NEWS ROUND-UP Online sales offset LVMH revenue decline
during the same period. Unsurprisingly, ‘DFS experienced a
significant decline in activity in most destinations as a result of the suspension of international travel’, said the group. While all the Sephora stores were closed
in China for a prolonged period in Q1, those located in Europe and the United States have been closed only since mid-March. However, LVMH says that online revenue
– in the Selective Retailing division – significantly increased over this period and that shopping in Chinese stores has gradually picked up since early April. L VMH also said that ‘online sales saw
LVMH Moët Hennessy Louis Vuitton, registered a revenue decline of -15% to €10.6bn/$11.5bn in the first quarter of 2020, down 17% on an organic basis. The Selective Retailing division – which
includes luxury travel retailer DFS Group and world-renowned chain of personal care and beauty stores Sephora – posted a dramatic 26% decline in organic revenue
rapid growth’ in its fashion & leathergoods division. LVMH added it has ‘proven its
ability to be resilient in an economic environment disrupted by a serious health crisis’ that has led to the closure of stores and manufacturing sites in most countries, as well as the suspension of international travel.
ETRC addresses EU Transport Council
The European Travel Retail Confederation (ETRC) and its national and regional partners wrote to all EU transport ministers reiterating several key calls to action, ahead of an informal EU Transport Council meeting in April. A copy of the letter can be found on a
new dedicated page in response to the coronavirus (Covid-19), which can be accessed via the ETRC website. The page includes ETRC communications
and relevant links and resources for the European region. Within the letter, ETRC and its national
and regional partners reiterated the need for the DF&TR channel to receive the same consideration for economic support as other parts of the passenger transport industry. EU governments have been encouraged
to further extend financial support schemes and implement targeted measures to
Millennials browse over three categories per trip
According to m1nd-set, 52% of Asia Pacific travellers visit a duty free store and among those visitors, 80% end up purchasing duty free products. Interestingly, travellers from this region
visit an average 2.7 categories in a duty free store, however millennials visit on average 3.2 categories. Middle-aged shoppers browse in 2.6 categories, while seniors tend to only stick to two. “Price advantage and good value for
protect the channel. Additionally, ETRC and its partners have
asked for travel restrictions to be lifted in a ‘coordinated and harmonised way’ across Europe, while considering the specific needs required for DF&TR shops to resume operations and ensure passengers gain the confidence to travel again. Meanwhile, ETRC has issued a set of ‘Best
Practice Guidelines’ for reopening DF&TR shops in the midst of Covid-19.
money are the key drivers to purchase for Asia Pacific travellers, followed by convenience and availability of products not available in their home markets,” said Anna Marchesini, Project Manager, m1nd- set. “It should be noted that the availability of products suitable as gifts is a key driver for seniors.” This interest in value-related aspects, is
also reflected in their tendency to compare prices before making the final decision to purchase and to purchase products in promotion. Again, this is especially true for millennials.
The Group said its priority is to ensure the safety of its employees and customers and that the LVMH divisions have demonstrated ‘their strong commitment and agility’ in facing this unprecedented situation. “Efforts to adapt to the current
environment are actively underway in order to control costs and ensure a more selective investment policy,” said the company.
BOSS.COM
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