Hellenic reveals expansion focus

Hellenic Duty Free Shops (HDFS) is to invest a further Eu3m-4m ($4m-5m) in its stores in 2005 following a year of major refurbishment in 2004. The firm told DFNI it is likely to open up to three stores in Greece and also that financial projections for 2005 would be announced at the end of February along with the financial figures for 2004.

HDFS investor relations manager Theodore Gitzos said that the company is expanding its product mix through an increase in fashion and sports apparel business maintaining however its focus on the key categories

Increased investment in marketing Greece's tourism sector is likely to drive passenger traffic at the airports in 2005. Gitzos explained: "The marketing budget is estimated to inflate from about Eu6m ($7.8m) to Eu55m ($71.4m) as the government has realised the importance of tourism to the country."

HDFS recently won the contract to supply the duty-free shops at Skopje and Ohrid airports with fragrances, cosmetics, liquor and cigars. The shops were formerly supplied by the state-owned company Public Enterprises of Airport Services Macedonia-Skopje.