Latest news with #travelretail
Forbes
7 days ago
- Business
- Forbes
Avolta And Lagardère Build Out Their Latin American Retail Portfolios
Rival European travel retailers, Avolta and Lagardère Travel Retail (LTR) have made in-roads into the Latin American airport retail market, in Mexico and Peru respectively. Paris-based, LTR has revealed a large retail offer in the new terminal of Peru's main airport, Jorge Chávez International Airport, which is operated by Lima Airport Partners. In total, the travel retailer has inaugurated more than 43,000 square feet of store space, plus a dining area covering 35,500 square feet branded Nación Sazón – The Land of Flavours which Lagardère describes as 'Latin America's newest and freshest hub for local cuisine.' Meanwhile, Switzerland-based Avolta, has won a new five-year contract at Guadalajara Airport in Mexico allowing it to expand its retail operations there to cover around 13,000 square feet which includes the opening of two new stores. LTR's new commercial spaces in Lima, follow two years of construction at the airport which, last year, was the fifth busiest airport in Latin America processing 24.5 million passengers, up by 15%. The strong rebound topped the 2019 record of 23.6 million, though this is mainly thanks to the high level of domestic air travel; international numbers are still about 6% off 2019. Lima Airport Partners—80.01% owned by Germany's Fraport and 19.99% by the International Finance Corporation (part of the World Bank Group)—wanted a strong focus on gastronomy to appeal to lucrative transfer passengers in particular, whose share of travelers remains below pre-Covid levels. Nación Sazón which houses the food and beverage (F&B) offer features 13 units, including nine leading Peruvian brands that exemplify the country's rich culinary heritage. Among them are exclusive concepts developed with two of South America's most celebrated chefs. They are the blended Japanese and Peruvian SAKAI by Mitsuharu Tsumura, chef at Maido ranked fifth among The World's 50 Best Restaurants 2024, and the seafood-inspired CALLAO by Jaime Pesaque, chef at Mayta, ranked 41st. Other chef-led concepts include creole cuisine from José del Castillo at Las Reyes by Isolina, gourmet burgers by Javier Miyasato at Burger Boy, and barbecue chicken from Mitsuharu Tsumura at TORI. Cyril Letocart, CEO of Lagardère Travel Retail Peru said: 'Nación Sazón is a true gastronomic hub that brings Peru's unique cuisine to the world. We have put our heart and soul into this project and are very proud of the results.' Referring to the project as a whole he added: 'We have built what we believe is Latin America's new benchmark for travel retail and airport dining.' The departure retail space features El Mixólogo, a cocktail and tapas bar where passengers can also purchase local labels to take home. Lagardère has also added a VIP room in the main duty-free shop to serve high spenders. The store design pays tribute to Peru's landscapes from the coasts and highlands to the Amazonian forests and Andes mountains. Lagardère Travel Retail is making a big investment in Lima. It launched there in 2021 with 80 employees, but this latest expansion will grow that number to over 750 by this summer. In terms of international passengers, the retailer could well be serving a large number of Spaniards and Americans. Among the strongest recoveries last year (versus 2019) were from Madrid (up 133%) and Miami (up 137%). The two destinations accounted for 19% of international traffic. Further north in Mexico, Avolta's new five-year contract at Guadalajara Airport—at the heart of the country's main tequila producing region—will enable the retailer to fully renovate its three existing stores and open two new ones. Mexico is a big market for the airport retailer; with more than 80 stores across Mexico City, Cancun, Monterrey as well as Guadalajara. Guadalajara is the third busiest airport in the country and is operated by Grupo Aeroportuario del Pacífico (GAP). It processed almost 18 million passengers last year. The gateway continued to grow, unlike its larger counterparts, Mexico City and Cancun, where traffic fell by about 6%. Susana Romero, commercial director at GAP, described Avolta as one of the most important stakeholders in Guadalajara Airport, and added: 'As part of our effort to maximize revenue from commercial activities and meet passenger expectations, GAP expanded and redesigned the airport terminal to accommodate more general specialty retail, duty-free shopping and F&B. The passenger flow was also redirected to increasing exposure to the new commercial areas.'
Zawya
03-06-2025
- Business
- Zawya
Bensang Pharmaceuticals Officially Enters Japanese Duty-Free Market, Opening a New Chapter in Health Consumption
TOKYO, JAPAN - Media OutReach Newswire - 3 June 2025 - Bensang Pharmaceuticals (China), a leading health and wellness brand, announced today that its full product line has officially entered Tokyo duty-free stores, marking a deep collaboration in the health consumption sector. This partnership not only provides consumers with a global authentic purchasing channel but also integrates high-quality health products with the premium duty-free shopping experience. Powerful Collaboration to Create a New Duty-Free Health Consumption Scene Tokyo Duty Free is a world-leading travel retail platform with a global supply chain network and millions of passenger flows, serving as a key gateway for premium brands entering international markets. Bensang Pharmaceuticals, with its scientific formulations, stringent quality control, and diverse product portfolio, has earned strong market recognition. The brand will set up exclusive display zones in duty-free stores and launch limited-time promotional offers to meet the diverse health product demands of both international travelers and local consumers. With growing health awareness, wellness products have become a new growth driver in duty-free consumption. Bensang's commitment to R&D and product innovation aligns perfectly with Tokyo Duty Free's positioning as the "preferred destination for quality living." Strategic Expansion to Capture the Health Consumption Boom As China's health industry continues to expand, its market size is projected to exceed ¥20 trillion by 2025. Duty-free channels, with their "authenticity guarantee + competitive pricing," have become the top choice for high-net-worth individuals and cross-border shoppers. Bensang's entry into duty-free stores is a crucial step in its globalization strategy, driving the Chinese health supplement industry toward premium and international development. Hashtag: #BensangPharmaceuticals The issuer is solely responsible for the content of this announcement. About Bensang Pharmaceuticals Bensang Pharmaceuticals is dedicated to the R&D and production of high-quality health products, including dietary supplements, pharmaceuticals, and medical devices. The company aims to advance global health industry development and help people achieve a better quality of life. Bensang Pharmaceuticals
Malay Mail
03-06-2025
- Business
- Malay Mail
Bensang Pharmaceuticals Officially Enters Japanese Duty-Free Market, Opening a New Chapter in Health Consumption
TOKYO, JAPAN - Media OutReach Newswire - 3 June 2025 - Bensang Pharmaceuticals (China), a leading health and wellness brand, announced today that its full product line has officially entered Tokyo duty-free stores, marking a deep collaboration in the health consumption sector. This partnership not only provides consumers with a global authentic purchasing channel but also integrates high-quality health products with the premium duty-free shopping Duty Free is a world-leading travel retail platform with a global supply chain network and millions of passenger flows, serving as a key gateway for premium brands entering international markets. Bensang Pharmaceuticals, with its scientific formulations, stringent quality control, and diverse product portfolio, has earned strong market recognition. The brand will set up exclusive display zones in duty-free stores and launch limited-time promotional offers to meet the diverse health product demands of both international travelers and local growing health awareness, wellness products have become a new growth driver in duty-free consumption. Bensang's commitment to R&D and product innovation aligns perfectly with Tokyo Duty Free's positioning as the "preferred destination for quality living."As China's health industry continues to expand, its market size is projected to exceed ¥20 trillion by 2025. Duty-free channels, with their "authenticity guarantee + competitive pricing," have become the top choice for high-net-worth individuals and cross-border shoppers. Bensang's entry into duty-free stores is a crucial step in its globalization strategy, driving the Chinese health supplement industry toward premium and international #BensangPharmaceuticals The issuer is solely responsible for the content of this announcement. About Bensang Pharmaceuticals Bensang Pharmaceuticals is dedicated to the R&D and production of high-quality health products, including dietary supplements, pharmaceuticals, and medical devices. The company aims to advance global health industry development and help people achieve a better quality of life.
Forbes
22-05-2025
- Business
- Forbes
World's Second-Biggest Airport Retailer Makes South African Breakthrough
Signed and sealed. From left: deputy president of South Africa, Paul Mashatile; CEO of Lagardère ... More Travel Retail, Dag Rasmussen; and chairman of Tourvest Group, Robert Gumede. Global duty-free operator, Lagardère Travel Retail (LTR), has partnered with South African tourism company, Tourvest, to pursue travel retail opportunities across the African continent, starting with South Africa itself. Paris-based LTR, which generated sales of $6.1 billion for its media-to-retail parent, Lagardere Group, last year, is looking to expand in Africa, where it already has a scattered presence in five west African countries (Benin, Gambia, Gabon, Mauritania and Senegal), and Tanzania in the east of the continent. The strategic memorandum of understanding (MoU) it has signed with Tourvest will allow LTR to collaborate on retail, hospitality, and tourism development initiatives, initially in South Africa. Deputy president of South Africa Paul Mashatile was also present, adding some weight to the proceedings. German rival Gebr. Heinemann already has an established joint-venture presence with Big Five Duty Free at South Africa's most important air gateways of OR Tambo in Johannesburg, Cape Town International, and Durban's King Shaka International. An all-women-owned investment consortium took a 28% stake in the retailer last October, but it is believed that Heinemann continues to retain its interest. For LTR, there are multiple other opportunities in the country, and it will be going after travel retail, duty-free, and dining offerings in major airports and tourism hubs. Dag Rasmussen, CEO of Lagardère Travel Retail, said in a statement: 'This collaboration is fully aligned with our ambition to grow in the South African market and more broadly across the region—a strategic priority for us and an area full of promise. It also reflects our DNA: forging strong partnerships with locally rooted players who understand and anticipate local expectations.' The French company says the South African travel retail market is valued at over $100 million while the wider Africa and Middle East travel retail market 'is worth in excess of $3.5 billion.' Generation Research puts the valuation significantly higher. It estimates African duty-free and travel retail sales in 2024 hit $841 million, with the Middle East raking in $6.54 billion. Africa is a small, underserved, and difficult market for airport shopping, but last year it grew faster than all other regions at 7.6%. The MoU could deliver a powerful new player in the market thanks to some complementary skills adding up to more than the sum of their parts. Tourvest—with revenue exceeding Rand 20 billion ($1.1 billion) in FY24 (ending August 2024) and majority owned by the Guma Group—has a strong African operational presence, local market intelligence, and hospitality leadership. Lagardère Travel Retail also has some African experience, competence in delivering retail concepts, and a big international reach; some 5,000 stores in more than 50 countries. Business tycoon Robert Gumede, chairman of Tourvest Group, commented: 'We are optimistic as we embark on this strategic journey. While this partnership begins in South Africa, it reflects our mutual ambition to pursue opportunities across the continent. Together, we aim to set new benchmarks in travel retail.' Currently, despite LTR being in six African markets, the retailer does not break out the revenue from the continent when announcing its quarterly results. This partnership, if successful, could change that, but it might take some time. On Monday this week, Lagardère Travel Retail also announced it had secured a long-term master concession at Singapore Cruise Centre (SCC) and the Tanah Merah ferry terminal close to Changi Airport, as luxury retailer DFS Group departs. From July, Lagardère Travel Retail will begin store renovations at the Singapore Cruise Centre and ... More other locations. The duty-free and general merchandise contract covers all three of LTR's business lines (duty-free, travel essentials, and dining) and starts in July, when LTR will begin a phased renovation that promises 'to deliver a bespoke concept that resonates with the landlord's vision.' Jacqueline Tan, CEO of Singapore Cruise Centre, said: 'We are excited to realize the terminals' upgrade, making it more appealing to both leisure and business travelers.' SCC is a gateway to Indonesia's Batam and Bintan islands as well as Desaru in Malaysia. The center is also a turnaround port for luxury and expedition cruise ships on world voyages.
CNA
14-05-2025
- Business
- CNA
New lifestyle hub next to T5 strategically located to serve transit passengers: STB
The new business and lifestyle hub next to Terminal 5 is strategically located to serve transit passengers, according to the Singapore Tourism Board. Nadirah Zaidi explores the potential of travel retail and how the development will meet STB's Tourism 2040 ambitions.
