CDFG capitalises on luxury market growth in Hainan

By Charlotte Turner |

As China continues to monitor infection rates closely and implements appropriate measures to control the pandemic, China Duty Free Group President, Charles Chen confirms that the company will hold another ‘Watches and Wonders’ event in Sanya this year, allowing the company to take full advantage of the strong growth momentum for the luxury market in Hainan.

 

For the second consecutive year, Sanya International Duty Free Shopping Complex will host the event from 1 October – 31 December.

 

“We hope to introduce more brands and products loved by Chinese consumers into China’s duty free market and provide consumers with immersive experiences,” Chen told TRBusiness.

 

CDFG President addressing guests at the 2020 Watches and Wonders event in Sanya.

CDFG President, Charles Chen addressing guests at the 2020 Watches and Wonders event in Sanya.

CDFG held the successful Watches and Wonders watches and jewellery exhibition together with the Fondation de la Haute Horlogerie (FHH) from Switzerland, during Golden Week for the country’s National Day holiday last year.

 

‘NEW PURCHASING WAVE’

CDFG said that it drew crowds of shoppers and started ‘a new purchasing wave’ in Sanya.

 

According to the customs statistics, offshore duty free sales in Hainan reached RMB 46.8 billion in the last year, since the implementation of the new policy in July 2020, with a year-on-year increase of 226%. Watches and jewellery registered the second highest sales after perfume and cosmetics.

 

When asked about business potential overseas, Chen said: Under the leadership of the parent company China Tourism Group, we will build an overseas service business platform in the future.

 

“We always adhere to our primary goal of serving Chinese consumers, keeping a foothold in China, expanding in the Asia Pacific market, and constantly implementing the global layout.”

 

CDFG is keen to highlight that while it continues to improve its brand mix and to stage high profile retail events – such as Watches and Wonders – the health and safety of consumers always come first.

 

CDFG said it has strictly implemented the national requirements for pandemic prevention and control and reacted quickly in all aspects of the shopping environment. This includes the ‘placement of disinfection tools, publicity of the pandemic and employees’ own health, so as to build a reliable firewall to ensure the safety of consumers and employees’.

 

The full-length article on CDFG will appear in the Top 10 Operators Report to be published in October.

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