The World’s Top Travel Retailers Report (continued)
Dufry Group
2022 Sales (million)
€6,985
2022 Rank
2
Movement
△2
Long-time market number one Dufry Group – supplanted by China Duty Free Group in the first year of the pandemic – leaps back into second position in our rankings with turnover of €6,985 million (converted from Swiss Francs at 31 December exchange rates). That is down to a sharp recovery in sales, with organic growth at +76.1% year-on-year.
Like other travel retailers, Dufry benefited from the lifting of travel restrictions in many markets in Q1 and beyond, with US domestic and tourism markets in Europe and the Americas driving a welcome wave of sales growth after a difficult 2021.
Dufry, the great consolidating force in travel retail over the past two decades, recently made one of its biggest industry-defining moves, as its business combination with Autogrill (integrated from 1 February) creates a new retail to dining powerhouse. That will also likely influence the group’s positioning in these rankings from next year. Proforma, based on 2019 figures combined with Autogrill, turnover would be over CHF14 billion (€14.2 billion).
*Full commentary appears in our July/August Magazine edition.
London Heathrow remains a pivotal location in Europe for Dufry as travel recovery continues
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The Moodie Davitt eZine
Issue 325 | 2 August 2023
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