Southern Europe & Africa

The world’s most important tourist destination confirms its key role

Dufry is the market leader in the Mediterranean, which is the world’s most important touristic region. Moreover, Dufry is the main duty-free operator in important popular destinations such as Spain and Greece. We are also present in the South of France and in Italy as well as in Northern Africa and in Antalya, Turkey. With this portfolio, Dufry captures major travel flows in this key geographical area. Division 1, headquartered in Madrid, also includes all African operations of Dufry in Cape Verde, Egypt, Algeria, Ghana, Ivory Coast, Kenya, Morocco and Nigeria as well as our business in Malta and our partnership in Portugal. In total, the division comprises over 130 locations in 15 countries in Southern Europe and Africa.

2016 marked another year of important achievements in the division, which saw strong performance in Spain and lower sales in Greece and Turkey, impacted by the decline in the number of Russian travelers. In Morocco, Dufry signed important agreements: a concession to operate 13 duty-free and duty-paid shops at Marrakesh Menara Airport; and a concession to operate 5 shops at Casablanca airport, both running for 10 years. In Egypt, Dufry won a concession to operate close to 3,000 m2 of retail space, across 7 shops. In the year Dufry also started its operations in Kenya and Nigeria and signed an important extension in Guadeloupe (managed out of France). All-in-all, Dufry has signed concession contracts which amount to over 15,000 m2 in the division.

UK, Central & Eastern Europe

Important contract extensions in major European markets

Headquartered in London, Division 2 comprises all our operations in the North of Europe, including the United Kingdom, Switzerland, Scandinavia and Russia. The division features a well-balanced portfolio operating in over 60 locations in 11 countries and a broad variety of customer nationalities from mature and emerging markets with both tourist and business travelers.

In 2016, the division reported a strong sales growth in the United Kingdom, following the devaluation of the British Pound after the Brexit vote and a resilient development in most of the Central and Northern European operations. In the year under review, we continued to focus on early renewing our most important concessions. Our concessions in Basel, Birmingham, Bristol and Zurich were all renewed ahead of time, for durations ranging from 7 to 10 years. The renewals not only secure the most relevant operations in the division for a considerable time-span but also confirm the trust of the airport partners in working with Dufry.

Asia, Middle East & Australia

Important contract renewals and renovations in a strategic growth region

Dufry is the most international travel retailer with the highest number of operations in Asia and in the Middle East; a region that is still very fragmented in travel retail. We are present in 19 locations in 11 countries.

Headquartered in Hong Kong, Division 3 includes operations in the United Arab Emirates, Jordan and Kuwait in the Middle East; and Australia, Hong Kong, Macau, Singapore, Indonesia, Cambodia, India and Sri Lanka, as well as China and South Korea in Asia-Pacific. Building on this well diversified portfolio, it is our goal to further expand our presence in Asia.

In 2016, the performance of our Asian operations saw positive developments in our Middle Eastern locations and a strong growth of our Korean operation in Busan, which benefitted from the increasing flow of Chinese passengers. On the contrary, operations in Hong Kong and Macau had to slightly adapt their offers to the changed customer profiles. In the year, Dufry also extended several concessions, above all the important contract in Melbourne. Within Dufry’s global refurbishment program, Division 3 has seen extensive refurbishments in important locations. In Macau, Dufry opened a new operation at the Parisian Hotel, while in Cambodia, Dufry has fully refurbished and expanded its operations in the Phnom Penh and the Siem Reap airports. Last but not least, in early 2016, Dufry’s new logistics center became operational in Hong Kong and will play a key role in driving efficiency in the supply chain, improving lead times and reducing out-of-stock situations for the whole division.

Latin America

Market leader position in Latin America further secured

Division 4, Latin America, comprises all Dufry operations in Central and South America as well as the Caribbean. Geographically the region includes some of the most dynamic travel retail markets, and has traditionally been a region where Dufry has had a very strong market position. The area continues to offer expansion opportunities in a variety of alternative channels, such as border shops, cruise ships and downtown operations. Headquartered in Miami, USA, the division runs operations in Argentina, Brazil, Bolivia, the Caribbean, Chile, the Dominican Republic, Ecuador, Honduras, Jamaica, Mexico, Nicaragua, Peru, Puerto Rico and Uruguay.

In 2016, the division was very successful in early extending important contracts such as in Rio de Janeiro, São Paolo, Viracopos, Cancun and Cozumel, while at the same time expanding its retail space. Furthermore, operations saw refurbishments in Mexico City, Rio de Janeiro and Lima among others. While the Caribbean and Mexico had a positive performance across the whole year, operations in Brazil showed a steady and strong recovery in the second half. In total Dufry opened close to 60 new shops in Latin America.

North America

A developed market full of opportunities

The North American travel retail market is also one of the traditional core markets of Dufry. We have an extensive footprint of operations in different segments, and in particular the duty-paid business is sizeable. The United States are the home-market of our highly successful duty-paid Hudson convenience shop concept and we operate over 530 convenience shops in North America under that brand. Moreover, the ongoing modernization of the airport landscape in the US offers a considerable potential to expand also with duty-free operations as well with brand boutiques and specialized shops. Dufry already successfully operates all of these formats in the region, across over 70 locations in both the US and Canada.

During the year under review, the North American division managed to extend several concessions such as in Seattle, Cleveland, Calgary, St. Louis and Los Angeles, while also winning new contracts as in Las Vegas, Minneapolis and Tulsa airport. Overall, we opened over 100 new shops in 2016 in the division. The main refurbishments executed in this division were at the airports in Vancouver, Seattle and Toronto. North America features a very resilient performance, which has been confirmed also in 2016, mainly proving the strength of the Hudson concept.

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You may know of Dufry through one of our many other retail brands. If you would like to connect directly with one of these, please see the below links to our entire portfolio.

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