Dag Rasmussen, Chairman & CEO of Lagardère Travel Retail commented “Our growth has been steady since the beginning of the year, at a growth rate of 9.9% on a like for like basis (6.6% at current rate) pushed by strong traffic growth and the success of new concepts and commercial initiatives. The profitability increase is in line with the top line growth. We were able to compensate the negative impact of strikes in France by immediate action plans and the postponing of projects.”
During this period, the group achieved many structural projects:
In Duty Free & Fashion, we integrated a number of major contracts won last year – Geneva, Senegal, Saudi Arabia, Hong Kong. And we launched Beauty New Age in Paris airports - the new approach to beauty in travel retail, which includes a new “phygital” experience for travelers.
We accelerated the development of Foodservice activities globally: in North America (with openings in Austin, San Francisco, and Los Angeles,…) – which were praised with numerous industry awards (ACI-North America) – as well as with numerous openings in China, Italy, France and Dubai, where we have recently opened a food court, Daily DXB.
In Travel Essentials, we continuously developed our brand portfolio, for instance with an All Blacks store in New Zealand and Trip Advisor in the US and Hong Kong, and the activity showed strong results due to the offer adjustments we performed and the continuous roll-out of the new Relay concept.
The Innovation pipeline was also very strong with in particular the conclusion of a partnership with Lafayette Plug & Play.
Dag Rasmussen concluded “These growth figures show the strength and intent of the travel retail sector, that is pushed by healthy and structural fundamentals and the validity of a 3 business line strategy that multiplies the opportunities for growth”.