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Wed 2 Nov 2011 03:46 PM

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DDF on track for $1.45bn sales by year-end

World’s largest airport retailer posts 16% rise in sales to October

DDF on track for $1.45bn sales by year-end
Dubai Duty Free is the worlds largest airport retailer

Dubai
Duty Free has reported a 16 percent increase in sales for the first ten months
of 2011 putting it on track to achieve total sales of $1.45bn by the year-end. 

Sales
for the ten months ending October 31 reached $1.16bn with perfume sales
accounting for 14.6 percent of the total sales, the firm said in a statement on
Wednesday.

“2011 is
shaping up to be a record year and we have seen significant increases across
the top categories and in the sale of premium goods such as luxury watches and
fashion items,” said Colm McLoughlin, executive vice chairman of Dubai Duty
Free.

“We have
also seen electronics grow significantly, driven by the launch of new desirable
products featuring the very latest technology.”

Passengers
handled at Dubai Airports increased 7.8 percent January to September, helped by
a boost in tourist and business traffic and the emirate’s grow as an
international hub for traffic.

Dubai
ruler Sheikh Mohammed Bin Rashid Al Maktoum in July approved a $7.8bn expansion
plan for the emirate’s airports. Dubai International, home to the world’s
largest airline Emirates, is looking to boost its capacity from 60 million
travelers a year to 75 million in 2012 and 90 million by 2018. 

Cash
flow from Dubai Airports and Dubai Duty Free makes paying for the expansion
“very manageable,” Paul Griffiths, chief executive officer of Dubai Airports
said in July.

Duty
free sales across all three terminals for both departing and arriving
passengers increased during the first ten months. Sales in Terminal 2 rose 36
percent compared to 14 percent in Terminal 1 and 15 percent in Terminal 3, said
Dubai Duty Free.

Perfume accounted for $169m of sales followed by gold at
$133m and electronics at $91m, said the retailer.

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