Gebr. Heinemann reports solid 2019 but warns dramatic slump in travel will produce severe losses in 2020

Gebr. Heinemann closed 2019 with turnover up 5.3%, from 4.6 to 4.8 billion euros. But the COVID-19 pandemic, which caused a dramatic slump in the travel market in the beginning of March, brought about severe losses for the family business in 2020. “During our long-standing history we have seen many crises. This gives us some […]

Dufry turnover plunges -62% in first half; accelerates re-opening and re-organization

Dufry, the world’s largest travel retailer, last week revealed the impact of the COVID-19 pandemic on its first-half results, and it should come as no surprise how dire the impact was on earnings. During the first six months of the year, Dufry’s performance was impacted by the unprecedented level of disruption of retail operations, globally driven by […]

Hotel Shilla to acquire 44% of 3Sixty Duty Free in a partnership to develop the Americas travel retail business

In a major breaking news story that could usher in a new player with strong Asian links in the Americas travel retail channel, Hotel Shilla, the parent company of Shilla Duty Free, South Korea’s leading travel retailer, will subscribe 44% of the share capital of 3Sixty Holding LLC (formerly DFASS). The two Companies issued a […]