Hellenic duty free shops
Encyclopedia
Hellenic Duty Free Shops is a Greek travel retail company that has had since 1979 the exclusive right for selling duty free products at all exits of Greece
, including air, sea or land.
The firm is a member of Folli Follie Group of companies, also comprised by the Folli Follie S.A
and Elmec Sport S.A, retail
companies. Hellenic Duty Free Shops possesses the two subsidiaries Hellenic Distributions S.A and Links of London LTD.
.
In 1999, the European Commission decided on the abolition of duty free sales to passengers travelling within the EU. This directive created a new status for the travel retail sector and a great challenge for the company. The company took this event as an opportunity and introduced to its stores “travel value” goods: providing goods in reduced prices by absorbing duties and taxes.
In 2000, the state decided to privatize the company.
In 2000, Greece entered the Schengen Agreement, while in 2001 Athens International Airport(AIA) was transferred to its current location at Spata, Attiki. The new and improved airport was designed according to modern airport shopping center standards; today the firm operates 26 shops at that airport: 11 in the Intra-Schengen area, 9 in the Extra-Schengen area, 3 in the free zone and 3 in the arrivals area.
In 2006, Folli Follie, acquired an additional 25% of the shares from Germanos S.A. The companies Links of London LTD and Elmec Sports S.A. was acquired in 2006 and 2007 respectively, while Hellenic Distribution S.A. was established in 2001.
In 2010, a three-way merger between HDFS, the Folli Follie jewellery and watches group, and the Elmec Sports clothes retailer combined the companies within HDFS.
In the firm's 2009-2011 investment plan, € 5.1 million was made available in 2009 to implement the ‘duty free mall concept’ at company level. As part of this move, the perfumes, cosmetics and Folli Follie, Hellenic Gourmet, Cava and Luxury stores at Athens International Airport were revamped. The Kipi Border Station was also redeveloped to provide a complete range of services and now includes leisure facilities, parking spaces and restaurants for travelers crossing the border. As part of this, the discount stores that operate at Kipi, Evzoni and Promachonas were also renovated, and now sell previous season’s clothing and footwear at reduced prices.
New shops are planned for several of Greece’s ports, airport and border stations. The company also inte3nds to develop beyond Greece's borders, so that the company can acquire an international foothold at international airports.
In the near future it intends to inaugurate two more departments. The first one is to be situated in central Athens; the second one is located in the centre of Bucharest, Rumania.
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
, including air, sea or land.
The firm is a member of Folli Follie Group of companies, also comprised by the Folli Follie S.A
Folli Follie
Folli Follie Group is a Greek-based international company which designs, manufactures and distributes jewellery, watches and fashion accessories. Through its subsidiaries it also operates duty-free shops and sporting goods retail outlets.-History:...
and Elmec Sport S.A, retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
companies. Hellenic Duty Free Shops possesses the two subsidiaries Hellenic Distributions S.A and Links of London LTD.
History
The firm was launched in 1979 as a state-owned company, providing duty free goods to travelers passing though the Greek borders. Originally, there were only two shops at the old Athens International Airport at Hellinikon. The network expanded, and, in 1998, the firm was conceded the right of providing duty free products at all exits of Greece for a 50 year period, leading to further expansion. The company has become one of the largest Greek retailers in the Greek market, and the largest retail company listed in the Athens Stock ExchangeAthens Stock Exchange
The Athens Stock Exchange or ASE or ATHEX is a stock exchange located in Athens, Greece.-History:The Athens Stock Exchange started trading in 1876. The Athens Stock Exchange is a subsidiary of Hellenic Exchanges S.A., whose shares are listed in ATHEX...
.
In 1999, the European Commission decided on the abolition of duty free sales to passengers travelling within the EU. This directive created a new status for the travel retail sector and a great challenge for the company. The company took this event as an opportunity and introduced to its stores “travel value” goods: providing goods in reduced prices by absorbing duties and taxes.
In 2000, the state decided to privatize the company.
In 2000, Greece entered the Schengen Agreement, while in 2001 Athens International Airport(AIA) was transferred to its current location at Spata, Attiki. The new and improved airport was designed according to modern airport shopping center standards; today the firm operates 26 shops at that airport: 11 in the Intra-Schengen area, 9 in the Extra-Schengen area, 3 in the free zone and 3 in the arrivals area.
In 2006, Folli Follie, acquired an additional 25% of the shares from Germanos S.A. The companies Links of London LTD and Elmec Sports S.A. was acquired in 2006 and 2007 respectively, while Hellenic Distribution S.A. was established in 2001.
In 2010, a three-way merger between HDFS, the Folli Follie jewellery and watches group, and the Elmec Sports clothes retailer combined the companies within HDFS.
Operations & Stores
Today, the company operates a network of 90 shops at 45 locations at airports, border stations, and ports nationwide. Its shops are usually characterized by the blue colour with white and orange details.In the firm's 2009-2011 investment plan, € 5.1 million was made available in 2009 to implement the ‘duty free mall concept’ at company level. As part of this move, the perfumes, cosmetics and Folli Follie, Hellenic Gourmet, Cava and Luxury stores at Athens International Airport were revamped. The Kipi Border Station was also redeveloped to provide a complete range of services and now includes leisure facilities, parking spaces and restaurants for travelers crossing the border. As part of this, the discount stores that operate at Kipi, Evzoni and Promachonas were also renovated, and now sell previous season’s clothing and footwear at reduced prices.
New shops are planned for several of Greece’s ports, airport and border stations. The company also inte3nds to develop beyond Greece's borders, so that the company can acquire an international foothold at international airports.
Awards
- 2005: The “European Business Magazine – 2005” ranked the company in 7th place among the companies with the best return on equity.
Subsidiary Companies
- Hellenic Distributions S.A. was launched in 2001 as a subsidiary of Hellenic Duty Free Shops It is the leading company in the wholesaling of duty free goods in Greece. It distributes and promotes tobacco, wine, liquor, perfumes confectionery etc to ship chandlers, military forces, diplomatic shops and all types of vessels, securing distribution of international brands either for the ship candling or the domestic market. It has established a network of 23 stores in airports, ports, and vessels. Its headquarters are located in PiraeusPiraeusPiraeus is a city in the region of Attica, Greece. Piraeus is located within the Athens Urban Area, 12 km southwest from its city center , and lies along the east coast of the Saronic Gulf....
. - Links of London was founded in 1990 and acquired by the firm in July 2006. It is a widely recognized British jewellery, watches and luxury brand, operating stand alone boutiques and branded concessions in department stores at 66 points of sale world-wide. It has been awarded several times by the UK Jewellery Awards. It has been confirmed by the London Organizing Committee of the Olympic Games and Paralympics (LOCOG) that it will create the official jewellery collection of London 2012,.
- Elmec Sports S.A. was acquired by the company in October 2007. It is a commercial group with a network of 120 stores in Greece, Romania, Bulgaria and Cyprus. It is the exclusive distributor of the apparel and footwear of Nike in Romania and Bulgaria. Moreover, it owns the right to design and produce apparel bearing the Converse brand along with the right to distribute exclusively the apparel and footwear of Converse in Greece, Cyprus, Romania and Bulgaria. Also, it designs and produces the collection of apparel under the brand name of Harley Davidson and distributes them mainly in Greece and in the other European countries. It is the exclusive distributor of Juicy CoutureJuicy CoutureJuicy Couture is a contemporary line of both casual and dressy apparel based in Arleta, Los Angeles, California founded by Pamela Skaist-Levy and Gela Nash-Taylor in 1996...
, Patricia Pepe, Gas, UggUgg bootsUgg boots are a unisex style of sheepskin boots, made of twin-faced sheepskin with fleece on the inside and with a tanned outer surface, often with a synthetic sole....
, SamsoniteSamsoniteThe Samsonite Corporation makes luggage with its products ranging from large suitcases to small toiletries bags and briefcases. It was started in Denver, Colorado, USA in 1910 byJesse Shwayder, as the Shwayder Trunk Manufacturing Company. Shwayder named one of his initial cases "Samson", after the...
products in Greece. In addition to that, it operates “Factory Outlet”, “Factory Outlet Airport” and “Attica, The Department Store” which is the largest department store in the Greek market.
In the near future it intends to inaugurate two more departments. The first one is to be situated in central Athens; the second one is located in the centre of Bucharest, Rumania.