What: DFS is planning to open a "seven-star" luxury retail and entertainment destination called DFS Yalong Bay in Hainan, China by 2026.

Why it is important: The development has the potential to attract millions of visitors and contribute to the growth of Hainan's luxury retail market.

The project is set to cover over 1.38 million square feet and offer more than 1,000 luxury brands, including those from LVMH. The site will feature immersive experiences across various categories such as fashion, beauty, watches, fine dining, and more. Hainan has become a popular travel destination during the pandemic, and by 2025 it is expected to become a free-trade port. DFS believes the location could attract over 16 million visitors annually by 2030. The company aims to create a luxurious and entertaining experience that goes beyond traditional luxury retail. They have coined the term "seven-star" to describe the unparalleled level of luxury they intend to offer.

DFS is to open ‘Seven Star’ luxury retail and entertainment destination in Hainan