The FINANCIAL — According to Gulfnews, as the year draws to a close, the region's largest travel retailer Dubai Duty Free is anticipating a 25 per cent increase in revenue, with its 2008 sales expected to touch $1.1 billion (Dh3.96 billion) by December 24, compared to $880 million (Dh3.175 billion) recorded last year.
The growth in revenue will be driven primarily by Dubai Duty Free's popular items, which include perfumes, gold and cigarettes – the most sought-after products by travellers at the Dubai International Airport.
In its year-end review, Dubai Duty Free noted that 2008 has been another successful year, as it received several accolades from various organisations and witnessed its sales growing steadily throughout the 12-month period.
One of the highlights of the retailer's operations was its 25th anniversary celebration last December 20, when travellers were on a massive spending spree and duty-free goods were flying off the shelves.
During that day, the retailer offered 25 per cent discount on items, and transactions rocketed to 130,000, more than double the 52,000 average daily transactions recorded in 2007, while sales reached an unprecedented $20 million.
"The record-breaking figure also equals the operation's first full year of sales in 1984," the retailer said in its year-end review.
In January this year, the retailer announced it had achieved record sales of $880 million, representing a 23 per cent increase over the previous year.
In April, Dubai Duty Free reported that its first quarter sales reached $266 million, a 31 per cent increase over the same period in 2007.
During the same period, perfume sales ballooned to more than $37 million, a 30 per cent increase over the first quarter last year.
Sales expanded further to reach $537 million in July, representing a 31 per cent increase over the same period last year.
Shortly before Dubai Duty Free acquired over 10,000 square metres of retail space at the Emirates Terminal 3, sales increased further to reach $781 million in October.
As the retailer geared up for the opening of Concourse 2 and Terminal 3 of the Dubai International Airport, staffing levels also grew to 3,000 in April.
Among the accolades it received this year were the "Middle East Travel Retailer of the Year" at the DFNI-Asia Pacific Awards in Singapore and "Best Duty Free Shopping" at the Business Traveller Middle East Awards. It was also awarded with "Superbrand" status for the third time in March by the Superbrands Council in the UAE.
In April, Dubai Duty Free reported that its first quarter sales reached $266 million, a 31 per cent increase over the same period in 2007. During the same period, perfume sales ballooned to more than $37 million.