Since the Falic Group bought the duty free operations of World Duty Free Americas from BAA just weeks after 9/11, what is now known as Duty Free Americas has grown into the eighth largest travel retail operator in the world with revenues north of two billion for the past few years. The family-owned company has consistently grown its business, and 2026 promises to be one of its most transformative years ever.
Not only is the operator scheduled to open the duty free concessions at The New Terminal One at JFK, the only all-international terminal in the U.S., but DFA also acquired DFS’ duty free operations at Los Angeles and San Francisco international airports, is upgrading its airport and border shops throughout the country and embarking on further global expansions.
“We bought the company four weeks after 9/11 and closed on October 11. We fixed what needed to be fixed, and within a year or so, my brother Leon, DFA President, moved to Panama and opened up and expanded our business into South and Central America,” Duty Free Americas CEO Jerome Falic tells TMI.
“We’ve also expanded into other areas – we have done a lot with liquor and have some perfume business as well. Our boys [sons and sons-in-law of brothers Simon, Jerome and Leon] are very involved,” he adds.
JFK Terminal One
Winning the duty free concession at New York’s John F Kennedy International Airport was a major victory for the company. Partnering with The Port Authority of New York and New Jersey, The New Terminal One, and Unibail-Rodamco-Westfield (URW) (which in July of last year was acquired by Grupo Aeroportuario del Sureste, ASUR, and is now called ASUR US Commercial Airports, LLC), DFA will operate a number of stores on multiple levels at the new terminal, which will become the largest at JFK when it opens. The privately funded, $9.5 billion all-international terminal, which will open in phases beginning in 2026 with completion in 2030, will feature duty free shops inspired by New York City’s skyline and landmarks, and will showcase global brands alongside local products.
“We were scheduled to open in June, but the opening has been pushed back a while. The multi-level flagship store, inspired by New York City’s iconic skyline, will operate under the name of Skyline Duty Free. This first-of-its-kind retail experience spans nearly 20,000 square feet and will anchor the terminal’s ‘World’s Runway’ commercial district.
“It’s a whole new, different look than what we’ve had anywhere else. It’s going to be a spectacular design,” said Falic.
According to the official announcement of the concession award, Skyline Duty Free will set a new standard in airport retail, featuring world-renowned powerhouse brands, made-in-NYC products, and immersive shopping experiences.
The concession agreement includes four additional duty free locations throughout the terminal.
“We will have a dedicated beauty store, about 3,700 square feet, called Skyline Beauty. There will also be a store dedicated to brands from The Estee Lauder companies, that will include Tom Ford, Le Labo and others,” says Falic.
The airport also wanted something with a strong New York theme, says Falic, so after moving seamlessly through security, customers will be welcomed by “Love Local,” a striking storefront featuring all NYC- and Queens-based makers and businesses.
The flagship duty free store will also feature several unique shop-in-shops, says Falic.
“But the main store will be very core duty free focused. In addition, emphasizing the New York City sense-of-place, more than 1,000 square feet of local products will be prominently featured in a rotating assortment through an area called Outside In,” he says.
This local business showcase brings the essence of New York City’s famous markets—Urbanspace, Chelsea Market, Bryant Park, and more—to the terminal with a thoughtful selection of small-batch goods and locally-made artisanal products celebrating local craftsmanship on a global stage.
Most important to the new concession, the New Terminal One will offer duty free shoppers a cash-and-carry option for the first time.
“As this is an all-international, sterile terminal, shoppers will be able to take their merchandise with them from the store. There will be no need to wait at the gate for purchases. We’re very excited to be in the only international terminal in the country. We’re really looking forward to showing how convenient it will be for the shoppers,” says Falic.
Miami
Duty Free Americas also has very ambitious plans for its concessions at Miami International Airport, which itself is in the midst of a massive $9 billion development program.
“We plan to renovate every single one of our stores at the airport from now through 2029,” says Falic.
The reconstruction, which will cover all 20 stores that DFA operates at MIA, will take place in phases.
“We will be introducing an entirely new look for all of our stores in Miami. We’ve hired a new architect group and think that it will bring our stores to another level,” he says.
“This is more than just a refresh. It will be a complete renovation and new look.”
The first store to be renovated is located in H Concourse. DFA will be converting an area with several stores into one much larger walk-through store.
“This will attract a lot more passengers who weren’t coming through before. They will now have a reason to walk through there.”
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Washington & DFW
Duty Free Americas has also just renovated its flagship store at Washington Dulles International Airport.
“We have a brand new store in Washington Dulles that we are just putting the finishing touches on. Where we previously had several individual boutiques, we now have a single long store. It’s doing phenomenal business and, again, it is very duty free core focused, says Falic.
DFA is also renovating and expanding several duty-paid, domestic stores that it operates in the Dallas-Fort Worth International Airport, says Falic.
“We are investing heavily in all of our stores,” he tells TMI. “We are just finishing in Washington; and we will be making a huge, major investment in our stores in Miami, as we introduce state-of-the art design and experiences and a totally new look. And of course, Terminal One at JFK is massive.”
The DFA philosophy: it’s the price that counts
“Obviously, we still see a lot of growth left in duty free. There’s always talk about experience, experience, experience. But at the end of the day, if you have a beautiful store and it’s filled with merchandise, and you price it according to at least the suggested duty free pricing, you are going to sell. We have a captive audience.
“But we need to be competitive. Travelers need to see a savings against domestic pricing, which is an issue. We’re always telling the companies that they need to give a customer a reason to shop. In the last few years, we have seen travel retail prices coming too close to domestic pricing. When they do that, there’s no reason for the customer to shop, especially when it is so easy to check prices online. There needs to be significant savings.”
Falic says that DFA would like to see suppliers work on more promotions and bundles, as well as duty free exclusives.
“We do very well with promotions. Also, when companies launch a product in duty free before it goes to the local market, we see excellent results. Carolina Herrera’s La Bomba pre-launched in airports last year and it was a huge success for us. There is nothing as effective as people seeing something live,” he argues.
“There are so many eyes that see that product in the airport. Forget about a billboard and forget about Instagram, because you’re only hitting some people there. Live eyes seeing the product, seeing the promotion, seeing that huge display of all these new exclusive items, makes a difference. That’s the experience for the customer –to see something they’ve never seen before.”
“We need to be competitive, we need to be promotional; this will keep us significant.”
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At the Borders
DFA also operates duty free stores across the borders with Canada and Mexico.
“It’s no secret that we’re definitely feeling the hit of the Canadian traffic not coming to the U.S. We’ve been feeling it now for about a year but I think the worst is over. I’m pretty positive we’re going to see much better traffic compared to last year.
“I think the Canadians missed coming to the U.S. and we know they love to shop in our stores. There are still some U.S. brands that are being banned on the Canadian side, that we are seeing an uptick for when the Canadians go back. They have to buy the American brands in our stores,” Falic continues.
DFA’s business was not as affected on the southern border as it was on the northern border, he adds.
“There was some effect, but the southern border is already coming back very strong. And we’re putting a project in place to renovate many of the key stores on the southern border. We’ll start with the key locations and take it all the way through soon. It will be a two-to-three year project.”
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LATAM
Looking further south, the 2026 ASUTIL Conference will take place in Punta Cana in the Dominican Republic, where DFA is the exclusive duty free operator at the airport.
“We have a very impressive operation in Punta Cana. We have a lot of beautiful shops in arrivals and departure across two terminals, including some incredible walk through stores. We have a bar there as well at the end of the terminal. Punta Cana is a very strong operation. We will also be one of the major sponsors of this year’s ASUTIL Conference,” says Falic.
Latin America
In addition to operating duty free shops, DFA manages a lot of liquor distribution in Latin America and is growing its beauty distribution.
“We are very strong in liquor distribution,” notes Falic. “We’re the number one distributor in Colombia, and I think that we are the second largest distributor in Panama. We’re very strong in several other Latin American countries as well, and we continue to expand. We also distribute beauty through some affiliate companies. We are the second largest beauty distributor in Mexico, where we have been since about 2007. We sell to all the major department stores in the local market,” he explains.
DFA has also reopened its duty free store in Venezuela, on the border with Colombia.
“We opened the Urena duty free store in the early 2000s but closed it for a while. Now we have reopened it, and it is getting stronger. We are also looking to develop some domestic distribution for both beauty and spirits here as well, in addition to travel retail.”
Middle East
In late 2024, the Falic Group announced that it was embarking on a significant acceleration in its global expansion efforts, including extending its reach into high-growth markets across the Middle East, Africa, Europe, and the Americas.
As part of the global expansion, the company launched UETA MEA, a new business aimed at strengthening distribution across the Middle East and Africa, with a specific focus on the diplomatic channel. The company is now developing a major high-end beauty project.
“In a very short time we have developed a significant distribution in the Middle East and Africa, especially in spirits,” says Falic. “And now we have a very interesting project in the Middle East, where we will open a luxury, high-end beauty store in the new Wynn Resorts UAE casino scheduled to open in 2027.”
The Wynn Al Marjan, a $5.1 billion, 70-story project that will be the first integrated casino resort in the UAE, is on track to open in first quarter 2027. [Ed. Note: As of press time in late March, construction has resumed on the project after a temporary halt due to the U.S.-Israeli conflict with Iran]. The resort is located about 15 minutes from Ras Al Khaimah International Airport and under an hour from Dubai International Airport.
“The casino/resort is one of the largest projects in the UAE and DFA will have the exclusive beauty shop in the hotel like we have in Macau. It’s an amazing project, and the store will be spectacular. We are going to carry all the major brands like Dior and Chanel, plus high-end niche fragrances and cosmetics, and offer treatments. We hired a person full-time dedicated to the project based in Dubai. We’re very excited about this project, and it will give us a foothold in beauty in the Middle East.”
