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Tag: Dufry

  • Dufry blossoms in Asia market

    Dufry blossoms in Asia market

    Asia “continued to boom” for travel retailer Dufry in the first half of this year.

    Bali, Cambodia, Indonesia, Macau and South Korea all achieved double-digit sales growth during the half year, with Chinese tourists credited for much of that growth. Australia also achieved “strong double-digit performance” after the full renovation of Dufry’s stores there.

    “Eastern Europe, Middle East, Asia and Australia continued to outperform, driven by a growing number of Chinese passengers,” the company said in an earnings statement. Organic growth across Eastern Europe, Middle East, Asia and Australia rose 22.1 per cent.

    Globally, the Swiss company’s turnover grew by 7.2 per cent to CHF 4.097 billion (US$4.112 billion). Earnings before interest and tax grew 38.4 per cent to CHF 124.6 million.

    Dufry says its organic sales growth rose by 5.5 per cent thanks to an expansion and refurbishment program across the group.

    In the first half of this year, it expanded and opened 13,200sqm of gross retail space, which included new operations aboard 12 cruise ships, totalling 3500sqm across 38 stores. A further 22,400sqm of refurbishments are planned during the second half year, including the implementation of its new generation store concept at Heathrow Airport’s T3.

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  • Dufry reports strong 2017 results from high growth in Asia

    Dufry reports strong 2017 results from high growth in Asia

    Swiss travel retail operator Dufry says its sales in its Asia-Australia-Middle East division rose 5.4 per cent last year with most markets contributing to the improvement.

    Turnover was CHF809.1 million (US$849 million) last year, up from CHF770.7 million the previous year.

    The company said both its Hong Kong and Macau businesses recorded a comeback, with double-digit growth in the second half of the year.

    Sales grew in South Korea, despite reduced visitor numbers from Mainland China.

    “Other operations including Cambodia and Bali also performed well, while Melbourne recovered in the second semester, after the implementation of the New Generation Store and the comprehensive refurbishment undergone in the first half year,” the company said.

    Globally, Dufry achieved sales of CHF8.377 billion, up 7 per cent year on year, while profit exceeded CHF1 billion for the first time in the company’s history.

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  • Richemont acquires 5% stake in Dufry

    Richemont acquires 5% stake in Dufry

    In big breaking news, Richemont Luxury Group has taken a stake of just over 5% stake in the world’s leading travel retailer Dufry.

    Under Swiss Stock Exchange (SIX) regulations, any holding of more than 3.0% must be publicly disclosed with 24 hours. Richemont Luxury Group is the direct shareholder while the beneficial owner/persons that can exercise the voting rights at their own discretion is Compagnie Financiere Rupert of Geneva, Switzerland.

    Richemont has picked up 2,693,856 rights and voting rights, respectively and precisely 5.000001 % as a percentage of voting rights.

    The surprise news comes hot on the heels of HNA Group of China acquiring 16.79% of Dufry.

    Richemont owns several of the world’s leading luxury goods companies, with particular strengths in jewellery, luxury watches and premium accessories.

    The Group’s luxury interests encompass several of the most prestigious names in the sector, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen, Panerai and Montblanc.

    Richemont’s arch luxury goods rival LVMH is the majority shareholder in Dufry sector peer, DFS Group. Co-Founder Robert Miller remains DFS’s co-owner.

    In the year ended 31 March 2017, Richemont posted a -4% decrease in sales, which it said reflected a growth in retail sales offset by a decline in wholesale business. Operating profit fell -14%.

    The second half of the year, though, saw an improvement. The USA, Richemont’s largest market, resumed growth while Mainland China, now the Group’s second largest market, enjoyed strong growth along with South Korea, the UK and Macau.

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  • Asians top buyers of Moncler clothing

    Asians top buyers of Moncler clothing

    China and South Korea were the top markets, along with the US, for Italian luxury clothing maker Moncler last year.

    Sales of Moncler clothing rose 18 per cent with revenues of €1.04 billion (US$1.1 billion). Same-store-sales were up 7 per cent, and at the end of the year the group had 190 directly owned stores, 17 more than 12 months previously.

    Moncler chairman/CEO Remo Ruffini says he is convinced the group will continue to grow this year.

    COO Roberto Eggs says the group has started talks with Swiss travel retailer Dufry to open in airports, with timing depending on opportunities.

    CCO Luciano Santel says most of the company growth last year came from volume, with prices being mostly stable.

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  • Hudson Travel bookstores launch at Chengdu Airport

    Hudson Travel bookstores launch at Chengdu Airport

    Swiss travel retailer Dufry has launched the Hudson Travel Essentials Convenience Bookstore brand with eight outlets at Chengdu Shuangliu International Airport.

    The Hudson Travel bookstores are being run by Hudson Bright Power Beijing, a JV between Dufry and bookstore company Bright Power Beijing.

    Chengdu Shuangliu International Airport handled more than 44 million passengers last year, and is ranked as the fourth-busiest airport in China behind Beijing Capital International, Shanghai Pudong and Guangzhou Baiyun International airports.

    The new Hudson Travel Essentials Convenience Bookstores offer travellers “one-stop shopping with an international ambiance”, says Dufry. As well as magazines and books, the shops offer international snacks and soft drinks, Chinese cultural and destination souvenir items, travel convenience products, and digital and electronics accessories.
    Dufry plans to roll out the Hudson brand across China and expand the retail concept globally.
    China is poised for significant growth in passenger numbers both at airports and railway stations, says the company.

    The Civil Aviation Administration of China says there were about 500 million air passengers in China last year, 13 per cent more than in the previous year.

    “With its remarkable number of passengers, Chengdu is the ideal starting point to further grow in China, which is a very attractive market for us,” says Dufry Asia/Middle East/Australia division CEO Andrea Belardini.

    “Besides the Hudson convenience stores, we are also able to offer our landlords a complete range of retail formats and solutions, from typical core categories to multi-brand formats such as sunglasses, fashion watches, electronics and leisurewear.”

    Bright Power was founded in 2005 as a book-publishing company, and has evolved from book wholesaling to magazine and book retailing. It has bookstores in four out of the 10 major Chinese airports and at six of China’s top 10 high-speed railway stations.

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  • Asia driving ‘significant’ growth in airport retail

    Asia driving ‘significant’ growth in airport retail

    Asia is driving “significant growth” in the global airport retail market, according to a new report from Credence Research.

    This is based on the increasing disposable income of middle-class families in emerging countries coupled with affordable travel options, says the report, Airport Retail Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2022.

    Emerging countries such as China and India are increasingly investing in new terminals and expanded retail areas.

    Widening budget options are boosting the number of travellers, particularly in Asia Pacific, says the report.

    Fashion and accessories is the largest product category in airport retail, accounting for more than half of revenue share. The segment can expect considerable growth, says the report.

    However, the fastest growth is expected in the F&B segment with rising sales for premium liquor products and the expansion of food chains.

    By store type the largest segment is the independent store and showroom. These are steadily growing in number with concessions being offered by airport authorities to local companies. The fastest growth is predicted in the duty-free stores segment, which is bolstered by more and more promotional activities.

    Asia Pacific is the largest regional market for airport retail, accounting for 40.5 per cent of revenue share last year. It is forecast to have the fastest growth, particularly in India, China, Australia and Southeast Asia countries.

    The report says the global airport retail industry is highly competitive with a strong multinational component. Major companies involved include Aer Rianta International, Autogrill, Dubai Duty Free, Dufry, Duty Free Shoppers, Heinemann, LS Travel Retail, Lotte Duty Free, Nuance Group, Shilla Duty Free and Stellar Partners.

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  • Coach Asia revamps duty free network

    Coach Asia revamps duty free network

    US accessories and lifestyle label Coach Asia is remodelling its duty-free and travel retail stores to tie in with its new “modern luxury” concept, and is planning further expansion in the region.

    The company says the aim is to provide a “warm and inviting” environment in which to showcase the latest products from Coach creative director Stuart Vevers.

    “The performance of the renovated stores has been very strong, and the concept has been extremely well received by the Asian consumer,” Coach International division vice-president of sales Paulo Colino said.

    “We are pleased with the progress we have made updating the stores and expect to have nearly half of our shops in the region remodelled by the summer of next year.”

    Coach has nearly 80 shops spread over 15 countries, including airport and cruise-ship locations.
    Key stores for the renovation include DFS and China Duty Free in Siem Reap, Ginza with Lotte in Tokyo, Kansai Airport with JatCo, Hongqiao Wing 5 with Dufry and Kunming Airport with Lagardere TR, Phuket downtown with King Power, Sentosa Plaza with Valiram in Singapore, and Sunplaza and Chinachem with DFS in Hong Kong.

    “Given the success we have seen in this region, we plan to expand into additional countries in Asia, including India and Myanmar,” says Colino.

    Coach is now a quarter way through the refit program.

  • Lacoste Singapore scores airport outlet

    Lacoste Singapore scores airport outlet

    French clothing company Lacoste Singapore has tendered successfully for an outlet at Changi Airport.

    RSH Singapore, which represents Lacoste, has been awarded a 78 sqm concession in the west departure/transit lounge on level two.

    Calling for mid-priced fashion tenders in Terminal 1, Changi Airport Group awarded two other concessions to Dufry (The Nuance Group Singapore), which will use its 70 sqm and 83 sqm concessions for the Kipling and Trunk & Co brands.

    All concessions are in the same area with three-year contracts, with no option to renew. The tenders attracted 13 participants.

    Meanwhile, Dufry, in partnership with MCM, has also won an extra 104 sqm speciality tender in the same location, also for three years.

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