AMERICAS: HUDSON GROUP


that we already serve”, illustrates DiDomizio. Travel retail is a distinct industry


in which to operate, with airport terminals, travel trends and customer preferences so dynamic and ever- changing. Therefore, staying ahead of these trends and anticipating the needs and wants of airport partners and travellers remains essential. “It’s not an easy task,” emphasises


DiDomizio, “but in order to be successful, retailers must be able to adapt in order to stay relevant. That is what we have demonstrated over our 30-year history. “We have evolved from having a


single, newsstand concept to a multi- concept brand operator with a broad assortment of national and local merchandise and offerings. “This is part of our DNA and we


will continue to evolve so that we are always an essential stop for passengers along their journey.”


Room for growth Hudson Group is clearly focused on long-term growth and although it already has a strong market presence, there is ‘substantial room’ to grow its market share in top North American travel destinations. DiDomizio comments: “Given our strong reputation as a best-in-


A win-win situation


Dufry-owned Hudson Group has made huge strides in 2017 and 2018 so far in terms of new contracts, openings and expansions. However, this has not been the only major work going on behind the scenes.... In November 2017, the Dufry subsidiary


filed for a proposed Initial Public Offering (IPO) of its Class A common shares. In January 2018 it laid out the terms for the IPO in a United States Securities and Exchange Commission (SEC) filing. Julián Díaz, CEO, Dufry Group


had previously told TRBusiness in an exclusive interview that any pursuit of an IPO for a business it labelled a ‘great asset’ would help Dufry invest in organic growth and acquisition activities in key regions such as Asia. Hudson Group offered 39,417,765


Class A common shares to list within a range of $19 to $21 as part of its stated


OCTOBER 2018


IPO and in early February, its stocks began trading on The New York Stock Exchange (NYSE). On publication of Dufry’s annual 2017


results in March, Díaz, added: “On 1 February, we successfully listed a 42.6% stake on our North American division as Hudson Ltd. at The New York Stock Exchange.


“Besides further expanding our


duty paid convenience business, the listing aims at evolving the business by expanding into additional opportunity streams such as food and beverage operations and master concessions.” DiDomizio commented at the time: “As


a newly public company, I am energised by the prospect for continued growth and believe we are well-positioned to drive long-term shareholder value through our core purpose of being the traveller’s best friend.” The IPO is clearly a win-win situation


The Hudson IPO enables parent company Dufry to expand its duty paid convenience business and consider F&B and master concession opportunities.


for both parties. For Dufry, it can open up new doors and help it pursue growth opportunities specific to the North American market, while for Hudson it can take business to the next level and further showcase its commitment to offering value to its partners and consumers.


TRBUSINESS 103


class operator, relationships and extensive experience, we are well positioned to continue expanding our footprint through new RFP wins and expansions. “We also see significant


opportunity to further expand our presence in food and beverage concessions, which is the direction the industry is growing and a natural evolution for our business.” In terms of digital milestones,


Hudson recently announced it is accepting Apple Pay, Google Pay and Samsung Pay in all 550+ stores at roughly 2,200 cash registers. “In fact, we have estimated that


today, fewer than half of airport retailers and restaurants offer these payment options,” emphasises DiDomizio. “On the back-end, we’ve streamlined our payment systems in our duty free stores to make payments more efficient and get customers on their way faster. “We continue to explore


opportunities to leverage digital technology and data to enhance the


customer


and drive sales.” The company’s core purpose is to


be the ‘Traveller’s best friend’ and the general consensus is that it is delivering on this front. “Through this purpose, our strong values and


experience


The Dufry-owned company is focusing on creating and rolling out new concepts such as Ink and Tech on the Go.


“Given our strong reputation as a best-in- class operator, relationships and extensive experience, we are well positioned to continue expanding our footprint through new RFP wins and expansions.”


Joseph DiDomizio, President and CEO, Hudson Group


passionate dedicated team, we have been able to deliver long-term growth,” states DiDomizio. “Our continuous commitment to


these core values and behaviours will enable Hudson Group to adapt and continue to grow and provide value for our stakeholders, partners, vendors, customers, employees and shareholders.” «


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