LAGARDÉRE TRAVEL RETAIL “So we had lots of headwinds,
but we see that on the length of the contract so it’s OK. But for the local team, we want them to work as if the contract ends in three years’ time and not consider we have it for ten, so we don’t concentrate on it.” Asked whether LTR might be able
to take this model and offer it to another airport, Chevalier pointed to some big points of differences. He said: “I guess the model is about
leveraging proven retail formulas and adapting to the specificities and I think what you see here in the duty free store and the food offer are different things.” He added that in the duty free
store there are proven techniques and this is not about reinventing everything at the same time, but more about adapting the offer. As such, he says this is where the
long-term contract helps, although within the two months since the store had been open [at the time of TRBusiness’ visit] he said it had already ‘progressed tremendously’. Chevalier said this live almost
organic store evolution process is exactly what LTR is proposing to its landlords today. Rasmussen agreed: “What is very
important for us is to listen, because we have retail formats which work and we want to localise them. “But if we don’t listen to our local
team, the airports, or the brands, then we can come up with clichés
Fiumicino Leonardo da Vinci Airport.
and not the real sense of place. So it is about humility and teamwork. “We love taking ideas and we love
being wrong and being challenged and that’s how we build it.” Another priority at LTR is
staff selection and training and Rasmussen also believes it is vital to get this right. “We have a very strong team
recruiting both internationally and nationally and more importantly the training – because selection is one thing. “But what’s more important is
training the staff and we have a very, very good training programme and we have a very good mystery shopping programme and an ISO- certified training programme. “We invest more than others in training, we invest more than others
“I guess the model is about leveraging proven retail formulas and adapting to the specificities and I think what you see here in the duty free store and the food offer are different things.”
Frédéric Chevalier, COO Europe, Middle East and Africa, Lagardére Travel Retail
in staff and we invest more than others in CAPEX and we think that’s the way to go forward.” «
A comprehensive questions and answers interview with Lagardére Travel Retail’s top management appeared on
TRBusiness.com on 28 March 2017.
total of 13 in all. He added that the top three flights
in terms of duty free and travel retail spending are also services to Chinese destinations. Littaru also confirmed that the average
retail contract period at Fiumicino is between four to seven years, while ADR’s contract to operate at the airport runs until 2044. Meanwhile, He is also very
complimentary about LTR as partners: “They are very open to work on the store layout, the assortment, the operation and comments on a day-to-day basis. They did listen to our input, so I think it is working very well and I see a strong alignment between our interests.
MAY 2017
“On top of that, they know very well that it is a very profitable business for us
and we have a strong interest for them to make a good business here.”
This is the walkthrough store format LTR has literally been waiting for. TRBUSINESS 35
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