[2][3] It is privately held and majority owned by the luxury conglomerate Moët Hennessy Louis Vuitton (LVMH), alongside DFS co-founder and shareholder Robert Warren Miller.

In 1960, American entrepreneurs Charles Feeney[5] and Robert Warren Miller[6] founded Tourists International, which later became Duty Free Shoppers (DFS), in Hong Kong.

[8] In 1968, DFS opened its first downtown duty-free store in Kowloon, Hong Kong, followed shortly thereafter by Honolulu and eventually expanding to 14 locations all over the world.

[9] In 1996, LVMH acquired the majority share of DFS Group,[10] buying out partners Feeney, Parker, and Pilaro and setting a new focus on the combined elements of travel and luxury.

[11] It developed a merchandising strategy based around five core categories – Beauty and Fragrances; Fashion and Accessories; Watches and Jewelry; Wines and Spirits; and Food and Gifts.