SOUTH KOREA/USA. 3Sixty Duty Free has bought back its 44% shareholding from Hotel Shilla (parent company of The Shilla Duty Free) that the Korean company acquired in 2015, The Moodie Davitt Report can reliably reveal.
As reported, Shilla bought the stake in the Miami inflight and airport duty-free specialist (then known as The DFASS Group) for US$105 million.
The Moodie Davitt Report has sought comment from both parties.
The news comes as Hotel Shilla, parent company of The Shilla Duty Free, posted a +10.5% year-on-year rise in Q4 2025 travel retail sales to KRW854.9 billion (US$583.8 million), up marginally quarter-on-quarter.
The division remained in the red though the operating loss narrowed to -KRW20.6 billion (US$14.1 million) from a thumping KRW43.9 billion (US$30 million) in Q4 2024.
Revenue in downtown travel retail stores increased +8.7% year-on-year while airport sales were up +11.8%.
As with all recent quarterly announcements, Hotel Shilla said focusing on profitability recovery to address changes in the internal and external environment and travel retail markets remains its key priority.
As reported, The Shilla Duty Free will quit its Incheon International Airport DF1 perfumes & cosmetics, liquor & tobacco concession, effective 17 March 2026, following heavy financial losses. The company decided not to rebid on the subsequent re-tender. DF1 will now be operated by Lotte Duty Free. ✈
