to diversity and inclusion by joining the Valuable 500, a global movement to speed the inclusion of people with disabilities in the workplace. The Maison also launched highly innovative campaigns to celebrate black beauty in North America and expanded its selection of brands founded by people of color, in line with the commitment undertaken in 2020. Thanks to its relentless drive for innovation and highly motivated staff, Sephora returned to its pre-pandemic sales levels and was listed in the prestigious Interbrand Best Global Brands 2021 ranking. The public health crisis continued to impact DFS business due to the very limited recovery in international travel, travel restrictions in China and quarantine measures implemented in Hong Kong. In response to the Chinese government s efforts

to transform Hainan into a free trade port by 2025, DFS, in partnership with Shenzhen Duty Free Group, opened its first downtown store in the port city of Haikou. Thanks to growing demand from local customers, the seven T Gallerias in Macao turned in a good performance, while DFS launched its operations in Hainan. The highly anticipated opening of La Samaritaine Paris Pont-Neuf took place in June following an ambitious renovation project and saw a promising number of visitors. After a one-year hiatus, the Masters of Time event showcasing a prestigious collection of watches and jewelry returned to Macao for its 12th edition. DFS accelerated its omnichannel transformation through an innovative Travel E-Tail program for its customers and brand partners. The Maison continued to focus on employee well-being

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