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Chinese impact boosts DFS resultsChinese impact boosts DFS results
6-Feb-2008
The retailer’s parent company LVMH reports that the increased spending of Chinese shopper’s spurred DFS sales in 2007
LVMH Moët Hennessy-Louis Vuitton has reported strong growth in its Selective Retailing division last year, with 2007 revenue up 7% to €4.18bn ($6.12bn). The company said that DFS Group’s sales were driven by the “increasing impact” of Chinese passengers on the retailer’s business.
The company added in a statement: “DFS's leadership in Asia has been reinforced with its entry into Vietnam and the signing of a concession contract for Mumbai airport in India.”
Selective Retailing, which also includes the beauty chain Sephora, achieved a 10% increase in profits last year, to €439m ($642m). The LVMH group as a whole achieved an 8% increase in revenue and a 12% increase in profit, to €3.6bn ($5.3bn).
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