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Roberto Graziani: “For a long time I have been watching the development of the travel retail business in Korea with great interest and now I’m really looking forward to contributing to its global expansion” |
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“I have always appreciated Mr Graziani’s strategic view, international competence and knowledge, his passion for the business and his very strong commitment to the company for which he was working“ |
Boojin Lee President and CEO Hotel Shilla |
SOUTH KOREA. In big breaking news, Hotel Shilla has just announced the appointment of former Nuance Group CEO Roberto Graziani as Board Member. The Shilla Duty Free is a business division of Hotel Shilla.
In a statement Shilla said: “Mr Graziani, who served as CEO for 11 years at Nuance until the sale of the company to Dufry in late 2014, has been noted as a management specialist with one of the longest terms in the position. He has a wealth of experience with specialisation in the duty free industry as well as extensive networks with worldwide airport and brand partners.”
It continued: “Mr Graziani is tasked with contributing to the achievement of The Shilla’s Duty Free’s organisation’s vision to become a global leader in travel retail. He will lead the Merchandising Division in the definition of its strategic goals and in the development of its commercial relationship with its partners.
“Moreover, Mr Graziani will drive Shilla’s global expansion in travel retail and its international business.
“In addition, Mr Graziani will be appointed Vice Chairman of the newly created joint venture with DFASS in the United States with the responsibility for business expansion and maximisation of synergies with Shilla.”
Ms Boojin Lee, President & CEO of Hotel Shilla, commented: “At Shilla, we are very pleased about Mr Graziani’s decision to join us as Board Member. I have known him since 2007 and I have always appreciated his strategic view, international competence and knowledge, his passion for the business and his very strong commitment to the company for which he was working. I’m sure Mr Graziani will play a pivotal role in the future success of our duty free organisation.”
Graziani added: “I’m very honoured to be part of the Hotel Shilla family. For a long time I have been watching the development of the travel retail business in Korea with great interest and now I’m really looking forward to contributing to its global expansion.”
COMMENT: This story breaks late at night Orlando time where I am attending the Duty Free Show of the Americas, writes Martin Moodie, and will immediately become the talk of the show, especially given the Shilla/DFASS deal a few days ago. I’ll bring you more extensive comment tomorrow but for now let’s simply say this is a shrewd move by Hotel Shilla, keen to expand its international footprint and to reduce its cost of goods, the latter a crucial requirement.
The well-regarded Graziani, who delivered such a spectacular return for his shareholders in the sale of Nuance to Dufry, will have played a pivotal role in securing the DFASS partnership for Shilla (Nuance, now Nuance/Dufry, and DFASS have been long-term joint venture partners in several US airport operations). Shilla also contested the race for Nuance and, impressed by the quality and vision of Graziani, has now secured his services.
The traditional weaknesses of the Korean powerhouses, Shilla and Lotte – i.e. their lack of international travel retail management expertise and their high cost of goods – are being simultaneously addressed here by Shilla in what looks an excellent and timely appointment, and the certain precursor of more industry consolidation to come.
More analysis and comment to follow.
