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FINANCIAL NEWS
Dubai Duty Free sells USD734m in first five months, targets USD1.8b by year-end
17 Jun 2013
(MENAFN) Dubai Duty Free’s executive vice chairman, Colm McLoughlin, stated that the retail operator sold USD734 million in the first five months of this year, and had a sales target of USD1.8 billion by the end of 2013, reported The National.
McLoughlin also said that the airport’s sole retailer hopes to keep up its sales rate by selling to 50 percent of the passengers passing through the hub.
The executive vice chairman added that Dubai International Airport plans on boosting its capacity to 95 million passengers in the coming few years, which will have a positive impact on Dubai Duty Free’s sales. which he expected to reach USD3 bullion per year after the capacity boost.
It is worth noting that in 2012, passengers passing through Abu Dhabi airports spent USD220.33 million on gifts, perfume, cigarettes, and other Duty Free items, raising Duty Free’s revenues 24 percent year on year.
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