing on a $1.75 billion loan raised in 2012.

— issacjohn@khaleejtimes.com