Luxury travel retailer DFS Group is planning to open DFS Yalong Bay, a retail and entertainment destination, in Sanya, Hainan, China by 2026. The 1.38 million-square-foot venue will feature more than 1,000 high-end brands, including iconic maisons from DFS Group’s majority owner LVMH Group, with immersive concepts across categories including fashion, beauty, fragrances, jewelry, wines and spirits, fine dining, food and beverages.
An estimated 16 million visitors per year are expected at the site by 2030, which is forecast to create sizeable economic opportunities in Yalong Bay, according to DFS Group. China has plans to make Hainan a tax-free zone, and this mall will be DFS Group’s first property in mainland China (the company operates venues in Hong Kong and Macau).
“DFS Yalong Bay is an incredibly exciting development for DFS, and I believe for the Chinese travel industry,” said Benjamin Vuchot, Chairman and CEO of DFS in a statement. “Think the glamour and experience of Shanghai, Macau, Dubai and Las Vegas: now add Sanya to these dream destinations. 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 that he expected tourism to grow significantly “as investments in passenger airport capacity, high speed roads and port capacity will also boost tourism potential in Hainan. DFS Yalong Bay will be the only luxury property within Yalong Bay.”