Falic Group Agrees to Buy DFS Luxury Retail Business at Zayed International Airport
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ABU DHABI, August 20 (Saudi Arabia Breaking News) — Miami-based Falic Group has agreed to acquire 100% of DFS’s luxury travel retail business at Zayed International Airport in Abu Dhabi, establishing a major regional operation for Duty Free Americas.
Financial terms were not disclosed. The transaction is expected to close in the third quarter.
Zayed International Airport, the second-largest airport in the United Arab Emirates, can handle up to 45 million passengers annually. It recorded 32 million travellers last year.
Falic Group said the acquisition would give Duty Free Americas “an immediate, scaled presence in one of the Middle East’s faster – growing travel retail markets, accelerating its luxury retail and regional growth strategy, establishing a strong platform for future expansion in the Middle East and Africa”.
The concession includes retail operations across luxury and contemporary fashion, watches, jewelry and sunglasses, according to Falic Group.
The airport’s website lists Balenciaga, Boss, Bally, Bottega Veneta, Burberry, Bulgari, Coach, Gucci, Hermes, Kenzo, Omega, Saint Laurent, Ferragamo and Zegna among the luxury banners operating in its terminal.
“Plans include the incorporation of new flagship brands and expanded footprints for existing top-performers, as well as innovation open – air retail areas which will promote a more flexible passenger experience and drive conversion”, Falic Group said.
Carsten Norland, Chief Commercial Officer of Abu Dhabi Airports, said Falic Group “brings global travel retails expertise that will help us deliver a more dynamic and value – driven environment, aligned with the evolving expectations of our passengers and our long – term commercial ambitions”.
The transaction continues a series of changes involving the travel retail holdings of LVMH Moet Hennessy Louis Vuitton.
Earlier this year, LVMH agreed to sell its Los Angeles and San Francisco airport concessions to Duty Free Americas and DFS Okinawa to Swiss travel retailer Avolta. The group also sold its Greater China travel retail division to China Tourism Group Duty Free.
“We’ve sold most of our [duty free] assets, and I expect we’ll continue to divest gradually”, LVMH Chairman and Chief Executive Officer Bernard Arnault said during a January call concerning the group’s 2025 results.
Falic Group operates more than 370 stores across 38 countries. Its earlier transactions with LVMH included the acquisitions of Hard Candy and Urban Decay in 2002 and Christian Lacroix in 2005. The group sold Christian Lacroix to Spain’s Sociedad Textil Lonia last year.
Source: WWD
