As the bid required a strong portfolio of key brands such as Estee Lauder, DFASS
said that it will be working closely with The Estee Lauder Companies to broaden the traditional range of beauty brand options.
CEO Benny Klepach commented, "We see this as a very exciting opportunity for the company.
We see this as a very exciting opportunity for the company," said DFASS
chief executive officer Benny Klepach.
An official of Hotel Shilla said : "We have been keeping an eye on the merger and acquisition market since DFASS Group was put on sale," .
The company reportedly appointed Goldman Sachs as a lead manager in late 2014 and had the investment bank enter talks with DFASS on its behalf for a potential acquisition.
DFASS CEO Benny Klepach also visited Korea in November to meet with Hotel Shilla officials.
The airline, Canada s largest full-service carrier had conducted a rigorous RFP Request for Proposals, DFASS said.
As per the newly extended contract, DFASS will use its wide network of brands and product resources to continue to uniquely merchandise the Air Canada Boutique, appealing to the needs and desires of the Air Canada customer.
We are confident that our new relationship with DFASS, a company with extensive experience in the Duty Free business, will continue that tradition of excellence.
Although our in-house program proved successful in the past, having DFASS manage our Duty Free program will allow us to focus more resources on returning the airline to profitability.
We are thrilled to be working with world leaders DFASS Group to provide a bespoke inflight shopping service for our guests, said Cowen, Inflight retail is a proven income generator for airlines and our outstanding cabin crew has been fully trained to provide the best customer service experience possible.
We are very proud to be working with HK Express, Hong Kong s first and only low-fare airline and we look forward to bringing our extensive experience in operating inflight duty free services to the partnership, said DFASS Group Deputy Chairman John Garner, We are certain that our joint business and expansion strategy will drive revenue offering a refreshing variety of excellent value products for guests of HK Express.