Dubai Duty Free on Track to Hit $2 Billion Sales Milestone in 2024

Dubai Duty Free has reported impressive sales of $1.94 billion up to November 2024, putting the airport retailer on course to surpass its $2 billion annual target. November alone saw sales of $205.67 million, marking it as the fifth-best month in the company’s history.

The year’s highest daily sales of $8.46 million were recorded on November 30, with November 29 trailing closely at $8.24 million.

Ramesh Cidambi, Managing Director of Dubai Duty Free, expressed satisfaction with the robust performance, particularly given challenging market conditions.

“November’s sales were achieved despite tough trading conditions, including lower boutique sales for major fashion brands and ongoing refurbishment projects in Arrival shops,” he stated. “Our team’s relentless focus on driving sales has significantly closed the gap between budgeted and actual passenger spend.”

Key product categories also delivered strong performances. Perfume sales topped $362 million, a 10% rise over 2023 figures, while gold sales reached $194.57 million, reflecting a 2% year-on-year increase. Electronics ranked fifth among top categories, generating $134 million in sales.

Looking ahead, Cidambi anticipates December will bring further success during the holiday season.

"Thanks to the continuous effort of our entire team, I look forward to closing the year with excellent results,"

he added.

With December traditionally being a high-performing month, Dubai Duty Free is poised to conclude the year on a high note, reinforcing its position as one of the world’s leading airport retailers.

News Source: Emirates News Agency