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The French luxury behemoth is thinking about opening Louis Vuitton’s first Chinese duty free location in tourism hotspot, Hainan, two sources told Reuters.
According to the report, executives are mulling over plans for a store in Sanya’s Haitang Bay shopping centre and a partnership with its state-owned operator, China Duty Free Group — one of the many beneficiaries of the country’s post-pandemic domestic tourism boom and the world’s largest travel retailer. A link-up would allow LVMH to tap directly into the mainland’s burgeoning travel retail opportunity, and marks a U-turn for the Louis Vuitton brand, which is known for avoiding mark-downs. At present, shoppers in Hainan can only find beauty and fragrance offerings from LVMH’s top brands.
Louis Vuitton confirmed it is looking at opportunities in Hainan, but denied it was considering any options in the licensed duty free market. China Duty Free Group did not immediately respond to a request for comment.
Editor’s Note: This story was updated on 15th November 2021 to include a statement from Louis Vuitton.
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