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Hans-Kristian Hoejsgaard, President and Chief Executive Officer, Oettinger Davidoff: “The biggest advantage of family ownership is the long-term view that family involvement over four generations brings.”

The passionate family-owned brands present in travel retail bring a distinct level of vision and innovation to the sector. A hallmark of their businesses is long-lasting relationships with customers and partners.

Oettinger Davidoff is a family company of tobacco brands anchored around Davidoff. “The biggest advantage of family ownership is the long-term view that family involvement over four generations brings,” Hans-Kristian Hoejsgaard, President and Chief Executive Officer, Oettinger Davidoff, commented. “In the premium and luxury business you build brands for the long-term, and you can stick to the long-term strategic plan signed-off by the family without having to answer to the quarterly pressure that publicly listed companies are under. Also, we can make very quick decisions, in particular financial ones, as we have no debt and are self-financing.”

Indeed, quick decision-making was also highlighted by Leonor Greyl CEO Caroline Greyl as allowing the company to maintain a certain consistency in its choices, while also allowing some flexibility. “The family dimension also creates a very special connection with our customers, making them even more emotionally involved with our products,” she said.

Zino Davidoff and Dr. Ernst Schneider, founder of Oettinger Davidoff AG.

Leonor Greyl, which creates hair care products using plants and natural ingredients, endeavours to build long-term and trust-based relationships with its partners. “Family values are the connective tissue of Leonor Greyl and the source of our longevity,” Greyl explained. “Based on expertise, passion and a unique quality approach, we’ve developed progressively, always considering our brand image first over turnover opportunities. This long-term development strategy, inherited from my parents, made us a key market player with a unique selective positioning, synonymous with outstanding know-how and beauty worldwide.”

Caroline Greyl, CEO, Leonor Greyl: “Family values are the connective tissue of Leonor Greyl and the source of our longevity.”

Oettinger Davidoff has, similarly, always believed in long-lasting relationships with its customers and partners. “A family business is eventually more likely to work harder to maintain its reputation and build good relations with its customers, simply as a matter of pride, as the family name is often above the door,” Hoejsgaard added. “In the case of Oettinger Davidoff, the name of our flagship brand – Davidoff – is also included. All this may also lead to having more loyal employees than maybe in other types of companies.”

Meanwhile, Waldemar Behn, a family distiller since 1892, is today owned and managed by the fourth generation. Echoing the sentiments of Greyl and Hoejsgaard, Rüdiger Behn, Managing Director, Waldemar Behn, commented: “As a family-owned and managed company we do have two major advantages compared with listed companies: All decisions are based on a long-term perspective and we can decide faster, even in strategic issues if necessary.”

Rüdiger Behn, Managing Director, Waldemar Behn: “As a family-owned and managed company we do have two major advantages compared with listed companies: All decisions are based on a long-term perspective and we can decide faster, even in strategic issues if necessary.”

Waldemar Behn’s values are communicated to the family members, as well as to all employees. These values have given the company a clear direction and orientation, and are a major factor behind its success for over 100 years.

The family dimension clearly instils an intrinsic set of values in each of these companies, contributing to their success across the generations. The common themes are that family ownership enables a faster decision-making process, alongside a genuine long-term perspective with strong partner relationships at its heart.