In 2013, WDFG's duty free contract at the world’s third busiest gateway generated more than 20% of the firm’s revenues, and it takes the contract concession it has at Heathrow up until November 2026.
According to investment bank Nomura, WDFG has paid £10 million ($16 million) for the extension, and as part of the agreement it has also made a commitment to make an additional €40 million capital investment over the extended contract.
WDFG recorded sales of €455.6 million at Heathrow in 2013, which represented 46.7% of the group's total revenue in the UK and nearly 22% of the global sales, from the 38 stores it operates, which includes a mix of specialist retail and core category stores.
Reports also claim the Italian firm says it plans to cut costs by an additional €25 million to €30 million through closer integration of its Spanish and British operations, a switch over to a single IT system and a more efficient warehouse network.
WDFG has operated at Heathrow since 1997.