Hong Kong-based DFS Group plans to open its first European store in 2016.

The luxury travel retailer, majority owned by the world’s largest luxury conglomerate Moët Hennessy Louis Vuitton (LVMH), is currently seeking prime locations in countries including Switzerland, Italy and France.

The company says the European stores are aimed at Chinese consumers frequently travelling to the continent.

According to shopping tourism company Global Blue, the overseas tax free shopping by Chinese residents increased by around 20 per cent in the first quarter.

“We invest a lot in building awareness among mainland Chinese at our shops here in Hong Kong and in other parts of the world. Chinese consumers will continue to account for more than half of our revenue in several years to come,” said COO Michael Schriver.

Established in Hong Kong in 1960, DFS Group offers a selection of products from over 700 of the most desired brands through 420 locations on three continents. Its network consists of duty free stores located in 18 major global airports, 14 downtown Galleria stores, as well as affiliate and resort locations. While headquartered in Hong Kong, it has offices in Hawaii, Los Angeles, Shanghai, Singapore and Tokyo.