“DFS Yalong Bay is the latest in a series of commitments we are making in China,” said Liu.

“Yalong Bay area is undoubtedly the most developed luxury natural cove in Sanya, where DFS will provide unparalleled personalised services to our patrons.

“This truly represents a substantial stride in DFS’ global strategy to expand in the China market through a multi-format, multi- channel expansion in the luxury travel retail sector.”

DFS Group expects DFS Yalong Bay to attract over 16 million visitors per year by 2030.

Concluding, DFS Chairman and CEO, Benjamin Vuchot said: “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.

“Upon completion of DFS Yalong Bay, DFS will not only play a positive role in elevating Yalong Bay, but we will also secure Sanya as a top tier luxury destination on the global stage with the brand partners we bring, leveraging our DNA in luxury travel retail.

“Looking forward, we are committed to forging new retail legends in Hainan and throughout China with our strategic partners bringing unforgettable experiences to all domestic and international travellers.

“We are also proud of the contribution we will make to the local economy of Hainan. We expect DFS Yalong Bay to attract over 16 million visitors per year by 2030 and create sizeable economic opportunities within Yalong Bay.”