Overview
3Sixty Duty Free, formerly known as the DFASS Group, is a leading entity in the travel retail industry. Founded in 1987 by Bernard "Benny" Klepach, 3Sixty specializes in offering a range of duty-free and travel retail options globally. The company has grown significantly with a presence in in-flight and airport retail operations, setting the standard in the duty-free sector.
Key Executives
- Bernard “Benny” Klepach: Founder, Chairman, and CEO. Klepach's vision and leadership have transformed 3Sixty into the largest in-flight duty-free enterprise worldwide.
- Alexander Anson Esparza: Chief Operating Officer. Oversees operations with emphasis on expanding airport opportunities in the Americas.
- Philip K. Hancock: Chief Financial Officer. Joined 3Sixty in 2017 and became CFO in 2018, playing a crucial role in financial management and growth.
- Mark Mariani: Vice President of Business Development. With over 20 years in travel retail, Mariani plays a key role in expanding market presence.
- Roberto Graziani: Executive Vice-Chairman. Contributes strategic insights and partnerships with extensive industry experience.
- Carsten Schlimm: Chief Information Officer.
- Sam Barakat: VP Supply Chain.
- Donna Maxwell: SVP Global Retail Operations.
Business Model and Services
3Sixty Duty Free engages in multiple business segments such as airport and cruise port retail, and onboard duty-free shopping. The company employs advanced technology to provide exceptional retail experiences for international travelers. Strategic partnerships, innovation, and service excellence are central to its business model, contributing to its competitive advantage and market dominance.
Financial Performance and Investments
The company had an estimated annual revenue of $43.9 million with a revenue per employee of $249,700 as of the last report, employing 176 individuals with a 10% growth in staff numbers over the past year. 3Sixty has raised $105 million in funding and solidified a strategic partnership with Hotel Shilla, which acquired a 44% stake in the company in 2019. These investments have fueled the growth of their duty-free operations and enhanced digital infrastructure.
Recent Developments
- New Store Launches: Continued expansion with new outlets, notably at Ontario International Airport, California as of September 2023.
- Contracts and Partnerships: Secured a significant inflight duty-free contract with Thai Airways and established a strategic alliance with Pilgrim Jewelry at Newark Liberty International Airport.
- Industry Recognition: Recognized for industry best practices, serving over 400 million travelers annually, reaffirming its leading position in global travel retail.
Strategic Vision
3Sixty Duty Free aims to remain at the forefront of travel retail innovation. The company is committed to enhancing its market presence and providing superior customer engagement experiences, while reinforcing long-term partnerships with customers and suppliers.
Competitive Analysis
Top Competitors
3Sixty faces competition from various players in the travel and retail sectors:
1. DFASS Group - Maintains strong links in the duty-free space.
2. Stellar Partners - Direct competitor in airport retail.
3. Duty Free Americas - Competes primarily in the Americas.
4. World Duty Free Group - A significant global player in travel retail.
Other notable competitors include niche market participants like Audi North Orlando and National Assemblers, who provide benchmarks for revenue and growth.
Industry Position and Strategy
3Sixty differentiates itself through strategic expansion into airport retail and onboard services, offering comprehensive solutions beyond traditional duty-free operations. The rebranding from DFASS to 3Sixty marks a commitment to providing full-spectrum travel retail solutions.
Explore more about their endeavors on their [website](https://www.3sixtydutyfree.com/about-us/).
