Hellenic Duty Free Shops SA, founded in 1979, is a Greek company in the travel retail industry. The company holds the exclusive right to the retail sale of duty-free goods in Greece.
It has a network in Greece, composed of 97 shops at 45 points (22 airports, 11 border checkpoints, and 12 ports).
History
1900s
The company was founded in 1979 to provide duty-free goods to travelers leaving through Greek border checkpoints. Two shops were launched, one at the Eastern, and one at the Western Airport in Athens, Greece. In 1998 "Hellenic Duty Free Shops" was listed on the Athens Stock Exchange.
The abolition of the sale of duty-free goods to passengers travelling within Europe in 1999 was a crucial point for the future of duty-free shopping. By adopting single discount prices (travel value policy) in all product categories (with the exception of tobacco and alcohol), the company maintained its special prices by absorbing, along with its suppliers, taxes, and duties. In 2000 the first stage of privatization was completed with the transfer of a 79% stake to the Agricultural Bank of Greece (ATE).