There will be “no change to staff count” at the seven casino-resort stores in Macau of luxury retailer DFS Group to be acquired by China Tourism Group Duty Free Corp Ltd (CTG Duty-Free). That is according to an emailed reply from DFS to GGRAsia in response to a Thursday enquiry.
DFS declined to say how many people currently work at the Macau outlets.
But it did state: “Store roles in the Macau stores in this transaction will remain in place, with no change to staff count.”
DFS added: “Staff will continue to be employed by the local entity, with the holding company being changed from DFS to CDF [of CTG Duty-Free].
“We have been in close touch with our brand partners and expect to maintain operational continuity,” DFS also noted.
In August 2024, DFS had told local Chinese-language news outlet, AllIn Media, the retailer had seen the exit of “5 percent” of its then-workforce in Macau. That had coincided with a downturn in luxury retail sales in the city.
CTG Duty-Free – a Chinese state-owned travel retailing business listed in Shanghai and Hong Kong – announced earlier this week that it would acquire DFS Group’s businesses in Macau and Hong Kong, as well as intangible assets encompassing the DFS brand, for exclusive use in the Greater China region.
The acquisition price for the deal – expected to close in around two months’ time – would “not exceed US$395 million”, according to a filing CTG Duty-Free lodged with the Hong Kong bourse on Tuesday.
The seven Macau DFS outlets involved in the deal are all within Macau casino resorts.
DFS confirmed in its Thursday email to GGRAsia, the names of the Macau outlets. They include: DFS Macau, Shoppes at Londoner; DFS Macau, Galaxy (Beauty) – at Galaxy Macau -; and DFS Macau, MGM Cotai (pictured).
The others are DFS Macau, MGM (Beauty) – at MGM Macau -; DFS Macau, Wynn Palace (Beauty); DFS Macau, Shoppes at Four Seasons; and DFS Macau, Studio City.
In the announcement of the acquisition deal, CTG Duty-Free said the move would help expand its service network across the Guangdong-Hong Kong-Macau Greater Bay Area.
CTG Duty-Free currently has three shops of its own in Macau.
According to the latter firm’s corporate materials they include“cdf Macau Grand Lisboa Palace Shop”, at SJM Holdings Ltd’s Cotai casino resort. The shop is described as the Chinese retailer’s “flagship store” in Macau, spanning 7,500 square metres (80,729 sq. feet).
The other two are respectively located at the “M8” shopping mall on Macau peninsula, and at Macau International Airport in Taipa.
