A GLOBAL AMBITION ANNuAL REPORT 2006 - Dufry

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uSINESS DESCRIPTIoN Dufry Annual Report 2006 — Business Description Serving customers around the world: anywhere – anytime Dufry is one of the world’s leading travel retail companies, operating over 440 shops with more than 79,000 m 2 of retail space in 37 countries around the globe. Our customers are travelers from throughout the world and this makes our business something special. Our shops and assortment are designed to make our customers feel at home and at the same time give them the excitement of being abroad. Therefore, Dufry works with more than 1,000 suppliers and the list includes all global and luxury brands as well as producers of local specialties. We manage all of our operations directly and staff every shop with our own employees, in order to be as close to the customer as possible. Thanks to this, our local staff has an in-depth understanding of our customers and can provide direct customer feedback, which we use to further improve our assortment and services, not only in the respective location but across Dufry. Depending on the location, we use three different retail concepts to fully capitalize on the existing opportunities: — General Travel Retail In these shops, we offer a wide range of product categories like perfumes, cosmetics, wines, spirits, tobacco, food, watches, jewelry, accessories, and others. Our customers have access to duty-free and / or duty-paid shops, depending on their destination. We operate duty-free departure shops, located at the restricted departure area of international airports and, in certain countries and locations we also operate duty-free arrival shops, located in the restricted arrival areas of such international airports. — brand boutiques These boutiques have an assortment of one specific brand and are fully operated by Dufry with our own staff. Brand boutiques operated by Dufry include prestigious names such as Bulgari, DKNY, Dolce & Gabbana, Etro, Ferragamo, Hermès, Kenneth Cole, Mont Blanc, Versace or Zegna. — Specialized Shops These are boutiques specializing in one specific type of product, offering a variety of different brands, like cigar shops, jewelry and watch shops, chocolate stores, etc. Our sales persons are at the heart of our business and it is their contribution every day that makes the difference for our customers. However, we complement their service with additional marketing techniques, which help our customers to identify the products they want and to demonstrate new products they may not know. The range of instruments includes displays, promotions, tasting, leaflets, loyalty programs or gifts. We also give our suppliers the opportunity to position their brands in an optimal way by providing advertising space within our shops. Recognizing the fact that some travelers desire to plan their duty-free purchases in advance, Dufry South America also established an internet pre-order system on their website, which is often used by customers traveling abroad.
NuMbER oF ShoPS LoCaTED aT As of December 31, 2006 Dufry Annual Report 2006 — Business Description Airports 287 Cruise liners and seaports 72 Downtown, hotels and resorts 64 Railway stations and other ToTaL 21 CoNCESSIoN CoNTRaCTS Breakdown of net sales 2006 by duration of contracts 9 + years 34 % 6 – 9 years 39 % 3 – 5 years 20 % 1 – 2 years 7 % The world of Dufry We focus our development around three strategic areas, namely the Mediterranean Basin including Southern Europe and Northern Africa, Latin America & the Caribbean and the Asian Corridor reaching from Moscow to the South East Asian region. Hence, each of our five regions is part of one of these areas. This allows us to maintain our diversified portfolio and also puts all the resources to the further development of our Group. — Europe We have a strong position in Southern Europe with operations in Italy, Spain, France and Greece. Furthermore, we also operate shops in Switzerland and the Netherlands. — africa Our prime position in Northern Africa is based on our operations in Tunisia, Morocco, Algeria and, as of 2007, in Egypt. We also have shops in Ghana and Ivory Coast. — Eurasia Our most important operations in this region are located in the Russian Federation, Singapore, and the United Arab Emirates. The region also includes our operations in Cambodia, Serbia, Belarus, and since February 2007, in Hong Kong. — North america & Caribbean We are the leading travel retailer in the Caribbean with presence in all major islands including Aruba, Antigua, Bahamas, Barbados, Bonaire, Curaçao, Cayman Islands, Dominican Republic, Grand Turk, Grenada, Jamaica, St John, St Lucia, St Maarten, St Thomas and Trinidad, and since the beginning of 2007, Puerto Rico. On top of this, we have a strong presence in several Mexican airports and also operate shops in Nicaragua and the USA. — South america We are present in the major airports in Brazil, have stores in Bolivia and operate shops on-board of cruise ships of Norwegian Cruise Lines.
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A GLOBAL AMBITION ANNuAL REPORT 2006 - Dufry

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