TOP 10 OPERATORS 5: LAGARDÈRE TRAVEL RETAIL
5 S
New contracts, integrations and openings boost total Lagardère revenue in 2018
Last year, Lagardère Travel Retail experienced solid organic growth driven by new commercial concepts, sustained traffic growth and acquisitions such as HBF in North America. As the company approaches Q4 2019 there is plenty to look forward to with the acquisition of Belgian operator IDF to be finalised shortly, as Andrew Pentol reports.
teady like-for-like growth and the integration of several major contracts won in 2017, in
locations such as Geneva, Senegal, Saudi Arabia and Hong Kong helped Lagardère Travel Retail register managed duty free and fashion sales of $2bn for the first time in 2018. Total consolidated pro forma
revenue reached €4.1bn ($4.84bn) in 2018. The company reported an +8.8% increase on a like-for-life basis compared to 2017; so in all it was a successful year. On reflection, there are numerous
developments that the retailer would consider highlights in 2018. These include the launch of the Beauty New Age concept in Paris airports; a approach to beauty in travel, which includes a new ‘phygital’ experience for travellers. New contracts were also signed at
Libreville Airport in Gabon (duty free), Beijing Daxing (fashion) and Vienna Airport (fashion). Dag Rasmussen, Chairman and
CEO, Lagardère Travel Retail said of the company’s performance in 2018: “Our organic growth was strong in
OCTOBER 2019
2018, pushed by sustained traffic growth, the success of our new concepts, innovative and dynamic commercial initiatives and the development of the network. “We also had a very successful
year in terms of acquisitions, in particular HBF in North America, that we were able to integrate in December (2018).”
‘Strong fundamentals’ Total Lagardère Group revenue rose +3.3% on a like-for-like basis to €723bn in 2018 driven by a solid performance from the travel retail division. Rasmussen added: “We are
fortunate that the travel retail sector continues to benefit from strong fundamentals. “Within this
services are meeting passenger and landlord expectations.” Foodservice activities also
developed strongly in 2018, particularly in North America with the acquisition of Hojeli Branded Foods and openings in Austin, San Francisco and Los Angeles. New EMEA openings in Italy, (Toulouse Airport) and
France
Dubai Airport (The Daily DXB) also contributed, while a new contract was signed with Dean & DeLuca and initiated with the opening of two restaurants in Hong Kong.
favourable
environment, we have shown superior growth which proves not only that our three-business line strategy (travel essentials, duty free and fashion and foodservice) is paying off, but also that investments on concepts, innovation, staff training and development and customer
“Our organic growth was strong in 2018 at +8.8% versus 2017, pushed by sustained traffic growth, the success of our new concepts, innovative and dynamic commercial initiatives and the development of the network.”
Dag Rasmussen, Chairman and CEO, Lagardère Travel Retail
TOP 10 OPERATORS 39
Above: During a busy 2018, Lagardère Travel Retail was also awarded the new duty free and international F&B concessions at Adelaide International Airport.
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