LEADING AMERICAS OPERATORS: DUFRY
higher DF&TR spending from Latin America, which according to its nine-month results took a 19% share of global revenues – a decline of one percentage point year-on-year. Uruguay and Argentina have
already moved to increase their inbound duty free allowances from $500 to $650 and from $300 to $500, respectively. At present, the Brazilian inbound
duty free allowance limit remains pegged to $500, but the industry continues to push for a ceiling lift in what would be a huge boost for the already booming arrivals business. “The project to raise the allowance
from $500 to $1,200 has been archived at the lower house at the end of 2017 and since then there haven’t been any updates on the issue,” comments Gustavo Fagundes, General Manager Brazil & Bolivia, Dufry. That issue may well receive
renewed impetus in the coming months after the Ministry of Finance’s Receita Federal approved long-awaited legislation for land border duty free shops to open in any of the country’s 32 border twin cities [a draft bill to legalise store openings in the country was originally permitted in 2012 – Ed]. Despite the delays, the first store
is understood to be opening this month, possibly in Uruguaiana. However, TRBusiness is keen to stress the situation is changing swiftly. “We cannot comment on
specific projects or locations,” responds Fagundes, when asked which locations Dufry may look to compete for. Instead, he states the travel retailer is ‘assessing the best opportunities and locations’ in the Brazilian twin cities. Separately, ASUTIL is engaged
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latest New Generation store. “The store is open and functional,”
confirms Riedi. “It will be officially inaugurated in early April.” The latest addition means
Dufry possesses three New Generation stores in Latin America across Buenos Aires and Cancun International Airports. These add to its airport locations at Madrid- Barajas, Melbourne, Zurich and London Heathrow. Each store features technology
such as digital screens to tailor retail offers to passengers, and are supplemented by other initiatives such as Reserve & Collect and loyalty programme RED by Dufry. Elsewhere, Central America
including the Caribbean fared well during the nine months despite a flatter performance from Mexico in Q3. Dufry’s burgeoning cruise business
was singled out for particular praise, having started operations on 13 cruise liners covering nearly 4,000sq m across 41 stores. New concession agreements with
Holland America Line, Norwegian Cruise Line and Carnival Cruise Line [p63] has expanded its retail footprint as Dufry continues to make aggressive inroads into the market.
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Hudson charts healthy course The growth picture was better in North America for the nine months of 2018, with turnover up by 6.6% to CHF1.4bn ($1.4bn). Organic growth rose by 7.5%
year-on-year as passenger volumes spurred healthy concession gains. Net proceeds from the Hudson
in a concerted effort to tackle the exclusion of key duty free product sales such as tobacco from a resolution permitting land border duty free shops among Mercosur bloc countries [for more, see p51].
New Generation store open At shop level, one notable development is at Buenos Aires Ezeiza International Airport Terminal A Departures in Argentina, where the travel retailer recently opened its
MARCH 2019
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IPO helped to reduce net debt, which fell by CHF599m to CHF3.1bn. according to its financial results. North America’s share of the
business rose by one percentage point to reach 22% year-on-year. Several operations welcomed 36
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new shops, contributing 3,500sq m towards a total 18,300sq m of gross retail space opened by the travel retailer globally during the period. Wholly-owned subsidiary Hudson
Group has enjoyed a flurry of activity in the past 14 months. In March 2018, it sealed a 10-year contract extension at Pittsburgh International covering more than 1,012sq m of concession
São Paulo-Guarulhos International Airport welcomed a Dior store under Dufry in December.
TRBUSINESS 29
retailing is also in evidence following last month’s opening of a 418sq m Empire State Building Official Store. The addition of the shop adds to a portfolio of more than 300 speciality retail locations. «
Mexico displayed a flatter performance in Q3 after a strong H1 2018. Pictured is World Duty Free at Cancún International Airport.
One notable development is at Buenos Aires Ezeiza International Airport (Terminal A Departures) in Argentina, where the travel retailer recently opened its latest New Generation store.
TRBusiness
space. It followed this up by opening new concessions at the likes of Raleigh-Durham International Airport, while extending its footprint at New York La Guardia having won a retail package in August for the refreshed Terminal B. In the same month, it won a 10-year
agreement to expand its presence at Boston Logan International Airport to 40 stores and more than 3,158sq m of commercial space across Terminal’s A, B, C and E. A sharpened focus on speciality
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