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Hellenic is targeting international expansion for newly acquired Links of London | |
GREECE/UK. Greek travel retailer Hellenic Duty Free Shops (HDFS) has said that it is targeting international expansion for newly acquired brand Links of London, with an emphasis on new retail locations in Asia.
At a joint press conference yesterday, following Links’ acquisition by HDFS subsidiary Hellenic Distribution in July, HDFS President George Koutsolioutsos said he expects new stores to open in China and Japan within six months, with further stores in South Korea and Taiwan to follow later in 2007. Links already has stores in Hong Kong and one in Japan. Koutsolioutsos said the move was part of a strategy to develop Links’ status as an international brand.
Links will soon feature in HDFS outlets in Greece, with space being allocated at Athens and Thessalonica airports.
Koutsolioutsos said the group could create synergies in the areas of product design, production and new market development. HDFS is majority-owned by Greek jewellery company Folli Follie.
HDFS said it expected Links sales to hit €58.4 million in the 17-month period from 1 August 2005 to 31 December 2006, after achieving sales of €33.3 million in the 12 months to 31 July 2005.
Links management Annoushka Ducas and John Ayton will remain in place. Koutsolioutsos said their know-how and experience of the jewellery market were invaluable in the group’s search for growth.
MORE STORIES ON HELLENIC DUTY FREE SHOPS
Hellenic acquires Links of London – 27/07/06
Germanos sells its 24.7% stake in Hellenic Duty Free Shops to Folli Follie – 05/05/06
Folli Follie profits up thanks to Asia and duty free – 03/03/05
Folli Follie concludes Hellenic Duty Free Shops deal – 19/10/03
