Company
Background

Duty Free Caribbean was formed in October 2000 and is a jointly owned company (40:60) by Cave Shepherd & Co. Limited and Dufry Limited (formerly Weitnauer Holdings Ltd). Duty Free Caribbean includes all of Cave Shepherd's retail business, a total of 66 stores in the islands of Antigua, Aruba, Barbados, Grenada, Jamaica, St. Lucia, St. Maarten, and Turks and Caicos; seven Harrisons stores in Barbados which were acquired in 2001; 16 Colombian Emeralds International stores in the islands of Barbados, Grenada, and St. Lucia as well as an interest in an additional 11 Colombian Emerald International stores in St. Lucia, St. Maarten, Aruba and Antigua.

The company is a broad and diverse operation, which covers a wide range of duty free product categories including its core travel retail categories of jewellery and watches, perfume and cosmetics and liquor and tobacco along with sunglasses, leather, cameras, electronics, music, designer clothing, sports goods, souvenirs and t-shirts.

This wide product range is managed by local and regional operators with a long and successful history of business and experience in the Caribbean region. The excellent contacts and relationships with government, partners and service suppliers provide an efficient and effective operating infrastructure. The combination of these strengths with a solid financial base, a wide product range and strategic retail locations, provides a platform to aggressively and profitably grow the business with any product type, wherever new opportunities may arise in the Caribbean.

In 1996, Cave Shepherd entered a joint venture partnership with Weitnauer America Trading Services Inc., (now Dufry) for the supply of liquor and tobacco products, which after just three years, grew to be one of the most profitable areas in the Cave Shepherd business. Based on the success of this partnership, Cave Shepherd and Weitnauer agreed to expand the relationship to create a much larger and stronger duty free company with real potential for significant growth and expansion throughout the Caribbean by maximising the combined strengths of its local, regional and global partners.