The L’Oréal group, the historic marketplace leader in the Travel Retail beauty segment, announced right now that it is creating a Group Travel Retail Division. With 50% or far more of passengers not even entering the duty no cost/travel retail shops and only 9% buying confectionery, we see the category as a substantial chance!” continues Matt. They will travel most of the time to pay a visit to potential clients as properly as current clients.
We are especially focused on travel corridors that are frequented by buyers from important emerging markets. Operating inside this division offers you access to an unrivalled portfolio of brands that reflect our exceptional retail heritage. The altering profile of the travel shopper may possibly transform the travel retail market from 1 centered on luxury to one particular that caters to broader set of requirements.
LVMH is the only luxury goods player with considerable direct operations in travel retail, via its selective retail division. I agree that the wellness sector is going to see a enormous expansion in the subsequent ten years. Innovation is big in our business, so we’ve created and partnered with a range of speciality stores that enables us to bring premium international brands to the domestic market.
To continue getting a leader in travel retail we focus on acquiring motivated and talented folks that display our worldwide values of Excellence, Innovation, Agility, Ethics, Enthusiasm, and Team Spirit. Travel Retail, which represents all items sold in the travel distribution channel (airports, airlines, ferries, cruises, downtown duty-absolutely free shops, and so forth.), plays an vital part in this approach as it is a dynamic marketplace.
A lot of the Chinese travellers are female and 95% are beneath 50. So generally that’s a entirely different target group. In addition to facing challenging times simply because of the competitors among airports travel retailers have also challenges coming from the carriers.