Luxury travel retailer DFS, a subsidiary of LVMH, will exit the Oceania market by the end of September, closing its stores in Auckland, Queenstown, and Sydney. The company cited difficult economic conditions and a global restructuring strategy. DFS’ New Zealand stores will operate until September 30, while Sydney’s George Street T Galleria will close on September 10. The company said it will support affected staff during the transition. The exit comes amid broader retail struggles in Auckland’s CBD, where foot traffic dropped 10% YoY in Q1 2025.