A duty to provide global support to high flying Avolta

“Avolta is a business that we have all experienced – one way or another.”

So said Andy Beane, HSBC’s Chief Commercial Officer for Corporate and Institutional Banking, about our client Avolta - owner of the eponymous World Duty Free brand ever-visible in airports worldwide.

“We’ve grown organically over 20 years from a valuation of CHF 700m ($771m) to around CHF 13bn ($14bn) today,” said Yves Gerster, Chief Financial Officer at Avolta.

The Swiss-headquartered company - which also owns a wide range of retail and food and beverage brands, including Autogrill, operates in more than 1,000 locations across over 70 markets worldwide.

“We’ve got a very strong relationship with Avolta,” said Mark Smyth, HSBC Global Relationship Manager.

“They’re a truly international business and brand, with an unrivalled presence and footfall in airports and other travel locations around the world.”

Our collaboration with Avolta spans almost 15 years, as long as we have had a presence ourselves in Switzerland.

“We helped them through Covid, when travel retailers – and the industry as a whole – ground to a halt,” Mark said. “That helped to deepen our relationship even further.”

Avolta’s business has over 5,000 physical points of sale across three areas – duty-free, convenience and food and beverage - in locations including airports, motorway service stations, cruise ships, ferries, railway stations, border shops and urban areas.

HSBC currently supports Avolta across its key regions, including Europe, Asia and the US with a wide range of financial solutions and acts as a trusted advisor on international expansion.

“We work with some incredible customers and partners of our own, including airports worldwide, while providing leading online and in-person solutions for our customers,” said Rebecca McClellan, Head of Investor Relations at Avolta.

“We’re focused on putting the traveller at the heart of everything we do. We have a ‘Destination 2027’ strategy, which is based around delivering a travel experience revolution, diversifying our geographical presence, fostering a culture of continual improvement and delivering on our ESG commitments.

“When it comes to supporting our international growth, HSBC’s expertise on the ground around the world helps us to navigate the markets we operate in, as well as those that we want to move into and expand within.

“This is something few other banks can provide in the same way – HSBC’s sheer international breadth and presence globally. It’s really impressive.”