NEWS ROUND-UP Richemont moved for 5% Dufry stake in May
of Dufry. At the time of writing, Dufry’s share price
had risen +6.41% to a high of CHF171. “We were informed by Richemont
Swiss luxury goods company Richemont has harnessed a 5% stake in global travel retail’s Dufry Group, TRBusiness can confirm. Direct shareholder Richemont Luxury
Group Ltd, St. Heller, Jersey has claimed 2,693,586 in rights and voting rights with the percentage share of voting rights standing at 5.0000001%, a transaction on the Swiss (SIX) Exchange Regulation showed mid-May. The beneficial owner/persons that can
exercise the voting rights at their own discretion is Compagnie Financiere Rupert, Bellevue, Geneva, Switzerland. The news follows Chinese conglomerate HNA Group’s acquisition of a 16.79% share
according to the SIX Swiss Exchange regulations and obviously as part of our long-standing business partnership,” said a spokesperson from Dufry Group. Confirming the listing, Richemont group
told TRBusiness that the transaction had taken place to give access to good locations with the anticipated increase in travelling. Established in 1988, the Richemont
Group’s holding company Compagnie Financière Richemont SA presides over some of the world’s leading luxury firms covering jewellery, watches, premium accessories and other superior products. Its businesses include Vacheron Constantin, Purdey, Cartier,
IWC
Schaffhausen, Alfred Dunhill, Van Cleef & Arpels, Montblanc, Chloe and Shanghai Tang. “Richemont is seeking to enter the travel retail segment, which offers high growth
AOT concession revenues up by 6.49% across Thai airports Non-aeronautical revenues accounted for 43% of the total generated by Airports of Thailand (AOT) within its HY1 fiscal year period, at the country’s 38 airports (October 2016 to March 2017). These include the most significant civil
aviation airports of Suvarnabhumi and Don Mueang in Bangkok, plus AOT’s four regional airports handling international traffic, including Chiang Mai, Phuket, Hat Yai and Mae Fah Luang-Chiang Rai. Over the six-month period the two main
airports of Suvarnabhumi and Don Mueang respectively handled 29.9m passengers (+4.36%) and 18.5m (+7.47%). Concession revenues for the six
months, including those from King Power International Group (KPIG), came in at Bht27,277.86m (+6.49%) as net profits over the same period were recorded at Bht11,496.13m (+14.26%). At
the same time, EBITDA was reported at Bht17,066.87m (+6.37%). In a statement, Airports of Thailand
said: “The overall aviation industry of Thailand during October 2016 to March 2017 improved compared to the same period last year. “The number of Chinese tourists who
visited Thailand has recovered after an extreme decline around the end of the year 2016 as a consequence from the repressive measures against illegal tours by the government.”
rates, moreover the traveller’s profile is very attractive for the luxury goods industry,” commented Bank Vontobel analyst Jean- Philippe Bertschy.
Strong contract lengths buoy Flemingo growth in India
Flemingo International has praised Mumbai Duty Free’s latest fashion contract victory at Chhatrapati Shivaji International Airport (CSIA) as the springboard for continued double-digit growth gains across the retailer’s Indian subcontinent business. Speaking exclusively to TRBusiness
following an official press event during the TFWA Asia Pacific Exhibition & Conference, Flemingo International Group Chief Executive Officer Atul Ahuja cited growth of +7.5% year-on-year through its Mumbai Duty Free brand. “It’s a great time for India and the right
time to expand and have a substantial part of the market share. Our average contract length in the Indian subcontinent is nine years, which is a good position to be in.” Ahuja confirmed that Flemingo
International’s India business has also witnessed a CAGR of +26% year-on-year for the past three years, with the retailer looking at that figure for the next four to five years. Addressing press during the event,
Paul Topping, Director/Board Member, Flemingo [pictured below] said the company’s contract coups at Mumbai and Sri Lanka, [Flemingo emerged victorious in a tender to operate the expanded core duty free concession at Bandaranaike International Airport (BIA)–Ed] indicates that it is ‘our time in India’.
the re-oxygenating
CHARCOAL + OXYGEN
activated charcoal paired with a burst of fresh oxygen
impurities are out, fresh oxygen is in. immediately skin looks brighter and pores look decongested.*
*4-week self-assessment study, 48 women ages 20-35 using the product 3x per week.
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