Who took over DFS?
|Type||Subsidiary of LVMH Group|
|Key people||Benjamin Vuchot (Chairman and CEO)|
|Number of employees||9000+|
What happen to DFS Singapore?
After 38 years at Changi, DFS announced on Monday (Aug 26) that it will not retain its duty-free liquor and tobacco concession at the airport. Its stores will close when its lease expires in June next year.
Who owns DFS Galleria?
Who is the founder of DFS?
Who owns the duty free shops in airports?
In 1996 LVMH Moët Hennessy Louis Vuitton acquired the interests of Feeney and two other shareholders and as of 2012 jointly owned DFS with Miller.
Why did DFS close?
Retail experts said DFS Group’s decision to pull out was likely impacted by Singapore’s tighter rules on liquor consumption, more travellers shopping online, and new competition brought in by Jewel Changi Airport. Since April 1, the alcohol duty-free concession has been cut from three litres to two litres.
Why is DFS closing down?
DFS attributed the drop in sales to the closure of stores and pause in deliveries to comply with Covid-19 restrictions for the majority of the final quarter.