IRELAND. Barry Gibson, the former group retail director of BAA and the mastermind of the “High Street to Heathrow” retail revolution that transformed UK airport shopping, has taken a stake in fast-growing duty free company Genesis Distribution and becomes chairman of the board.
Gibson, arguably the most influential figure in the global duty free industry during his nine years with BAA, left the company in 1997. After a period as chief executive of UK high street retailer Littlewoods, his current responsibilities include being deputy chairman of bookmaking firm William Hill and chairman of the Retail Trust, a major UK retail charity.
Genesis (www.genesisdistribution.com) started business in 2001. It was formed by directors David Spillane and Gary Bond, both formerly senior executives with Nestlé, with venture capital backing. It specialises in global distribution of consumer products to travel retailers worldwide, currently focusing particularly on confectionery and entertainment-related items.
Genesis distributes brands on behalf of global brand owners such as Warner Bros, Mattel, Cadbury, Perfetti van Melle and Seiko.
Spillane told The Moodie Report: “We’re delighted that a man of Barry Gibson’s reputation and experience has decided to join us. With his acumen and business knowledge, he will bring us to the next level.
“We’re particularly delighted that he has seen enough potential in the business to invest in it,” Spillane added. “The key is that he knows the travel retail market so well and he buys in to our strategy of linking with worldwide brands and focusing on the entertainment and confectionery sectors.
“It’s a perfect fit,” said Spillane. “Barry gives us the retailer perspective and know-how, in terms of product offer, development and margin understanding. Going forward we want to have a much more retailer-savvy approach which he can deliver. It’s really putting down a marker for Genesis in terms of how we plan to develop the business.”
Barry Gibson told The Moodie Report that he was impressed with the company’s management and strategic direction. “I’m investing in Genesis personally alongside the existing shareholders. The company has had a tough but successful first two years and has the backing in place.
“I’m going to give it a lot of energy” he added. “I’ll help them in a number of key areas. For example, one area I have been involved in was the decision to relocate the distribution operation to Ireland which will improve our response times, flexibility and overall performance.
“The company is in a very good sector – the kid’s and confectionery market. The kid’s area within the travel retail market has not really had enough attention paid to it. I think these are the biggest growth areas even though they are quite small relative to other sectors.
“Also both the guys have the right background, they know and understand the key areas, particularly with relation to product licensing, for example with Barbie and Warner Bros.”
Gibson said he was looking forward to being a “father figure” to the entrepreneurs, bringing in further business disciplines and helping to develop the company. He said he retained his former optimism about the duty free and travel retail business, adding that it was perhaps the only industry that, despite its short-term shocks, could virtually guarantee protracted 4-6% compound growth per annum.
He said his retail expertise would be particularly useful in terms of Genesis meeting retailer expectations. “It’s all about understanding the customer,” he said. “You have to respond to the buyers’ requirements”¦ so it’s a matter of bringing a real customer insight into what Genesis is doing.”
As a result of that approach, Genesis is launching the Barbie confectionery tube, Gibson said. “They had a range of accessories, so why not put together Barbie accessories and confectionery? I can’t think of any other confectionery that is aimed purely at girls.”
