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Dubai Duty Free (DDF) is the company responsible for duty-free selling operations at Dubai International Airport and Al Maktoum International Airport. [1] Founded in December 1983, DDF recorded first-year sales of US$20 million. In 2023, its 40th anniversary year, sales turnover reached US $2.16 billion, eclipsing pre-pandemic revenues.
Following its purchase of 10.1% stake in 2008 for $19.3 million [8] and another 11.2% stake for RM70.9 million in 2010, [9] SEEK Limited, the Australian internet job recruitment company made a complete takeover in 2014 for RM 1.73 billion [10] [11] together with co-investors, News Corp, Tiger Global and Macquarie Capital.
Dubai Duty Free – the company responsible for the duty-free operations at Dubai International Airport. DDF became the largest airport retailer in the world in terms of sales in 2012. [ 6 ] DDF represents over 5% of global duty-free sales, [ 7 ] generating 2014 revenues of $1.91 billion [ 8 ] and 2016 revenues of $1.85 billion. [ 9 ]
This trend continued with the acquisition of LATAM's onboard duty free business in 2013. [9] In 2015 the company launched a travel retail website, www.dutyfreeonboard.com, extending the inflight duty free program further; passengers could preorder duty free products and have them delivered in the US or to their flight.
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In 1960, American entrepreneurs Charles Feeney [5] and Robert Warren Miller [6] founded Tourists International, which later became Duty Free Shoppers (DFS), in Hong Kong. In 1962, two DFS stores were opened at the international airports in Hong Kong and Honolulu, the first duty-free shop in the United States. [7]
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The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: [2] 100% foreign ownership of the enterprise