Dubai Duty Free, operating in Dubai International Airport, has achieved 51.4 per cent of its goal to bring in $1.4 billion in sales this year.
The target, set in November, marks a 43 per cent year-over-year increase.
From January 1 to June 17, the travel retailer recorded $720 million in sales, marking a 10.45 per cent increase from the same period last year.
The leading category was perfumery, with its sales amounting to $126 million, 17.46 per cent of total sales.
In keeping with consumer demand, Dubai Duty Free is widening its perfumery portfolio, bringing several brand pop-ups to Concourse D.
“We allocated dedicated promotional space to certain brands such as Guerlain, Glenmorangie, Givenchy and Yves Saint Laurent and are highly optimistic that this will help continue our organic growth,” Colm McLoughlin, executive vice chairman and CEO of Dubai Duty Free told TRBusiness.
Dubai Duty Free recorded $976 million in revenue last year, a 40 per cent increase from 2020.
The travel retailer housed an Expo 2020 store from September to March, which raked in $1.5 million in sales.
Total sales throughout the duration of Expo 2020 amounted to $762 million, which Dubai Duty Free attributed to strong passenger growth.
Last year’s spend per customer was $53, an increase of 30.43 per cent from $39 in 2019, prior to the pandemic.
“This is due to a number of factors including pent-up shopping demand by those travelling for the first time since the pandemic and also because of the development of the retail offer in fashion and other areas,” said Mr McLoughlin.
Last year, Dubai Duty Free launched DXB&more, food, beverage and retail delivery service operating within the airport, accessible through its mobile application.
The fourth quarter of last year saw two Christian Dior stores and a Louis Vuitton store open in Concourses A and B.
A Cartier outlet is also set to open this quarter.
Chanel, Louis Vuitton, Dior and Cartier were ranked as the top luxury brands at Dubai Duty Free.
In May, Dubai Duty Free opened a 24-hour Carrefour branch in Terminal 3.
“We continued to invest and progress with brands on their activities throughout the pandemic and now that passenger numbers are coming back, we are seeing the benefits of this in terms of revenue and spending remains elevated,” Mr McLoughlin added.
“Exclusivity is also another key component and we are continuously working with suppliers to have regional first or Dubai Duty Free-only products for our customers.”
Dubai Duty Free is set to continue adding retail spaces in Concourse B and renovate the fashion and electronic retail outlets in Concourse D.
The airport revised its expected footfall for this year, bringing it from 57 million to 58.3 million.