TOP 10 OPERATORS 2018 3: LAGARDÈRE TRAVEL RETAIL
“The 2017 market environment was marked by continued growth in air traffic, driven in part by the development of low-cost airlines, amid a recovery in Europe after the terrorist attacks of the previous two years.”
Lagardère Travel Retail fiscal 2017 report
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a similarly bullish mood during that period, delivering growth of +22.7%. Momentum has been gathering
pace due to the new Hong Kong Airport liquor and tobacco concession in partnership with China Duty Free Group (CDFG), plus an upturn in the Pacific due to a ‘favourable network impact’ in Australia and the modernisation of the duty free store in Auckland. The fashion business in China
also yielded good performances from Shenzhen, with successful developments in fashion and foodservice at Xian, Kunming, Chongqing and Beijing. In North America, the travel
retailer (which operates with affiliate Paradies Lagardère) opened several stores at New York JFK T4, Tampa, Vancouver, Dallas, Washington and Austin. Among its 2017 objectives was a plan to fully integrate the Paradies business – which it successfully completed – and to consolidate its global concessions footprint. “The 2017 market environment
A Chanel activation at London Luton Airport.
“Nevertheless, the volatility of certain currencies (in particular the yuan and the rouble), Brexit, the adoption of neutral cigarette packaging in France and the continuing decline in the press market slowed the pace of growth in the areas concerned.” Overall, Chinese travellers
continue to be a ‘driving force’ across core category and fashion retail, with strong and sustained growth despite traffic somewhat slowing in the past 18 months.
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was marked by continued growth in air traffic, driven in part by the development of low-cost airlines, amid a recovery in Europe after the terrorist attacks of the previous two years,” read the travel retailer’s fiscal year 2017 report.
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Resilience in Europe A strong push from Indian market travellers has also been supported by good traffic resilience from European and North African traffic. “This year we’ve seen very good
resilience from European passengers, especially in European airports,” Ambroise Fondeur, Chief Business Officer, Lagardère Travel Retail tells TRBusiness. “The one nationality that continues to be under pressure this year is Russia due to the weakness of the rouble when talking about the platforms where we are operating.”
The thrust of business development into 2018 and beyond has been to integrate acquisitions and concessions at the likes of Auckland, Rome Fiumicino, Cairns, Geneva, Warsaw, Krakow, Gdansk, Luxembourg, Romania, Saudi Arabia, Dakar, China and Hong Kong. Indeed, the picture for the first half
of this year seems to be even more positive, with sales up 9.9% on a like- for-like basis to €1.72bn ($2bn). “It is going well globally on all
three business lines: Duty Free and Fashion, Travel Essentials and Foodservice,” comments Dag Rasmussen, Chairman and CEO, Lagardère Travel Retail. “There is a good mix between
growth of traffic, good concepts and the three business lines.”
A positive global picture Adding his thoughts, Fondeur says: “Globally, it’s a very good first
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janice@trbusiness.com Source: Lagardère Travel Retail full-year 2017 results. 24 TOP 10 OPERATORS
half. Some platforms we see more issues, typically Prague where it is more complex with declining spend per pax, but again, this should not change the global picture, which is very positive.” [Lagardère Travel Retail took over
nine additional duty free stores at Prague Airport in Q1 2017]. Network expansion and store
openings in EMEA and Asia Pacific were among the key drivers, backed by solid traffic growth, new contract wins and successful concepts. Let’s not forget that the travel
retailer is set to benefit this year from the full-year impact of new openings in Geneva, Dakar and at
OCTOBER 2018
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