Perfume sales propel Dubai Duty Free to $2bn 2024 target

Dubai Duty Free (DDF) recorded sales of AED7.13 billion ($1.94 billion) in the first 11 months of 2024, as it closes in on the $2 billion annual target.

The airport retailer reported sales of $205.7 million last month, marking the fifth-best month ever, propelled mainly by perfume sales, the UAE state-run Wam news agency reported.

Historically, December 2023 holds the record for the highest sales of $219.9 million due to DDF’s anniversary celebration.  

November 30 set a daily sales record this year of $8.46 million, with November 29 close behind as the third-highest day of the year, generating $8.24 million.

DDF managing director Ramesh Cidambi said that the sales performance was strong in November despite tough trading conditions, including lower sales in boutiques of major fashion brands and refurbishment projects in shops in all three arrival terminals.

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Perfume sales reached $362 million, a 10 percent increase over 2023. Gold sales increased by 2 percent year on year at $194.57 million, while electronics ranked fifth with sales of $134 million.

In November, Dubai Airports CEO Paul Griffiths said that passenger traffic is expected to grow 5.7 percent in 2024 compared to last year, with more tourists stopping off than ever before. 

The airport received 68.6 million passengers in the first nine months of the year, a 6.3 percent increase year on year.

The world’s busiest international airport handled 327,700 flight movements, up 6.4 percent annually.