Hellenic Duty Free Shops
Corporate brand
UnclaimedHellenic Duty Free Shops is a Greek travel-retail operator with duty-free stores at airports, ports, and land-border crossings.
Last updated August 26, 2026
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Overview
Hellenic Duty Free Shops is a Greek travel-retail company established in 1979 to operate duty-free stores for travelers departing Greece. It began with two outlets at Athens' Eastern and Western airports and developed into the principal specialist retailer serving Greece's international travel infrastructure. Its outlets have traditionally been located beyond passport control, where travelers can purchase goods under the tax and duty arrangements applicable to international travel. The company's assortment has covered a broad range of travel-retail categories, including fragrances and cosmetics, alcoholic beverages, tobacco, confectionery, Greek food and specialty products, clothing, accessories, eyewear, luggage, souvenirs, toys, and consumer electronics. Its commercial proposition has combined internationally recognized brands with Greek products and a pricing structure designed for travelers. Following the end of duty-free sales for intra-European passengers in 1999, the business introduced a travel-value pricing policy across most categories, excluding tobacco and alcohol, absorbing taxes and duties with suppliers in order to preserve attractive prices for customers traveling within Europe. Hellenic Duty Free Shops became a listed company on the Athens Stock Exchange in 1998. Its ownership structure changed materially during the privatization process: in 2000, a 79 percent stake was transferred to the Agricultural Bank of Greece, and privatization was completed in 2006. The company also expanded beyond its core airport and border-shop activity. Hellenic Distributions, established around the beginning of the 2000s, served locations and channels that fell outside the parent company's original statutory scope, including personnel stores, public-access airport locations, arrivals areas, and ship supply. It subsequently became active in the distribution of tobacco, spirits, confectionery, and other branded products in Greece. The opening of the present Athens International Airport at Spata in 2000 created a major development opportunity. Hellenic Duty Free Shops opened four shops at the new airport and later expanded its presence there to multiple departures, arrivals, and free-zone locations. The company also renovated border stores, including the Kipi location, and upgraded airport and discount-store formats during the 2009–2011 investment period. Its broader Greek network was reported at 97 shops across 45 points of sale, comprising airports, ports, and land-border checkpoints. The business became part of a wider luxury, fashion, sports, and travel-retail group through the combination of Folli Follie, Hellenic Duty Free Shops, and Elmec Sport, completed at the end of 2010. The enlarged group included businesses such as Links of London and Elmec Sport, although those activities were distinct from the Hellenic Duty Free Shops retail network. In 2013, Dufry AG acquired the entire share capital of Hellenic Duty Free Shops. The company consequently became part of Dufry's international travel-retail platform, while the Hellenic Duty Free Shops name continued to identify the Greek duty-free operation in reference materials and commercial contexts. The brand has emphasized convenience, recognizable brands, Greek products, and the pleasure of shopping while traveling. Its customer-service initiatives have included participation in Athens International Airport's Best Price Guarantee program and airline-loyalty partnerships such as Lufthansa's Miles & More. A 2009 visual identity refresh retained the blue and the word "Hellenic" from the earlier identity while adding an orange shopping-bag handle and the slogan "The pleasure of travel." The company has also described community donations, recycling initiatives, employee programs, and support for welfare institutions as elements of its corporate-responsibility activity.
History
Hellenic Duty Free Shops was founded in 1979 to supply duty-free goods to travelers leaving Greece through international border points. Its first two stores operated at Athens' Eastern and Western airports. The company later developed a national network covering airports, ports, and land-border crossings. A major structural change came in 1998, when the company was listed on the Athens Stock Exchange. In 1999, the abolition of duty-free sales for passengers traveling within Europe challenged the traditional operating model. Hellenic Duty Free Shops responded with a travel-value policy based on common discounted prices in most product categories. Tobacco and alcohol were treated separately, while the company and its suppliers absorbed relevant taxes and duties in order to sustain competitive prices. The first stage of privatization was completed in 2000, when a 79 percent stake was transferred to the Agricultural Bank of Greece. That year also brought the opening of the new Athens International Airport at Spata, whose commercial design provided room for larger and more contemporary travel-retail operations. Hellenic Duty Free Shops opened four stores at the airport and subsequently expanded its presence across intra-Schengen and extra-Schengen departures, the free zone, and arrivals areas. Hellenic Distributions was established around 2000 as a subsidiary to handle activities that the parent company's statutes did not permit it to undertake directly. These included stores for personnel, locations in common-access airport areas, arrivals stores, wholesale distribution, and ship supply. From 2005 onward, the subsidiary was active in ship supply and distributed products from a range of tobacco, spirits, confectionery, and other international suppliers in Greece. Privatization was completed in 2006. Hellenic Duty Free Shops also broadened its corporate group through the acquisition of Links London in 2006 and Elmec Sport in 2007. The latter operated sports, department-store, and outlet businesses in several southeastern European markets. In 2009, the duty-free company refreshed its corporate identity with a logo retaining the blue color and the word "Hellenic" while adding an orange shopping-bag handle and the slogan "The pleasure of travel." The three-way combination of Folli Follie, Hellenic Duty Free Shops, and Elmec Sport was completed on 31 December 2010, creating the FF Group. Within that structure, Hellenic Duty Free Shops remained the Greek travel-retail operating business, while other group companies represented jewelry, fashion, sports, department-store, and outlet activities. Between 2009 and 2011, the company reported investments of 31.2 million euros in refurbishments and improvements. These included airport stores and border locations such as Kipi, Evzones, Niki, and Promachonas. The company was reported to operate 97 stores at 45 points in Greece: 22 airports, 11 border checkpoints, and 12 ports. It sold beauty products, liquor, tobacco, confectionery, Greek foods, fashion, accessories, eyewear, travel goods, souvenirs, games, and electronics. It also participated in Athens International Airport's Best Price Guarantee program and airline loyalty initiatives. In 2013, Dufry AG acquired the whole company. Hellenic Duty Free Shops therefore became part of Dufry's global travel-retail network and continued as the Greek duty-free business associated with the Hellenic name.
- 2013
Acquired by Dufry
[1]Dufry AG acquired the entire share capital of Hellenic Duty Free Shops.
- 2010
FF Group combination completed
[1]The merger of Folli Follie, Hellenic Duty Free Shops, and Elmec Sport was completed at the end of the year.
- 2009
Corporate identity renewed
[1]A new logo introduced an orange shopping-bag handle and the slogan "The pleasure of travel."
- 2006
Privatization completed
[1]The company's privatization process was completed.
- 2000
Athens International Airport expansion
[1]The opening of the new Athens airport at Spata created a new platform for large-format airport retail, with Hellenic Duty Free Shops opening four stores.
- 2000
First privatization stage
[1]A 79 percent stake was transferred to the Agricultural Bank of Greece.
- 1999
Travel-value pricing introduced
[1]The company adjusted its pricing strategy after the end of intra-European duty-free sales.
- 1998
Athens Stock Exchange listing
[1]The company became listed on the Athens Stock Exchange.
- 1979
Company founded
[1]Hellenic Duty Free Shops was established to sell duty-free goods to travelers departing Greece, initially through two Athens airport stores.
Products and positioning
A Greek travel-retail specialist combining international brands, Greek products, and travel-value pricing in controlled-access locations serving departing passengers.
Fragrance and beauty
Beauty and cosmetics
The network's beauty offer includes branded perfumes, cosmetics, and related personal-care products. Airport stores were developed with dedicated beauty formats, including a store recognized by Duty Free News International for its new-beauty retail concept at Athens International Airport.
Alcoholic beverages
Liquor and spirits
Alcoholic beverages form a core duty-free category, spanning spirits and other drinks sold to eligible travelers. The category remained distinct from the company's general travel-value pricing policy after the 1999 changes to intra-European duty-free shopping.
Tobacco products
Tobacco
Tobacco products are sold through the travel-retail network and related distribution activities. Hellenic Distributions also handled wholesale and ship-supply activity involving tobacco brands in Greece.
Food and confectionery
Greek gourmet products
The assortment includes Greek foods, gourmet items, chocolate, and confectionery intended both for travelers seeking gifts and for visitors taking Greek specialties abroad. This category complements the international brand portfolio with products associated with Greece.
Fashion and travel accessories
Travel and lifestyle goods
Stores have offered clothing, accessories, eyewear, luggage, souvenirs, games, and electronic goods. Border discount stores also included branded clothing and footwear formats, extending the business beyond conventional airport duty-free categories.
Marketing campaigns
- 2009The pleasure of travel
Greece
The company introduced a refreshed visual identity built around an orange shopping-bag handle and the slogan "The pleasure of travel," presenting shopping as part of the overall passenger journey.
Outcome. The new identity became the principal expression of the company's refreshed retail image.
- Best Price Guarantee
Athens International Airport · Greece
Through Athens International Airport's Best Price Guarantee program, a traveler finding the purchased product cheaper elsewhere could receive twice the price difference.
Outcome. The initiative supported the company's value proposition and price confidence at the airport.
- Supplier of the Year
Greece
Hellenic Duty Free Shops established an annual recognition program for Greek and international suppliers that demonstrated commercial creativity, innovation, and strong performance.
Outcome. The program reinforced supplier relationships and highlighted innovation within the company's retail ecosystem.
Brand decisions
2013
Sell the company to DufryM&ABackground
Hellenic Duty Free Shops was operating as part of the wider FF Group when international travel retailer Dufry pursued ownership of the Greek duty-free business.
Action taken
Dufry AG acquired 100 percent of Hellenic Duty Free Shops.
Aftermath
The company became part of Dufry's international travel-retail platform.
2010
Complete combination with Folli Follie and Elmec SportM&ABackground
The three businesses were combined to create a broader group spanning travel retail, luxury accessories, sports, department stores, and outlets.
Action taken
The merger was finalized on 31 December 2010, with Hellenic Duty Free Shops serving as the legal vehicle referenced in the combination.
Aftermath
The resulting FF Group expanded the company's corporate context beyond Greek duty-free retail.
2009
Refresh the corporate identityStrategyBackground
Management considered a renewed public image necessary as the company modernized its retail network.
Action taken
A new logo retained the blue color and the word "Hellenic" while adding an orange shopping-bag handle and a travel-oriented slogan.
Aftermath
The identity positioned the company as a contemporary travel retailer while preserving continuity with its Greek heritage.
1999
Adopt travel-value pricing after intra-European duty-free abolitionOtherBackground
The European policy change ending duty-free sales for passengers traveling within Europe threatened the relevance of the traditional duty-free model.
Action taken
The company introduced single discounted prices across most product categories, with tobacco and alcohol treated separately, and shared the burden of taxes and duties with suppliers.
Aftermath
The policy allowed the Greek network to retain a special-price proposition for travelers despite the regulatory change.
Recent events
Reported
Harley-Davidson raises 2026 guidance for HDMC and HDFS[2]
Harley-Davidson announced that it was raising full-year 2026 financial guidance for HDMC and HDFS. The revised outlook included HDMC operating income of $25 million to $55 million and HDFS operating income of $60 million to $70 million.
Sources2 sources
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