Travel retailer Dufry AG has been officially renamed Avolta AG, with the new brand identity said to “unify” the business following its Autogrill acquisition in February 2023.
Shareholders agreed to the change at an extraordinary general meeting in Basel on Friday 3 November. The equivalent of 66.36% of the shares were represented. The vote passed with a majority of 99.77%.
The name ‘Avolta’ comes from ‘vol’, the Latin word for ‘to fly’. It reflects both the company’s airport heritage and its ambitions to succeed.
In Italian, ‘Avolta’ means ‘from time to time’, which the business said shows its activities across borders and time zones. It also references its Mediterranean roots.
The new Avolta brand identity was first revealed in early October. The company said it forms part of its Destination 2027 strategy, in which it is looking to “create a travel experience revolution”.
At the time, CEO Xavier Rossinyol said Avolta demonstrated an “expanded vision” and a “commitment” to a traveller-centred experience.
“With Avolta we are more than ever one team, visually and operationally unified,” he said.
“Avolta translates our strategy into a common brand identity, reflecting our travellers’ needs and putting them at the centre of our focus and initiatives. Avolta stands for smart stores and advanced entertainment, digitalisation and omni-channel, hospitality and culinary, and the ultimate combination of the businesses.
“We are Avolta, and we are a unique, resilient and highly diversified company – with the aim to deliver reliable results for our shareholders and stakeholders.
“After many months of working on this beautiful brand together with our team, we are so happy to finally share it with the world. The travel experience revolution is in motion – Journey On!”
Avolta: To ‘soar high’
The derivation of Avolta is from ‘vol’ the Latin word ‘to fly’, underscoring the company’s airport heritage and ambitions to soar high.
In Italian, it means ‘from time to time’, indicating the ability to transcend borders and time zones in a nod to its Mediterranean heritage.
Avolta’s business portfolio spans retail, food and beverage (F&B) and digital, reaching around 2.3 billion passengers around the world.
The combined Avolta footprint spans 1,200 airports, motorways, cruise lanes, seaports, railway stations and other locations in 75 countries.
In its final financial statement under its Dufry name, Avolta last week reported nine-month revenues of CHF 9,578.9 million, up 24.8% year-on-year on an organic basis.
In a statement, it said the Autogrill integration was “advancing successfully”, recording in-year synergies of CHF 30m.
Xavier Rossinyol spoke candidly to TRBusiness last month about the birth of Avolta, the new brand identity set to be rolled out.