TOP 10 OPERATORS 5: LAGARDÈRE TRAVEL RETAIL
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Lagardère Travel Retail ready for the re- start with further acquisitions a possibility
French operator Lagardère Travel Retail made a shrewd move last year in acquiring Belgian travel retailer International Duty Free. Chairman & CEO Dag Rasmussen tells Andrew Pentol that Lagardère is open to further acquisitions post-Covid-19 and that he is proud of how the company has handled the crisis.
or French operator Lagardère Travel Retail, 2019 was one of its best years, driven by the
successful integrations of Hojeij Branded foods (acquired in 2018) and Belgium’s International Duty Free (acquired in 2019). The integration of both companies
added four new markets to the Lagardère network (Gabon, Turkey, Kenya and Slovakia), so it is easy to see why the company, which generated sales of €4.3bn/$4.8bn (+6.3% like-for- like) in 2019 has such fond memories
of last year. “I think we can be proud of the
way we consolidated our number one position in travel essentials,” Dag Rasmussen, Chairman & CEO, Lagardère Travel Retail tells TRBusiness. “Some years ago, you may have believed the travel essentials market was dying, but this is not the case. It’s growing.” Regarding the travel essentials
side of the business (the other business segments are duty free and fashion and foodservice), Rasmussen says: “There is
a strong sales dynamic in our existing stores. We managed to rework the concepts around anticipation and adaptation to customers’ needs. We also expand the network each year. Last year, Gabon and Turkey were added.”
Spend per pax growth On the duty free front, Lagardère, which managed to grow spend per passenger and stock ratio in 2019, is working hard to make its concepts more local, experience-driven and digital. “We are also working hard on the product offering, so we can adapt to the different traveller profiles.”
“I think we can be proud of the way we consolidated our number one position in travel essentials [last year].”
Lagardère Travel Retail consolidated its number one position in travel essentials last year.
OCTOBER 2020
Dag Rasmussen, Chairman & CEO, Lagardère Travel Retail
TOP 10 OPERATORS 23
Above: At the time of writing, more than two-thirds of Lagardère Travel Retail’s stores were trading and all platforms were open.
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