China Duty Free Group posted record high revenue at its Sanya store
China Duty Free Group (CDFG) Vice President Charles Chen said that the company posted sales of US$660 million last year. Business grew by an extraordinary +43.6% in 2011, driven by the success of ‘domestic duty free shopping’ on Hainan Island.
For the year from 20 April 2011, CDFG posted sales of over RMB1.5 million (US$238 million) at the Sanya store. Average daily sales reached RMB 4.64 million (US$735,000) with an average 3,857 transactions daily. An average 11,956 daily visitors entered the store during the year.
The overall Chinese travel retail market rose by +33% last year, Chen said.
Last night CDFG President Mr Lu Lu hosted the traditional CDFG dinner in Singapore for key brand partners and, from the travel retail media, The Moodie Report. In a warm and humorous speech, he paid tribute to the strength of partnerships the company enjoys, which have helped the company develop so strongly in recent times.
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