The Attr. Net Profit Had Approached RMB 10 Billion, According to CDFG’s Annual Performance Report

According to the 2021 Annual Performance Report released by China Duty Free Group (CDFG) on January 21, during the reporting period, the company’s operating income had grown to RMB 67.67 billion, an increase of 28.65% year-on-year and the net profit attributable to shareholders to RMB 9.592 billion, an increase of 56.23% year-on-year. Besides, its operating profit, total profit and basic earnings per share had all grown by more than 50% over the same period of the previous year.

CDFG attributed the growth to the thriving offshore duty-free business in Hainan and the recovery in China’s tourism sector. In response, the company has kept expanding its duty-free operating areas in Hainan.

Meanwhile, CDFG has been enriching its product categories continuously to satisfy the diverse needs of consumers. In August 2021, Van Cleef & Arpels opened a pop-up store at CDFG Sanya International Duty Free Shopping Complex. Four months later, Van Cleef & Arpels unveiled a retail store there. More brands are reported to enter Hainan, including Givenchy, Brunello Cucinelli, Balmain, Delvaux, Thom Browne and AMI PARIS.

CDFG has also actively embraced new forms of consumption such as pop-up stores. Since 2021, Burberry, Moncler, Max Mara and Salvatore Ferragamo have opened pop-up stores successively in Hainan. As the New Year drew near, Clé de Peau, Lancôme, Sulwhasoo and many other brands were going to open pop-up stores and have invited their brand ambassadors to the event.

| Photo Credit: CDFG