DFS Group made “solid progress” in the first half of 2019, particularly in Europe, as majority owner LVMH Moët Hennessy Louis Vuitton announced results for the period.
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The retailer “continued to benefit from strong demand at long-haul destinations in Oceania as well as Venice in Europe and its major markets in Hong Kong and Macao, despite a slowdown observed in recent months”.
LVMH noted that the key shopping periods of Chinese New Year and Golden Week had been “very successful” for DFS, which is co-owned by LVMH and Co-Founder Robert Miller.
On the retailer’s progress and outlook, LVMH said: “Through a logistics agreement with Shenzhen Duty Free, DFS made its debut in the Chinese market. Several ‘mini-programmes’ for travellers were launched on the WeChat social network and its online product offering expanded rapidly.”
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“After appearances in Venice, Chengdu, Beijing and Macao in 2018, DFS’s Masters of Time exhibition, featuring a prestigious collection of watches and jewellery, opened in Sydney and Hawaii,” LVMH continued.
(Source: Moodie Davitt Report)