New name for World Duty Free Americas as Falic Group reveals first plans

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Exclusive: By Martin Moodie

Miami-based Falic Group is to rename World Duty Free Americas as Duty Free Americas (DFA), following the $121m acquisition of the BAA subsidiary on October 11.

In the company's first interview since the shock acquisition, newly-appointed DFA president Leon Falic vowed neither to break up the company nor to become involved in the grey market. The candid interview is included in the special Cannes show issue of Duty-Free News International, out this weekend.

The Falic Group is a family-owned company with long-standing interests in the beauty business. The three Falic brothers, Simon, Jerome and Leon, are well known to most beauty houses, principally through their long involvement with US domestic discount store chain Perfumania, a business they have now exited.

Leon Falic told TRW he understood supplier concerns that a company with a background in domestic discounting was entering duty-free. But he added: "We understand their [supplier] concerns and that is why we will be more sensitive to them. We have paid  $121m, so we are not going to jeopardise the industry, or the company in any way, shape or form."

Confirming the departure of former WDFA president and ceo Ramon Bosquez last Friday, Falic said he hoped to retain other management. "We are going to keep the management that we have...they have a tremendous value to the business." Simon Falic becomes chairman of Duty Free Americas and Jerome Falic is named ceo.