AMERICAS LEADING OPERATORS: DUFRY
close to US$900. “Where Dufry is concerned, the
allowance increase would mean the possibility to improve its offer, enhance the product mix and bring more novelties to passengers.”
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Duty paid emphasis Crucially, juggernaut Brazil has continued to exhibit ruder health of late, characterised by GDP growth, lower inflation and improvements in currency exchange rates. This spells good news for Dufry’s airport operations at Rio de Janeiro Tom Jobin International and São Paulo International – both of which have benefitted from extended concession contracts in recent years. In addition, new space and
‘destination shops’ have been introduced in locations such as Brasilia, Viracopos and Belo Horizonte. “As far a duty paid is concerned,
this is a very attractive market from a convenience and product perspective,” explains Fagundes. “As domestic passengers account
for the major proportion of Brazilian travellers, Dufry developed ‘Dufry Shopping’ stores to attract them, a successful retail concept that delivers an experience comparable to duty free with a similar shopping environment and product offer.”
Mexico boom Momentum in Dufry’s Mexico business suggests it will continue to be a significant tool in the travel retailer’s regional armoury. In April, it won a concession to
operate a 400sq m duty free outlet at Mexico City International Airport Terminal 2, which duly opened in August, adding to its 30-strong store footprint. Mexico City Airport handled 44m passengers in 2017, 15.7m of which were international, according to operator Aeropuerto Internacional de la Ciudad de México. As Latin America’s busiest airport, it grew its international departing passenger numbers by 16.3% between December 2016 and November 2017, according to data from Counter Intelligence Retail (CiR). In fact, Dufry has benefitted from a +8% pax hike to its Latin America store locations due to double-digit growth in Chile, Peru and Mexico [see CiR report on pg59 for more information]. In November, the retailer opened
one of its much-vaunted ‘New Generation’ stores over 2,540sq m of retail space at Cancun International Airport’s new Terminal 4. This followed a 10-year contract renewal secured with Aeropuertos del Sureste (ASUR) in 2016 covering 16 outlets and 6,300sq m of space. A part of Dufry’s new ‘Business Operating Model’ (BOM), the New Generation store spans approximately 1,900sq m and places a strong focuses on ‘extensive and innovative use of digital applications’. Meanwhile in Colombia, Dufry
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opened 3,200sq m of retail space at Bogotá El Dorado International Airport in October in partnership with DFASS and operator Opain S.A, having won the 10-year duty free contract earlier in 2017.
Hudson NYSE listing In North America, turnover hit CHF1.3bn ($1.4bn) in the first nine months, with organic growth of +6% ‘supported by the resilient duty paid business’ together with a ‘good performance’ from its duty free operations. The launch of Miami-based Dufry
To receive a full digital copy of the March issue, plus 12 monthly print editions and the critically acclaimed TRBusiness Top 10 International Operators Report, please visit
www.trbusiness.com/subscriptions Dufry’s ‘New Generation’ store at Cancun International Airport. MARCH 2018
Cruise Services ‘also posted strong growth’ and opened the doors to the Asia market with nine shops over 1,950sq m aboard Norwegian Joy. Notably, there have been significant developments since last year’s consideration of an IPO for the regional business. In November, wholly-owned subsidiary Hudson Group filed with the US Securities and Exchange Commission. Consequent to the filing, the share price for Hudson was set in January before shares began trading on the New York Stock Exchange in February priced at $19 per share. Dufry retains majority ownership of Hudson. «
TRBUSINESS 37
“We are confident about the development in LATAM, especially in markets such as Argentina, Uruguay, Chile, Mexico, Columbia and Brazil to name a few.”
Gustavo Fagundes,
General Manager Brazil and Bolivia, Dufry
Tax and duty free at Buenos Aires Ezeiza International Airport international departures T3.
The contract spans seven duty
free, one duty paid and two Hudson convenience units at the international and domestic terminals.
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