NEWS ROUND-UP ARI profits rise in 2019; ‘hit badly’ in 2020


which operates Larnaca and Paphos Airports in Cyprus. Ray Hernan, CEO, ARI (left) said: “While


the increase in profits for last year is very welcome, our business has been badly hit by the collapse in travel due to Covid-19.” According to the company, all but one


of its retail outlets have been closed, while its supply business in Qatar continues to operate. ARI is taking action to mitigate against


Aer Rianta International (ARI) reported increased profits across its international and domestic (Irish) businesses in 2019. International profits increased by 17% to


€13 million/$14.7 million last year, according to parent company daa’s annual report. However, the global spread of the


coronavirus (Covid-19), has significantly impacted ARI’s business in 2020, along with the overall GTR sector. Fully owned by daa Group, ARI has


operations in 12 countries. In addition to managing its own outlets in


Dublin and Cork Airports, it has interests in retail operations in 11 other countries. It also holds daa’s shareholding in Düsseldorf Airport and Hermes Airports,


the financial and operational impact of the pandemic with a range of cost reduction measures among other initiatives across the organisation. “We’re working with our airport


partners in every location and adopting a collaborative and solution-orientated approach,” said Hernan. “ARI has a long track record of adopting a partnership approach, both with airports and suppliers and I think that will stand us in good stead during this current crisis.” In the meantime, ARI has devised a


reopening plan for its locations, with a clear focus on the health and safety of passengers and colleagues, coupled with ‘outstanding commercial offers’.


Wangfujing Group Co gains duty free approval


Chinese department store operator Wangfujing Group Co., Ltd has obtained approval to sell duty free goods. According to documentation seen by


TRBusiness, Wangfujing Group, which operates more than 40 department stores including the Beijing Department Store, received confirmation from the Chinese Ministry of Finance in June. The news was subsequently released


by controlling shareholder Beijing Capital Tourism Group Co Ltd. Domestic travel in China continues to


recover from the virus, with the duty free approval a signal of intent from China to promote domestic consumption and drive healthy competition among downtown


calvinklein.com/fragrances


tax free retailers. The awarding of the duty free


licence follows a notice by the National Development & Reform Committee (NDRC) last month. According to reports, the NDRC


announcement indicated that China would relax control of the market and develop duty free outlets in downtown areas.


However, Hernan is cognisant of the fact that shopping behaviours will change when countries begin relaxing travel restrictions. ARI, therefore, has dedicated teams


working to deliver on these expectations in new ways. The company is anticipating a higher


demand for click-and-collect and other digital/virtual shopping options.


Lotte DF to sell unsold stock on domestic market


Lotte Duty Free will begin shifting surplus duty free stock worth KRW20 billion/$16.5 million in the local market, beginning 23 June. Online sales will start on 23 June through


‘Lotte On’ to be followed by sales at eight domestic branches. The Korea Customs Service (KCS)


accepted a request in April from duty free players to sell mounting product inventories due to the coronavirus. Lotte’s Korean rival, The Shilla Duty Free,


has told TRBusiness it will sell unused stock on its ‘Trip’ online platform. Lotte Duty Free will sell fifty overseas


luxury brands online at discounts of up to 60%, with 10 overseas luxury brands selling at locations including Lotte Duty Free’s department store and other outlets. Lotte Duty Free will donate 0.5% of


online sales to support medical staff fighting against Covid-19. The company plans to draw on its distribution network to maximise sales.


 NO travel costs.  NO hotel costs.  NO hidden costs.  NO gimmicks.  A fixed price of only £4,495 (excl. VAT) per Brand Hub.


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