Benefitting from the widest industry experience

Facility owners and Dufry share a common goal – maximizing returns on the available space and creating a highly innovative and attractive shopping experience for customers. Dufry’s extensive expertise in all technical and regulatory aspects and its retail know-how are core competitive advantages, as is its comprehensive range of attractive retail concepts and shop formats to satisfy any need of a landlord in both duty-free and duty-paid environments. The in-depth understanding of customer profiles and their specific shopping behaviors learned through our worldwide presence, are key to best designing these retail concepts and to develop successful marketing initiatives tailored to meet the requirements of every single airport or any other location. Furthermore, in order to understand the latest trends in consumer behavior, Dufry regularly carries out detailed consumer research, thus generating insights that ultimately benefit landlords through increased sales and profitability of their commercial space.

Creating value for both travel retailers and facility owners through real partnership

The partnership between facility owners and retailers is one of the most important aspects of travel retail. Our many years of experience in the business show that the closer both parties work together and align their common goals, the higher the value generated. By joining forces, we can create more inviting and attractive commercial spaces that maximize spend from the passengers’ arrival at the airport until their boarding – and if legislation allows for arrival duty-free even after landing.

Dufry has a long-standing tradition of partnering with landlords in different operations, be they large or small, in emerging or developed markets, at airports or seaports, border shops, railway stations or on cruise lines and ferries. Recent examples of refurbishments and expansions of our shops confirm the value of coordinated strategies. Projects developed at the airports of Spain, Sweden, Jordan, Antalya, Casablanca and Buenos Aires are a few examples of how Dufry and landlords can work together on the structuring of passenger flows, improving the appearance of commercial space and expanding retail offerings to considerably increase sales.

13 New Generation Stores now in operation.

Dufry’s New Generation Store – up and running

In 2019, Dufry opened 4 additional New Generation stores in Buenos Aires, Amman, Malaga and Alicante complementing the 9 existing ones in Madrid, Melbourne, Cancun T3 and T4, Zurich as well as at London Heathrow T3. 

Dufry’s New Generation Store concept makes extensive use of digital technology to increase communication with passengers at the airport. The digital route allows Dufry to approach potential customers in an even more personalized way than ever before and to flexibly adapt in-store communication during the day to the changing nationalities and customer profiles, enhancing the communication’s impact. The sense of place of our shop designs, an important aspect for landlords, is also secured in the new concept, as the format provides for a high degree of customization. Dufry knows how to perfectly match these requirements with efficient retail concepts, to best serve travelers’ needs and to generate value for landlords and Dufry alike.

Long-term concession portfolio.

Deployment of our digital strategy improves conversion and boosts the visibility of operations

In 2019, Dufry further accelerated the deployment of its digital strategy launched one year earlier than originally planned. The digital strategy essentially aims at converting more travelers into customers, thus driving sales and ultimately benefitting our landlords. Besides the New Generation Stores, services such as Reserve & Collect and above all the loyalty program RED by Dufry promote our operations online on a world-wide scale, through their global span and reach travelers across the world. This gives airports and their retail offer additional visibility and exposure, thus promoting them as attractive shopping locations. For a more detailed description of our digital strategy, please also refer our strategy.

Successful contract extensions secure future business

In travel retail, concession contracts are the key business driver for retail operators, as they provide the right to sell their products at a given operation. In 2019, Dufry continued to successfully win new contracts and to renew existing concession contracts, some of them well before the previous expiry date, thus extending the remaining average lifetime of its portfolio, which is currently 7 years. Within our concession portfolio, 17% of our contracts have a remaining life-time of one to two years; 22% three to five years; another 46% between six and nine years, and the final 15% have a remaining duration of ten years or more. On average, Dufry renews existing contracts that generate between 10% to 15% of our sales every year, as well as adding new contracts.

243 new shops added to our first-class concession portfolio

In 2019, Dufry opened and expanded 243 new shops adding almost 33,900m² of retail space across all divisions. At December 31, 2019, the entire concession portfolio of the group included retail space of close to 470,000m².

Dufry’s concession portfolio is highly diversified and well balanced across emerging and mature markets on all six continents. This considerably reduces risks of being exposed to single markets and operations; the largest concession only accounts for approximately 7% of turnover; while the 10 biggest concessions represent less than 35%.

Focusing on investment returns

Dufry systematically follows an approach of financial discipline when evaluating new projects and opportunities. They are analyzed individually on a commercial and financial basis. The many aspects of a project being put together include development potential and analyzing initial investment requirements, as well as the expected development of passenger numbers and profile perspectives. Through a strict evaluation of these criteria and our disciplined approach to returns, we ensure that our concession portfolio remains of the highest quality and that each concession offers attractive returns for the Group. This methodology is applied for all project types, irrespective whether we participate in a tender process, engage in direct negotiations with landlords or perform acquisitions.

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