Hudson Group
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Travel Retail |
| Founded | 1918 |
| Headquarters | East Rutherford, New Jersey, U.S. |
Number of locations | 970 |
Areas served | United States, Canada |
| Products | Consumer Goods |
| Parent | Dufry AG |
| Website | www |
Hudson, one of the largest travel retailers in North America, is a wholly owned subsidiary of international travel retailer Dufry AG of Basel. Based in East Rutherford, New Jersey, United States, the company operates more than 970 Hudson, Hudson News, Hudson Booksellers, cafes, specialty retail and duty-free shops in 87 airports and transportation terminals in the United States and Canada.
The company's holdings include Hudson News, the world's largest operator of airport newsstands.[1]
History
In 1918, Isaac Cohen founded Hudson County News in Bayonne, New Jersey. In 1947, under the leadership of Robert B. Cohen, Hudson County News began delivering magazines in Hudson County, New Jersey.
In the 1980s, Cohen took over a bankrupt newsstand operator the company was supplying at Newark Liberty International Airport. In 1987, he set up the first branded Hudson News store in LaGuardia Airport. This led to the acquisition of other stores in airports by the Cohen family. This was a separate subsidiary from Hudson News Distributors also owned by the Cohen family.
In 2008, private equity firm Advent International acquired the Hudson Group, and merged Swiss duty-free retailer Dufry of Basel, Switzerland with the Hudson Group. Under the terms, Hudson Group became a wholly-owned subsidiary of Dufry. The Cohen family retained ownership of Hudson News Distributors.
In 2011, Hudson Group was given responsibility for all of Dufry's duty-free operations in North America, expanding its travel retail scope.[citation needed]
Later, in 2013, Hudson Group debuted the new “Hudson” travel essentials concept, which had evolved from its "Hudson News" roots to focus on travel essentials. Over time, Hudson Group's retail portfolio expanded even further, and it is now one of the largest travel retailers in North America.[citation needed]
In February 2018, Hudson Group was listed on the New York Stock Exchange under the ticker symbol ″HUD″.[2]
On November 25, 2019, Hudson Group rebranded to Hudson. To promote the rebranding the executive team rang the closing bell at the NYSE.
In August 2020, Hudson announced that Dufry AG has agreed to purchase the rest of its Hudson Ltd worth around $311 million which will delist Hudson from the New York Stock Exchange.[3]
Locations
The Company operates more than 970 stores throughout North America, mainly in airports and commuter terminals. Hudson News operates in 24 of the 37 busiest airports in North America.
Reflecting its roots in the New York metropolitan area, the company also operates stores in New York Penn Station, Newark Penn Station, Grand Central Terminal, the Port Authority Bus Terminal, the United Nations Gift Centre inside United Nations Headquarters (not to be confused with the UN's own bookstore), the Jacob K. Javits Convention Center, and the Empire State Building.[citation needed]
In 2016, Hudson Group expanded its footprint to also operate retail outlets in Las Vegas hotels.
In 2013, Hudson Group opened 13 specialty retail stores in LAX's Tom Bradley International Terminal (TBIT).[4][5]
References
- ^ Newman, Richard (2012-02-01). "Robert Cohen, Hudson News magnate, dies at 86". The Record (Bergen County). NorthJersey.com. Archived from the original on 2012-05-31.
- ^ "Dufry AG Announces Closing of Hudson Ltd.’s Initial Public Offering". Press release, Dufry AG. 6 February 2018.
- ^ "Dufry to buy rest of Hudson unit in $311 million deal". Reuters. 2020-08-19. Retrieved 2020-08-20.
- ^ "Hudson Group Debuts 19 New Airport Stores at Preview of LAX's Tom Bradley International Terminal". PRNewswire. Jun 21, 2013. Retrieved 2019-11-25.
- ^ Weikel, Shan Li, Dan (25 February 2015). "Retailer Kitson may be out at LAX after fight with Hudson Group". Los Angeles Times.
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