DFS Group will seek to capitalise on the so-called Hainan ‘seal-off’ and “actively pursue” new opportunities on the island, Chairman and Chief Executive Officer Benjamin Vuchot has told TRBusiness.

Speaking to this publication in an exclusive interview in the TRBusiness May Asia Pacific edition, Vuchot says spend in domestic China and Hainan has remained “resilient”.

“We are the preferred travelling companion to the Chinese retail consumer and will continue our efforts for a global flagship store in Hainan,” he commented.

In addition, with the upcoming official Hainan Island ‘seal off’ in 2025, DFS is actively pursuing new opportunities in Hainan.

Outside China’s customs border

The ‘seal-off’ is the next stage in the development of Hainan’s Free Trade Port (FTP), where the island will be excluded from China’s customs border. 

In practice, it means that the current tax regime will be simplified, with a sales tax only applied at the final B2C stage.

The objective is to further liberalise trade and investment on the island.

In other recent DFS Group developments, the luxury retailer opened its first House of Jewels concept store at T Galleria by DFS, Macau, Shoppes at Four Seasons, and hosted its 11th Masters of Wine and Spirits showcase.

See the May edition of TRBusiness for the full exclusive interview with Benjamin Vuchot, available now in print and online, by clicking here.