USA. In big breaking news, DFS this afternoon (6 March Pacific Standard Time) announced the transfer of its travel retail concessions at Los Angeles International Airport (LAX) and San Francisco International Airport (SFO) to Duty Free Americas (DFA).
The transfer is expected to close in Q2, subject to customary closing conditions.
The move is in line with a comprehensive review of DFS Group’s global store network revealed by Chairman & CEO Ed Brennan in an interview with The Moodie Davitt Report in November 2024.
The agreement follows just weeks after DFS announced the sale of its Hong Kong and Macau operations and intangible assets in Greater China to China Tourism Group Duty Free (CTG Duty-Free).
DFA, a family-owned and operated business and part of Falic Group, is the largest travel retailer in the Americas and a leading player worldwide.
DFS and DFA said they are fully committed to ensuring a smooth transition, maintaining operational continuity for airports, customers and brand partners, and sustaining the highest standards of retail excellence.
The DFS sales and support staff at LAX and SFO, along with warehouse staff, will be offered continued employment with DFA.
DFS Chairman and CEO Ed Brennan commented: “This strategic decision reflects DFS’ ongoing portfolio adjustment.
“We thank our customers and airport partners for their trust and support over the years in two of North America’s most important airport locations and extend our heartfelt appreciation to our employees for their unwavering service.
“We are confident that this move will ensure continued success and opportunity for our transferring employees with DFA, a company well-positioned to leverage their expertise and deep understanding of the US travel retail market to grow the business.”
DFA told The Moodie Davitt Report the agreement represents a “transformational” moment, one that defines a new era for the company. The deal will reinforce an existing position among the top travel retailers globally and significantly strengthen its luxury footprint, DFA added.
“The transfer of Los Angeles and San Francisco International Airports underscores our growth strategy, further expanding both our airport footprint and luxury retail presence,” said Falic Group and DFA President Leon Falic in a prepared statement.
“We are delighted to be partnering with two of the top airports in the Americas, which are also among the most important globally, with an exceptional gateway to international routes. We warmly welcome the airports, brands, and customer partners to our family as we begin this exciting journey together.” ✈
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