DFS Yalong Bay involves an “unprecedented” investment into a 128,000sq m site, attracting over 1,000 luxury brands including maisons from the retailer’s majority owner LVMH Group once fully operational.
The goal is for DFS Yalong Bay to become Sanya’s premier destination for luxury shopping, world-class accommodation, dining and entertainment, serving international and domestic tourists with innovative, renowned luxury brands and experiences.
“DFS Yalong Bay is an incredibly exciting development for DFS, and I believe for the Chinese travel industry,” said DFS Chairman and CEO, Benjamin Vuchot.
“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 maximizing both domestic and international consumption.”
Vuchot added, “With Hainan on course to become one of the world’s largest luxury retail markets in the next five years, DFS Yalong Bay will be a critical addition to DFS’ global portfolio.
DFS China President China Nancy Liu confirmed the DFS Yalong Bay development represents a core component of the company’s long-term expansion and investment strategy in the China market.
“DFS Yalong Bay is the latest in a series of commitments we are making in China,” she said. “Yalong Bay area is undoubtedly the most developed luxury natural cove in Sanya, where DFS will provide unparalleled personalized services to our patrons.
“This truly represents a substantial stride in DFS’ global strategy to expand in the China market through a multi-format, multichannel expansion in the luxury travel retail sector.”
Vuchot added, “This DFS announcement today is the clearest commitment we can make to the long-term development of Sanya and Hainan and the entire Chinese tourism market.”