DFS is set to launch its inaugural world-class luxury retail and entertainment destination, known as DFS Yalong Bay, in the city of Sanya in Hainan. The establishment is expected to open its doors by the year 2026 and aims to redefine opulence and sophistication with its seven-star status.
The new addition is testament to forecasts that Hainan is on the way to becoming “one of the world’s largest luxury retail markets in the next five years,” noted Benjamin Vuchot, DFS chairman and CEO.
DFS Yalong Bay will be a “critical addition” to the group’s global portfolio, Vuchot added.
SEE ALSO: Stella McCartney to make Shanghai Fashion Week debut
Spanning an expansive area of 128,000 square metres, DFS Yalong Bay will showcase an impressive collection of over 1,000 luxury brands, among them maisons from the LVMH Group, offering a wide selection of elevated experiences across various categories.
Other brands include fashion and apparel, beauty and fragrances, watches and jewellery, wines and spirits, as well as an array of options for fine dining.
“DFS Yalong Bay is an incredibly exciting development for DFS, and I believe for the Chinese travel industry,” said Vuchot, speaking from Cannes, France.
“Think the glamour and experience of Shanghai, Macau, Dubai, and Las Vegas, now add Sanya to these dream destinations. Yalong Bay represents a key entry point to Hainan which the China government plans to turn into the world’s largest free-trade port.
“In addition to this strong policy, Hainan also offers luxurious resorts, beautiful sandy white beaches and high-end medical facilities. Hence, we believe that Hainan is well-poised to become one of the fastest growing luxury markets in the world maximising both domestic and international consumption.”
With the development of DFS Yalong Bay, DFS Group aims to take the lead and expand its market share in the luxury sector of Hainan, specifically in fashion, beauty and fragrances, as well as watches and jewellery.
Nancy Liu, president of DFS China, affirmed that the opening of DFS Yalong Bay as a central element of DFS’ long-term expansion and investment strategy in the Chinese market.
SEE ALSO: Hong Kong retail sales surge in August on uptick in tourism
Vuchot said, “Looking forward, we are committed to forging new retail legends in Hainan and throughout China with our strategic partners bringing unforgettable experiences to all domestic and international travellers. We are also proud of the contribution we will make to the local economy of Hainan. We expect DFS Yalong Bay to attract over 16 million visitors per year by 2030 and create sizeable economic opportunities within Yalong Bay.”