DFS plans second downtown Singapore store
Travel retailer DFS plans to expand its presence in Singapore, reacting to the rising affluence of Asian consumers.
DFS plans to open a second downtown store in the city-state in addition to its four-storey store in Orchard. It has not revealed the exact location of the new store.
The company is bullish about its expansion because of the increasing number of foreign travellers in Singapore, especially Chinese, whose number are expected to double to 200 million over the next 10 years.
“The Chinese are a big part of our high-growth story. They are spending more and want better services and shopping experiences,” said chairman and CEO Philippe Schaus.
Duty free stores face competition from shopping malls which are increasing in number, however, Schaus said they’re not daunted by it, saying not everyone wants to shop in a gigantic mall.
DFS also operates duty free stores and luxury boutiques at Changi Airport.