US: Maxxium to enter US duty free market
Maxxium Global Travel Retail is to enter the US duty free market on 1 July 2005, when it will take over responsibility for the brand portfolios currently represented by Future Brands Duty Free and DFDA, both companies owned by Maxxium`s shareholders.
A number of key steps have been completed in readiness for starting operations from 1 July 2005.
A new company, Maxxium Travel Retail Americas, has been incorporated and will be based in the Miami Lakes area of South Florida at the Spessard Holland Building, 8000 Governor`s Square Boulevard.
Key management appointments have been made. The business will be headed by Santiago Cash, who joins as regional director Americas in mid-May. Mimi Powe has been appointed as USA sales director and will transfer on 1 July from her current position with Future Brands Duty Free. Malcolm Smith transfers to Maxxium GTR Americas from Maxxium Mexico to take up the role of financial controller.
Recruitment of the sales and marketing team is almost complete and it is expected that it will be extensively staffed by current employees of DFDA and Future Brands Duty Free.
Maxxium`s managing director of Global Travel Retail, John Mangiacapra, said: "By combining the two premium brand portfolios of Future Brands Duty Free and DFDA, we will be even better placed to build our brands in the dynamic and progressive travel retail market. We at Maxxium and our shareholders view the integration of the existing two businesses as an opportunity to enhance the sales, marketing and back office resources dedicated to travel retail. This provides a great opportunity for both ourselves and our trade partners to build business together."
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