Gebr Heinemann and German airport operator Fraport have agreed to establish a new joint venture called Frankfurt Airport Retail (FAR), which will take over operations for all 27 Heinemann Duty Free and Travel Value Shops at Frankfurt Airport starting January 1, 2017. Both partners will retain a 50% stake in the company.
FAR will be the first provider to appear on Frankfurt Airport’s new online platform, which provides travelers with reservation and home delivery options for duty free goods. Passengers can order all goods online before their journey and have them delivered to their homes.
Raoul Spanger, executive director retail and HR at Gebr Heinemann, said, “The joint venture paved the way to react jointly and optimally to future developments in the international travel retail market and to the changing needs and demands of travelers, including the flourishing area of e-commerce. We are connected to Fraport by an outstanding, long-term collaboration that has existed since 1972 and has consistently been based on innovation, and we are delighted to be able to continue on with this in the highly promising joint venture.”
Karl-Heinz Dietrich, senior executive vice president retail and real estate at Fraport, said, “Thanks to the close cooperation and bundled expertise, we expect to further strengthen the retail business at Frankfurt Airport. With this decision, Fraport is taking on a portion of the commercial risk. This also opens up an opportunity for more profound value creation.”
Gebr Heinemann will incorporate approximately 750 employees into the new company with the existing employment contracts remaining valid. The management of the new company will be taken on by Johannes Sammann from Gebr Heinemann and Georg Fuhrmann from Fraport. Since 2012, Sammann has been responsible for the retail management of the Heinemann Duty Free Shops at Frankfurt Airport. Fuhrmann, a retail expert, has previously been responsible for commercial retail management at the airport.
