US$2 billion in sight – Dubai Duty Free closes in on all-time annual sales high

Dubai Duty Free’s perfumes & cosmetics store in Concourse C. Could this be where the sale takes place that tips the retailer’s turnover over the magical US$2 billion mark?

Timeline to US$2 billion (AED7.3 billion)

29 December, 00.15 (UAE Time): AED7,299,395,390 (US$1,999,834,353.42)

28 December, 23.59 (UAE Time): AED7,299,067,343 (US$1,999,744,477.53)

28 December, 23.45 (UAE Time): AED7,298,841,593 (US$1,999,682,628.22)

28 December, 23.00 (UAE Time): AED 7,298,227,063 (US$1,999,514,263.84)

28 December, 22.30 (UAE Time): AED7,297,850,336 (US$1,999,411,050.96)

28 December, 21.10 (UAE Time): AED7,296,675,394 (US$1,999,089,149.04)

28 December, 20.10 (UAE Time): AED7,295,685,061 (US$1,998,817,824.93)

28 December, 19.10 (UAE Time): AED7,294,723,104 (US$1,998,554,275.07)

28 December, 18.10 (UAE Time): AED7,294,088,029 (US$1,998,380,281.92)

28 December, 15.09 (UAE Time): AED7,292,019,129 (US$1,997,813,460)

UAE. Dubai Duty Free is closing in fast on the magical US$2 billion sales mark for 2018 – an all-time record for the retailer founded in 1983, which recorded annual sales of just US$20 million in its first full-year’s trading.

As of 23.45 this evening (28 December) Dubai time, Dubai Duty Free had reached AED7,298,841,593 (US$1,999,682,628.22), tantalisingly close to the breakthrough number (see full timeline below).

As reported (see yesterday’s full story below), The Moodie Davitt Report has teamed up with Dubai Duty Free to offer readers the chance to win US$1 million (yes it’s true) in a special US$2 billion countdown competition.

To have the chance to win a AED1,000 (US$278) ticket in Dubai Duty Free’s Millennium Millionaire draw, offering the opportunity (not the guarantee) to win US$1 million, readers simply have to guess the time (hour and minute) that the retailer breaks through the US$2 billion mark. The closest wins.

We were overwhelmed with entries from all sectors of the travel retail and airport sectors (and from others as well – entry, as stated, is limited to those working in the industry). The competition closes at noon Dubai time today, 28 December.

We’re bringing you live and exclusive regular updates of the latest sales level. When Dubai Duty Free hits the landmark figure, we’ll announce it.

Timeline to US$2 billion (AED7.3 billion)

29 December, 00.15 (UAE Time): AED7,299,395,390 (US$1,999,834,353.42)

28 December, 23.59 (UAE Time): AED7,299,067,343 (US$1,999,744,477.53)

28 December, 23.45 (UAE Time): AED7,298,841,593 (US$1,999,682,628.22)

28 December, 23.00 (UAE Time): AED 7,298,227,063 (US$1,999,514,263.84)

28 December, 22.30 (UAE Time): AED7,297,850,336 (US$1,999,411,050.96)

28 December, 21.10 (UAE Time): AED7,296,675,394 (US$1,999,089,149.04)

28 December, 20.10 (UAE Time): AED7,295,685,061 (US$1998817824.93)

28 December, 19.10 (UAE Time): AED7,294,723,104 (US$1,998,554,275.07)

28 December, 18.10 (UAE Time): AED7,294,088,029 (US$1,998,380,281.92)

28 December, 15.09 (UAE Time): AED7,292,019,129 (US$1,997,813,460)

28 December, 13.10 (UAE Time): AED7,289,801,116 (US$1,997,205,785.21)

28 December, 12.10 (UAE Time): AED7,288,809,028 (US$1,996,933,980.27)

28 December, 10.10 (UAE Time): AED7,280,082,360 (US$1,996,579,930.14)

28 December, 08.10 (UAE Time): AED7,285,039,541 (US$1,995,901,244.11

28 December, 06.10 (UAE Time): AED7,282,376,091 (US$1,995,171531.78)

28 December, 04.10 (UAE Time): AED7,281,147,278 (US$1,994,834,870.68)

28 December, 02.10 (UAE Time): AED7,280,082,360 (US$1,994,543,112.33)

28 December, 00.10 (UAE Time): AED 7,277,462,360 (US$1,993,825,304.11)

27 December, 22.10 (UAE Time): AED 7,275,615,100 (US$1,993,319,205.48)

27 December, 20.09 (UAE Time): AED 7,273,435,765 (US$1,992,722,127.40)

27 December, 18.08 (UAE Time): AED7,271,056,764

27 December, 16.09 (UAE Time): AED7,269,928,452

EARLIER STORY (27/12/2018)

UAE. Sometime in the next two to three days, Dubai Duty Free will break through the magical US$2 billion annual sales barrier for the first time. That will mark a stunning 2018 performance by the world’s leading single-airport, single-retailer business in its 35th anniversary year.

To mark the achievement, The Moodie Davitt Report has teamed up with Dubai Duty Free to offer readers the chance to win US$1 million (yes it’s true) in a special US$2 billion countdown competition. What a way to join the celebrations and end the year.

From now, 27 December 2018 16.09 Dubai time, we’re going to bring you regular updates of the latest sales level. When Dubai Duty Free hits the landmark figure, we’ll announce it.

To have the chance to win a AED1,000 (US$278) ticket in Dubai Duty Free’s Millennium Millionaire draw, offering the opportunity (not the guarantee) to win US$1 million, you simply have to guess the time (hour and minute) that the retailer breaks through the US$2 billion mark. The closest wins.

Will Colm McLoughlin and Ramesh Cidambi (pictured with Sinead el Sibai and Salah Tahlak) make you a millionaire?

To help you along, current estimates are that the record-breaking feat will be achieved sometime between Friday evening 28 December and Saturday morning 29 December. But knowing Dubai Duty Free it could come sooner. My guess, for what it is worth, is 22.47 on 28 December.

Based on a conversion rate of AED3.65 to a Dollar, Dubai Duty Free needs to reach AED7.3 billion in local currency to hit the US$2 billion mark.

Entries close at noon Dubai time on 28 December. Send your estimate (one per reader only) by e-mail to Martin@MoodieDavittReport.com headed ‘Dubai Duty Free Countdown to US$2 billion Competition’ by the deadline. Entry limited to those working in the travel retail and airport sectors.

Timeline to US$2 billion (AED7.3 billion)

28 December, 23.59 (UAE Time): AED7,299,067,343 (US$1,999,744,477.53)

28 December, 23.45 (UAE Time): AED7,298,841,593 (US$1,999,682,628.22)

27 December, 20.09 (UAE Time): AED 7,273,435,765 (US$1,992,722,127.40)

27 December, 18.08 (UAE Time): AED7,271,056,764

27 December, 16.09 (UAE Time): AED7,269,928,452

(Above) The Dubai Duty Free senior management team, led by Executive Vice Chairman and CEO Colm McLoughlin, marks the 35th anniversary with a ceremonial cake-cutting during the celebrations on 20 December.
Click here to view the Dubai Duty Free 35 Years Spotlight Series e-Zine, published on anniversary day by The Moodie Davitt Report
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