ARGENTINA/US. Enrique Urioste, President and CEO of leading Argentinean travel retailer InterBaires, is leaving the company to join Duty Free Americas (DFA) as President of its Airport Division.
Effective 1 October 2007, the highly rated Urioste will be assuming the position formerly occupied by Michael Dinar, who recently moved back to his native Israel with his family. Dinar will remain as a consultant to the company through December 2007 and will assist Urioste during this transition period.
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Enrique Urioste: Huge coup for Falic family |
Urioste will move to Miami, Florida in the US. His appointment is a major coup for Duty Free Americas, owned by the ambitious Falic brothers – Simon, Leon and Jerome.
“DFA is delighted to welcome Mr Urioste to our management team, and we are confident that his involvement in our company will help us meet the demands of the dynamic duty free industry,” said Jerome Falic, Chief Executive Officer of Duty Free Americas.
“He has an extensive travel retail background with excellent international experience in operations, as well as buying and merchandising. Above all, we recognize his leadership skills, his decision-making and executive abilities, and the need for his talents for the continued growth of DFA.
“At the same time, we are very grateful to Michael Dinar for his dedication, professionalism and integrity and for the high quality of his work during the past six years,” Jerome Falic continued in a warm tribute. “He has laid the foundation for the future development of our Airports Division, and has always been highly regarded by his staff, vendors and airport authorities throughout the United States.
“While we are sorry that he has chosen to leave the company, we can certainly appreciate his decision, which was based on his devotion to his family. We wish him all the best in his future endeavours.”
Michael Dinar said: “My experience at DFA has been very fulfilling and successful, but the time has come to move back to Israel, where my wife and I can be nearer to our sons who are serving in the military there. DFA is a tremendous company that will continue to thrive because of its wonderful people. I wish them all well and thank them for their support over the years.”
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Michael Dinar “has laid the foundation for the future development of our Airports Division” said Jerome Falic |
Urioste commented: “It has been an honour to serve for the past seven years at Interbaires. I was fortunate to have been able to contribute to the growth and success of the business and to lead and work with one of the most professional teams and a great company.
“I am very grateful to the members of the Board of Directors and shareholders for the trust and confidence they have placed in me and my team.
He added: “I am delighted to join DFA and feel privileged to be able to bring my own vision to this exciting company. I look forward to working with DFA’s very talented management team and sales associates to capitalize on the progress that has been made and help position the company for long-term success.”
Urioste has driven a remarkable transformation of InterBaires’ fortunes over the past five years. In 2007 the retailer forecasts sales of US$154 million, up by +33.6% on the 2006 figure of US$115.3 million.
Even more impressively the 2007 projection, if reached, will represent a +298% increase in sales since 2002, when the effects of Argentina’s economic crisis hit the company hard. All key drivers, from footfall to penetration to average spend per passenger and per customer have shown consistently remarkable year-on-year increases under Urioste’s leadership.
Urioste has also placed an arguably unrivalled emphasis on information sharing and transparency with suppliers, in the process introducing a host of innovative IT solutions to ensure immediacy of feedback on sales and stock levels. For a period of four years prior to joining InterBaires, he held the position of Secretary of Regional Trade of the South American Duty Free Association (ASUTIL).
Currently he is on the Board of both the International Airport Association of Duty Free Stores (IAADFS) and ASUTIL, where he is also Vice President.
Until recently Duty Free Americas’ retail business has been focused in the Americas, principally the US, where it is the country’s leading airport duty free retailer. As revealed by The Moodie Report, Duty Free Americas announced its first Asian operation in February after the signing of a contract to operate 16,359sq ft of retail space at The Venetian Macao Resort-Hotel complex. It opened there last week.
The company’s determination to succeed in its first foray into Asia was underlined by the appointment of the long-time Duty Free Manager Worldwide of Luxottica Group Martha Rosas as Director Purchasing & Merchandising Asia. Now it has boosted its management talent further with a highly significant appointment.
MORE STORIES ON DUTY FREE AMERICAS
Long-time Luxottica executive Martha Rosas assumes Duty Free Americas post in Macau – 24/07/07
BAA Boston and Duty Free Americas prepare to unveil new Terminal E store at Logan Airport – 10/07/07
Picture Gallery: IAADFS Duty Free Show of the Americas – Parties & Product Launches – 25/04/07
Duty Free Americas pushes into Asia with big Venetian Macao-Resort opening – 10/02/07
