DFS Group And Shenzhen DF To Partner On Duty Free Concession Bid For West Kowloon Mtr Express Rail Link

DFS GROUP AND SHENZHEN DF TO PARTNER ON DUTY FREE CONCESSION BID FOR WEST KOWLOON MTR EXPRESS RAIL LINK

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NOVEMBER 27, 2017 - Leading travel retailer DFS Group Ltd and Shenzhen State-owned Duty-Free Commodity (Group) Co., Ltd. (“Shenzhen DF”) signed a memorandum of understanding (MOU) on October 25, 2017 to partner on the West Kowloon MTR Express Rail Link (XRL) duty free concession tender. The MTR XRL is part of China’s strategic national express rail network and the tender represents the Hong Kong section of Guangzhou-Shenzhen-Hong Kong XRL. The tender is due for submission on December 1, 2017, with the result expected to be announced in early 2018.

Shenzhen DF has more than 30 years of experience in operating border duty free stores between Shenzhen and Hong Kong and currently operates eight border duty free stores in Shenzhen. If successful in their bid, DFS and Shenzhen DF intend to operate the West Kowloon XRL Duty Free Concession in a cohesive manner to provide a seamless duty free retail experience for travelers between China and Hong Kong.

“We are excited by the opportunity to work together with Shenzhen DF to create a cohesive and world-class duty free offer at West Kowloon XRL,” said Ed Brennan, Chairman and Chief Executive Officer of DFS Group. “Shenzhen DF’s expertise in the management of border duty free stores in China can be applied and integrated into the West Kowloon XRL station. This collaboration creates tremendous opportunities to capture the attention of passengers as well as offering additional touch points beyond the scope of a typical border duty free store.”

“Shenzhen DF is delighted to partner with the world’s leading duty free retailer, DFS, in this initiative. West Kowloon XRL is a great achievement in policy breakthrough for Hong Kong, connecting Hong Kong to a vast and growing high-speed rail network in China,” said Chen Shao Qun, Secretary of the Party Committee and Chairman of the Board of Directors, Shenzhen DF. “The West Kowloon XRL is an extremely important Sino-Hong Kong infrastructure project, and this potential collaboration between China-based Shenzhen DF and Hong Kong-based DFS is highly symbolic of the bright and prosperous future ahead.”

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