One heavy duty-free year planned for Dubai, sales to pass $2 billion in 2014
Dubai Duty Free is one of the most profitable in the world (Courtesy of Emirates 24/7)
Dubai Duty Free has completed three-decades of retailing excellence and its sales jumped to $1.8 billion in 2013, compared to its sales of the first full year of operations at $20 million, showing a remarkable increase of nearly nine thousands times.
Established on December 20, 1983, the Dubai Duty Free (DDF) continued significant increases in its annual sales every year till now and has become one of the leading airport retailers in the world. It crossed the $100 million mark sales in 1992, touched $500 million in 2004, and crossed $1 billion in 2008. The trend shows DDF will easily cross the $2 billion sales milestone next year with the help of new space at Al Maktoum International Airport.
DDF marked its 30th anniversary in style on December 20 with a new daily sales record of Dh111.88 million as the airport retailer extended up to 30 per cent discounts on a wide range of products. The new daily record represents a 40 per cent increase over last year’s anniversary sales. The growth and development of DDF is due to several factors, not the least of which is the tremendous support and encouragement that it has received from the Government of Dubai.
Over the years, DDF’s retail operation has grown dramatically and in line with the expansion plans of Dubai Airport and the airlines, in particular Emirates.
At present, it operates 26,000sqm of retail space at Dubai International Airport and has recently opened a retail operation of 2,500sqm in Al Maktoum International at Dubai World Central. Dubai World Central will of course be the center of attention when the UAE hosts the World Expo 2020 in Dubai. Future plans include the opening of Concourse D in the coming year which will bring the capacity of Dubai International Airport up to 95 million passengers.
“Of the many milestones over the past three decades, I am most proud of the fact that Dubai Duty Free has developed a reputation for looking after its people. We currently employ 6,000 staff including 44 of the original 100 employees from 1983,” Colm McLoughlin, executive vice chairman of Dubai Duty Free, said in a statement. -
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