In one of the biggest news stories of Cannes 2023, Dufry Group announced that it will become Avolta, a new brand identity representing the Dufry and Autogrill combination.
Announced on the first Monday night of the TFWA World Exhibition, the company says that the new name unifies the travel retail and food & beverage (F&B) businesses under a single company name – which is the next step in the ongoing integration of the two entities, and “reflects the company’s long-term vision by putting the travelers’ needs at its core,” said the official announcement.
The Avolta brand will lead all internal and external communications, with all corporate brands of the former Dufry and Autogrill Group transitioning to the Avolta brand family.
Consumer-facing brands, however, like Dufry, Autogrill, World Duty Free and Hudson, to name a few, will continue to operate as previously.
Opportunities ahead
“We are Avolta, and we are a unique, resilient and highly diversified company – with the aim to deliver reliable results for our shareholders and stake-holders. After many months of working on this beautiful brand together with our team, we are so happy to finally share it with the world. The travel experience revolution is in motion – Journey On!” -Xavier Rossinyol, CEO.
“We see a great opportunity emerging from the changing traveler and customer expectations and their boosted appetite to travel. Our Destination 2027 strategy set our ambition to create a Travel Experience Revolution, and Avolta is the vessel that will help us navigate this journey with success,” explains Xavier Rossinyol, CEO.
“Avolta encapsulates our expanded vision and commitment to innovating the traveler-centered experience with enhanced digital engagement,” he added.
Under the Avolta identity, Rossinyol says that the company is “more than ever One Team, visually and operationally unified. Avolta translates our strategy into a common brand identity, reflecting our travelers’ needs and putting them at the center of our focus and initiatives.
“Avolta stands for smart stores and advanced entertainment, digitalization and omni-channel, hospitality and culinary, and the ultimate combination of the businesses,” he said.
Speaking of the derivation of the name in an exclusive interview with The Moodie-Davitt Report, Rossinyol said that name comes in part from vol which in many Latin languages means fly, “which is at the heart of what we do, not only because of our business but because also we want to fly high” he was quoted as saying. The name also encompasses “volt”, which is energy, he said.
Avolta: operating as one team
The launch of a common company name reinforces the long-term vision of the combined company and is a powerful part of its Destination 2027 strategy, said the company. Operating as One Team, under one brand, Avolta can leverage further benefits of the collective Group, realizing the company’s full potential.
Avolta’s common new identity can harness the cultures and brand identities of the legacy companies, unite all employees, and increase collaboration by reducing geographical and cultural distances, said the company statement.
The company goes on to say that the Avolta name “continues to create value for all stakeholders by transforming the traveler journey to be as rewarding as the destination. Combining a strong sense of place with global expertise, Avolta enhances traditional travel retail and F&B with new hybrid and digital frontiers.”
More diversified and resilient
The combined new entity will operate in more than 75 countries and 1,200 locations, with 5,500 points of sale across three segments – duty free, travel convenience & essentials, food & beverage – and a wide range of channels – from airports and motorways, through to cruises, railways and more.
The company says that Avolta’s diversification provides stability and resilience in volatile markets.
With an extensive portfolio including thousands of long-term concessions, around 1,200 brands and 150 proprietary brands, Avolta is less vulnerable to macro-economic impacts, its unique offering combining risk protection and resilience in crises with attract-tive growth potential, sustainably improving profitability and cash flow.
Dufry will hold an Extraordinary General Meeting (EGM) to ask its shareholders to approve Avolta as the new company name for the holding entity; with an invitation issued for Nov. 3, 2023.
Dufry and Autogrill finalized their partnership in July 2023, with the new entity expected to generate annual revenues of around CHF 13.6bn ($13.8bn).
