NEWS ROUND-UP Duty Free Americas still ‘not for sale’
“We own gas stations, we own hotels – at some of our borders – we have the duty free business; we have the news & gifts business; we have the food & beverage business and we have specialty stores. “We have a lot of good contracts; long
contracts, so it’s very hard to put a number on something which is so valuable to us. “We’re still going to grow and
TRBusiness asked DFA President, Leon Falic, if DFA was still uninterested in a buy-out offer, following Lotte Duty Free’s proposal to submit an offer for the business he owns with his two brothers, last year. “We don’t have a ‘For Sale’ sign outside,
but if someone comes to buy us and gives us the right amount of money we’ll consider it,” he told TRBusiness in the Top 10 International Operators Report. “But we’re young and we’re still very
ambitious and we still feel like we can add a lot more value. “Very few players have what we have.
We do have some concessions, but then we have a lot of property, a lot of land and a lot of border business that we own.
we’re still going to add a lot more value. So if someone wants to buy us they’re going to have to write a big cheque.” Falic tells TRBusiness that if a company
was to buy DFA, they would effectively be securing the ‘key to America’ and they’d be ‘the biggest in America by far’. “I mean in terms of location, in terms
of diversity, it’s a big business, but again we’re not for sale and we still feel like we can add value.” Falic believes that companies that are
interested in entering the Americas travel retail business will not be able to do so through bidding for new tenders alone. “They are definitely not going to get in by just coming in and bidding, just like it’s hard
Lagardère TR wins fashion contract in Vienna
As reported on
TRBusiness.com, Lagardère Travel Retail has secured a new multi-brand fashion contract at Vienna Airport. Set to open in the second quarter of 2019,
the concession includes a tranche of big label fashion brands stationed in a re-mapped 730sq m footprint. Construction will begin in November,
says Björn Olsson, Senior Vice President, Center Management, and will cover close to 12 stores. The construction period is expected to
take up to six months, whereupon a new, centralised retail zone will greet passengers. The existing Heinemann Duty Free store
will remain the same, but some of the speciality retail units such as leathergoods
and sunglasses will be scaled back to place more emphasis on core duty free. “It will be the biggest fashion gallery in Europe that we have developed together with Lagardère,” said Olsson. See more information on Vienna Airport on p71,
and
TRBusiness.com for further information on the new fashion contract.
Narita sets ambitious FY2018 sales target
Narita International Airport Corporation has set a 12% revenue growth target for FY2018, after recently completing a 12-month retail expansion programme. “Financial year ending 31 March, 2018
(FY2017) was a good year,” Hiroomi Eguchi, Deputy Vice President, Retail Operations Department Marketing Division tells TRBusiness on p137 of the Japan Report. “We had JPY 124.6bn ($1.12bn) revenue
for airside, landside retail sales and restaurants. This was 14.8% up compared to FY2016. It’s our best year. “There are some reasons for this. We
had a lot of passengers last year, especially from China and they contributed to our sales result. “Our fragrance, cosmetics, liquor
and tobacco sales were boosted last year.” Four operators run duty free shops at
Narita Airport, but FaSoLa Duty Free, the retail arm of NAA Retail Corporation, is the largest.
for us to do the same in Asia. “Speaking of some of the big companies
in Asia, who talk about being the biggest and best in the world... If they don’t buy something big they’re not going to get very far.”
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