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Tag: Travel Retail

  • Marriott International Wins AON Best Employer in APAC

    Marriott International Wins AON Best Employer in APAC

    Marriott International has once again been crowned Best Employer Asia Pacific by Aon plc (NYSE: AON). The company was also recognized as Aon Best Employer in 17 markets across APAC – an increase in four markets from last year. The accolades are testament to Marriott International’s commitment to its people and its active encouragement for them to be their best in both their professional and personal lives.

    Craig S. Smith, Marriott International’s President and Managing Director for Asia Pacific, said, “At Marriott International we put people first and take care of our associates so that they, in turn, take care of our guests. We are thrilled that this commitment to our people, which has been embedded in the company’s DNA from the outset, has been recognized yet again by Aon. We focus on training, developing and retaining our associates, creating a loyal and passionate workforce that is committed to offering the best service and experiences to our guests.”

    With over 680 properties across 23 brands in more than 20 markets and a further 530 plus properties in the pipeline, Asia Pacific is Marriott International’s second fastest-growing region. The organization’s approach to developing talent is central to this growth as increased opportunities in the company enable associates to progress their careers from within, retaining not only talent but also the legacy of service values and commitment to excellence throughout the entire operation.

    “We implement a systematic and purposeful approach to enable associates to realize their full potential through a structured human capital planning process,” said Regan Taikitsadaporn, Chief Human Resources Officer for Asia Pacific at Marriott International. “We see it as important to nurture and groom our talent with comprehensive training and leadership development programs to enable career growth and facilitate internal promotions that will empower the growth of our company. These initiatives help us attract best-in-class talent as well as create a positive and nurturing environment for all associates.”

    Marriott International also offers professional development programs for associates at every stage of their career, from the Global Voyage Leadership Development Program for recent university graduates to the Marriott Development Academy, which helps prepare aspiring and new managers for the leadership role of general managers. As part of its commitment to diversity and inclusion, Marriott also focuses on promoting and developing women leaders. In 2018 alone, the Asia Pacific region saw a 12 percent increase in the number of women general managers across Asia Pacific.

    Marriott International is the only company to receive global recognition consecutively since Aon began the program in 2014 – a testament to the group’s commitment to putting its people at the core of its business. In 2018, Marriott also achieved certification as Best Employer globally.

    With more than 15 years of experience in best employer studies across the world, backed by more than 20 years of experience in employee research, the Aon Best Employer program recognizes the achievements of organizations that demonstrate excellence in the workplace.

    The company’s research proves that Aon Best Employers drive a committed workforce and performance through a compelling employer brand, effective leadership, and a high performance culture and level of employee engagement.

    • Engagement: Employees speak positively about their employer, intend to stay, and are motivated to exert extra effort at work.
    • Leadership: Leaders treat employees as valued assets, engage employees in the vision, and lead the organization to success.
    • Performance Culture: Employees are aligned to organizational goals and are rewarded and recognized for their contribution.
    • Employer Brand: Employees are proud of being part of their organization and can clearly explain what makes their employer different from others.
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  • Centara listed in Thailand Sustainability Investment (THSI) 2018 for Sustainability Performance Excellence

    Centara listed in Thailand Sustainability Investment (THSI) 2018 for Sustainability Performance Excellence

    Centara Hotels & Resorts (CENTEL), Thailand’s leading hotel operator, was categorised a “Thailand Sustainability Investment (THSI)”, an annual recognition for listed companies that operate with responsibility for Environmental, Social and Governance (ESG) aspects. The THSI list aims to recognise and motivate companies for their efforts towards sustainability, while offering investors an alternative investment in high-performance ESG stocks.

    Centara Hotels & Resorts aims to balance its operations to attain financial goals and practice good governance, while creating positive social impact, reducing its environmental footprint, and encouraging innovation to sustain the organisation’s competitiveness. The company has formally developed environmental, social, and innovation initiatives since 2008, including energy, water, waste and safety management. Centara also engages management, staff, suppliers, guests and communities, for both the long-term growth of its business and vitality of the destinations where it operates. One testament to this commitment is that 15 of Centara’s properties have already achieved Gold and Silver Certifications by EarthCheck, the world’s leading scientific benchmarking and impact assessment body for sustainable travel and tourism.

    “Centara intends to operate ethically and sustainably across our entire portfolio. We are committed to sustainable practices throughout our hotel operations, whilst delivering an exceptional level of Thai hospitality for our guests,” said Thirayuth Chirathivat, Chief Executive Officer. “Companies that respond effectively to the challenges of sustainability can gain a competitive advantage and increase share value. We strive to develop sustainable hospitality strategies and encourage sustainability wherever we operate.”

    Thailand Sustainability Investment (THSI) was first created in 2015 to recognise companies that adopt ESG principles into responsible and sustainable business management to create a positive impact on the Kingdom. This year, the Stock Exchange of Thailand (SET) selected Centara as one of 79 listed companies that incorporate a high level of ESG practices to support sustainability. This effort is in line with SET’s vision “To Make the Capital Market Work for Everyone”, supporting a vision of capitalism that benefits all stakeholders.

  • Vietjet to finalize $6.5 billion Airbus order: sources

    Vietjet to finalize $6.5 billion Airbus order: sources

    Vietjet is set to finalize a $6.5 billion jet order with Airbus ​during a visit to Hanoi by French PM Edouard Philippe on Friday. The order for 50 A321neo jets is part of an aggressive investment in the Vietnamese fast-growing budget carrier Vietjet’s fleet that has provided lucrative business for both Europe’s Airbus and its U.S. rival Boeing.

    It is also a boost for Airbus as it seeks to turn a raft of provisional orders put together at July’s Farnborough Airshow into hard revenues, narrowing a gap against Boeing this year.

    The deal is the biggest economic component of an official visit to Vietnam by Philippe from Nov. 2-4, during which he will oversee deals with French firms and hold talks with Vietnamese counterpart Nguyen Xuan Phuc, people familiar with the matter said.

    Airbus and Vietjet both declined to comment.

    Vietnam and France also signed an agreement in September to expand defense collaboration, although details are scant.

    VietJet CEO Nguyen Thi Phuong Thao said this week that Vietjet plans to maintain an average fleet age of just three years to keep fuel and maintenance costs low.

    It placed provisional orders for the A321neo jets and 100 Boeing 737 MAX jets in Farnborough and has been negotiating to firm them up, with deliveries expected between 2020 and 2025.

    The formal signing, to take place on Friday, will help to dispel doubts over the substance of deals announced in Farnborough, which was marked by a rash of vague or incomplete order announcements.

    Finalizing such deals can involve tough negotiations as airlines try to squeeze out last-minute concessions.

    However, finance industry sources have expressed concerns about a glut of orders in Southeast Asia from airlines like Vietjet, Malaysia’s AirAsia and Lion Air of Indonesia and question whether all of the several hundreds of planes on order from the Asian low-cost carriers will actually be delivered.

    Vietjet told the Airline Economics conference in Hong Kong this week that low-cost airlines have a relatively low market position in Vietnam, and that those most successful in driving down unit costs would ride out any downturn in the market.

    Vietnam’s expansion has also been peppered with trade sensitivities as Vietjet – which says it enjoys government support – juggled Airbus and Boeing procurements: a strategy also designed to win bigger discounts.

    Two years ago, Boeing upstaged Airbus by clinching an order for 100 737s during a visit by then-U.S. President Barack Obama.

    Until then, VietJet had only bought from Airbus, including an order for 92 jets in 2013.

    Philippe’s visit is the latest example of Western leaders beating a path to Asia’s low-cost carriers, whose orders have secured thousands of manufacturing jobs, trade experts said.

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  • First duty-free space in Hyundai Department Store

    First duty-free space in Hyundai Department Store

    South Korea’s retail conglomerate Hyundai Department Store Group opens its first duty-free store at its branch in Samseong-dong, southern Seoul, on November 1 as a newcomer into the lucrative duty-free race dominated by two other retail names, Lotte and Shinsegae.

    The new 14,250-square-meter duty-free store will open inside Hyundai Department Store’s Trade Center branch in Samseong-dong, an affluent business district in southern Seoul.

    It will take up three floors at the branch and offer 420 domestic and foreign brands.

    The outlet will be the first to have an official Alexander McQueen store. It will also have a separate foreign fashion zone offering Max Mara and Versace brands.

    Luxury brands will be based on the eight floor, while the ninth floor is reserved for beauty products and fashion stores.

    The 10th floor will have a more various selection of products from character goods to food like red ginseng and dried seaweed that is popular with foreign duty-free shoppers.

    The project is a huge one for Hyundai Department Store, which has been relatively conservative in the last decade regarding business expansions.

    Other department store rivals Lotte and Shinsegae have already established a stable foothold in the duty-free industry.

    In a press conference held at the new store on October 31, Hwang Hae-yeon, president of Hyundai Department Store Duty Free Co., said that it will provide high-quality life-style duty-free store service to consumers by escaping existing business practices and introducing new perspective.

    Hwang said the new store is expected to raise 670 billion won (US$588.2 million) in sales next year and over 1 trillion won in 2020.

    Hyundai Department Store Group will also create a digital-exclusive space to provide differentiated customer experience.

    It will invest 10 billion won to install the country’s largest 37-meter-wide and 36-meter-high light-emitting diode digital signage on the exterior wall of Hyundai Department Store’s Trade Center branch in December.

    The retailer also plans to promote diverse marketing by linking other businesses in retail, fashion, and travel, with its duty-free store to solidify its presence as a comprehensive retailer.

    The new addition will be the fourth duty-free store in the Gangnam area, along with Lotte Duty Free stores in the Lotte World Tower in Songpa District and in COEX and the Shinsegae Duty Free near the Express Bus Terminal.

    Being closer to other duty-free stores has tended to work as an advantage in the past, as tourists, especially those in large groups, can visit all of the different venues in one outing.

    In the past, duty-free stores inside Seoul were mainly clustered the North of the river, but the recent shift toward the Gangnam area suggests that a new duty-free destination could develop in the south of the city.

    Hwang also expressed confidence in the Gangnam location beside COEX as the operation’s “main differentiation point.”

    The venue is located near three high-end hotels, an underground mall, a casino and a convention center that regularly hosts international fairs. SM Town, a well-known destination among K-pop fans that also sells SM Entertainment products, is also nearby.

    The launch of Hyundai’s duty-free store comes at a complicated time: Chinese group tours to Korea – which once accounted for 70 percent of local duty free revenue – haven’t fully recovered after the U.S.-led antimissile system Thaad deployment last year.

    There are mounting concerns that duty-free stores are in fierce competition for commission fees in order to attract Chinese resellers that purchase in bundles.

    “There’s excessive competition in the market now – I want it to normalize and we’re going to try to stay away from [contributing to] it,” said Hwang.

    “There are many challenges, including regulations in China, but things are getting better. Chinese resellers can’t be ignored at the moment but in the long run, our plan is to focus on attracting ordinary tourists.”

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  • New era for single malt whisky with Ailsa Bay’s launch in Australia

    New era for single malt whisky with Ailsa Bay’s launch in Australia

    Independent family-owned distiller, William Grant & Sons has announced the launch of Ailsa Bay in Australia. The single malt is the first whisky in the world to index ‘sweetness’. Following its successful launch in the United Kingdom and Nordics in 2016, Ailsa Bay will now be landing in Australia to serve and content all the Australian whisky enthusiasts.

    Ailsa Bay is created based on an industry-first “sweetness” index which enables the scientific measurement of sweetness.

    This complements a precise calculation of ‘peatiness’ to create a balance between smokiness and sweetness – all driven by advanced technology.

    This method was developed by Malt Master Brian Kinsman at William Grant & Sons.

    Alongside its liquid, Ailsa Bay’s packaging features dynamic artwork which takes its inspiration from the creativity of science, reflecting the boundary-pushing technology at its Girvan distillery.

    Ailsa Bay is available in Australia through Vintage Cellars, select First Choice stores only and Liquorland select stores in December.

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  • Airport Retailing Consumer Electronics Market Witnessing a 2x Increase in Consumer Electronics Sales across SEA; India Most Lucrative

    Airport Retailing Consumer Electronics Market Witnessing a 2x Increase in Consumer Electronics Sales across SEA; India Most Lucrative

    The airport retailing consumer electronics market is foreseen to expand at a significant pace with global revenues crossing US$ 1,700 Mn in 2017, according to a new study. Traditionally pervasive as transportation service facilities, airports are now witnessing an influx of retail outlets for consumer electronics products. The shift in customer perspective toward airports as a retail destination continues to influence the growth of the airport retailing consumer electronics market.

    Fact.MR envisages that prospects for consumer electronics in airports are expected to remain promising, with the airport retailing consumer electronics market to grow at a CAGR of 6.3% in terms of value throughout the period of forecast, 2018-2028.

    The market valuation is likely to remain influenced by growing number of airports. Sales of consumer electronics in airports are projected to remain concentrated in the Southeast Asian (SEA) countries, making the region a lucrative market for airport retailing consumer electronics. India is poised to showcase higher market attractiveness in SEA during the forecast period on the back of steady economic development coupled with rising air tourism, according to the study.

    India’s lucrativeness in the airport retailing consumer electronics marketplace is attributed to rising number of air passengers. According to IATA (International Air Transport Association), the air passenger count in India is expected to reach 478 million by 2036. This is expected to present potential opportunities of growth for airport retailing consumer electronics in the coming years. In addition, sales of airport retailing consumer electronics on departure are likely to be on an upswing as compared to sales on arrival in the country. The report forecasts that the sales of airport retailing consumer electronics in India could exceed US$ 250 Mn by 2028.

    Growing sales of accessories are expected to largely contribute to the growth of the airport retailing consumer electronics market, according to the report. Consumer preference for accessories is projected to expand at a higher rate as compared to electronic devices. Against this backdrop, airport retailers are also planning to rent accessories for travellers opting for short trips.

    IATA projects that by 2036, global air passenger traffic is expected to reach 7.8 billion. This indicates that growth of airport retailing consumer electronics market is likely to remain significant in large airports. However, medium size airports are projected to showcase growing demand for airport retailing consumer electronics, says the report.

    Trend of hyper-personalization remains instrumental in driving growth of airport retailing consumer electronics market. With critical airline restrictions apropos to amount of goods to be carried in flight, a new personalised service in the airport retailing consumer electronics space has been witnessed. Airport retailing consumer electronics stores can use customer data from boarding passes, and deliver products to the customer’s destination. This trend is likely to influence growth in revenues of airport retailing consumer electronics in the coming years.

    Advertisements on flyers continue to remain instrumental in driving the growth of airport retailing consumer electronics market. Growing digitalization coupled with product displays on flyers are expected to influence sales of consumer electronics in turn presenting positive growth avenues for airport retailing consumer electronics market. This is likely to translate into increasing product sales across specialty retail stores in airports, consequently making them a key growth platform for airport retailing consumer electronics, says the report.

    As traditional brick and mortar sales are getting impacted due to mega trends such as relentless onslaught of online selling platforms, the physical retailing in airports is thriving. Overall, the airport retailing consumer electronics scenario remains positive and stakeholders can expect an optimistic growth path in the airport retailing consumer electronics market in the forthcoming years.

    The insights presented here are from a research study on Airport Retailing Consumer Electronics Market by Fact.MR

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  • AirAsia X load factor, passengers up in Q3

    AirAsia X load factor, passengers up in Q3

    AirAsia X Bhd reported a 1% growth in the number of passengers carried to 1.51 million for the third quarter of 2018 against 1.50 million in the same period last year.

    Its load factor was also 1 percentage point higher at 80% from 79%, according to the long-haul low-cost carrier’s statement.

    However, AirAsia X Malaysia’s available seat kilometres (ASK) capacity fell 4% to 8.81 billion due to redeployment of capacity to the North Asia region following capacity management in Australia in February 2018 and termination of services to Teheran.

    The fleet size of AirAsia X Malaysia remains at 22 Airbus A330s as at end-September 2018.

    AirAsia X said during the quarter under review, there was a seasonal increase in frequency to selected destinations in Australia (Melbourne, Perth and Sydney) in July, due to term holidays there, while frequency to Honolulu, Hawaii, was ramped up to daily flights due to stronger demand.

    In August, AirAsia X Malaysia commenced flights to Amritsar, its third city in India, and, in September, terminated flights to Maldives and transferred Kaohsiung to AirAsia Malaysia.

    Of the associates, AirAsia X Thailand registered a load factor of 87% and carried a total of 492,205 passengers in Q3, which was a substantial increase of 36% from the previous corresponding period.

    Meanwhile, AirAsia X Indonesia’s load factor stood at 80% with 108,700 passengers being carried in Q3.

     

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  • Vietjet and Japan Airlines to Commence Code share Ticket Sales

    Vietjet and Japan Airlines to Commence Code share Ticket Sales

    New-age airline Vietjet and Japan Airlines (JAL) has announced that both carriers` will begin sales of their codeshare flights starting Tuesday, 23 October 2018.

    This follows a formal partnership agreement between both parties in 2017, in which Vietjet and JAL signed a Memorandum of Understanding for commercial cooperation. The two airlines now offer codeshare flights on domestic destinations in Vietnam and on international flights between Vietnam and Japan.

    Applicable routes operated by Vietjet include domestic flights connecting Ho Chi Minh City and Hanoi; Ho Chi Minh City and Da Nang; Hanoi and Da Nang; and international flights linking Kansai with Hanoi. The codeshare flights will be available for travel from 28 October 2018, while the Kansai to Hanoi route specifically commences operation on 8 November 2018.

    According to the agreement, Vietjet and JAL aims to continue expanding their codeshare routes in the near future, including other flight services between Japan and Vietnam as well as JAL’s domestic flights, and Vietjet’s domestic flights.

    Vietjet, the largest domestic airline in Vietnam, started its flight services in 2011 and now operates an expanding network all over Vietnam and Asia. Offering convenient and friendly services with reasonable fares and many other attractive add-on services, Vietjet has succeeded in creating new demands in Vietnam. As a new-age carrier, it also offers top-class service called “SkyBoss”, which has been very well received among passengers expecting quality service.

     

  • President Xi Jinping expected to launch the Hong Kong-Zhuhai-Macau bridge

    President Xi Jinping expected to launch the Hong Kong-Zhuhai-Macau bridge

    The Hong Kong-Zhuhai-Macao Bridge – the world’s longest sea bridge which has taken nine years to build – is expected to be officially opened by President Xi Jinping next Tuesday. Central government’s liaison office in Hong Kong has announced the event will take place in Zhuhai on October 23 but Xi will apparently not be crossing over to the Hong Kong side to mark the linking of the three cities through the mega project

    The 55km bridge marks a new milestone in Beijing’s broader push to create the Greater Bay Area – a technology-led economic hub comprising Hong Kong, Macau and nine Guangdong province cities with aspirations to rival California’s Silicon Valley.

    The bridge will put the three cities it links within an hour’s drive of each other and is expected to boost economic development and tourism in Hong Kong, which has invested HK$120 billion (US$15.3 billion) in the project.

    The bridge will provide a fast lane to the western part of the Pearl River Delta, Guangdong and Guangxi. A trip between the Kwai Chung Container Port and Zhuhai would be reduced from about 3½ hours to an hour and 15 minutes.

    And it would only take around 45 minutes to travel from Hong Kong International Airport to Zhuhai instead of the current four hours.

    The presidential trip, the subject of much speculation this year, would be highly symbolic in marking the 40th anniversary of China’s landmark economic reforms and opening-up policy.

    The southern economic powerhouse of Guangzhou was the lead runner in the reforms, with Shenzhen chosen as the first special economic zone to test out market-oriented policies.

    It was also the destination of Xi’s maiden visit outside Beijing after taking power in late 2012, and was seen as a strong signal of his support for greater market-oriented reforms.

     

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  • Daniel Wellington put more focus to boosts travel retail sector

    Daniel Wellington put more focus to boosts travel retail sector

    Daniel Wellington is strengthening its expansion in global travel retail, opening more than 35 stores in key travel destinations during the past six months.

    Helen Wong, head of travel retail at Daniel Wellington said that the watch brand has consolidated its brand image in travel this year through stronger collaborations and exclusive concepts.

    “We are approaching the travel retail experience not only on a product level, through our new Daniel Wellington travel retail-exclusive products, but also through elevated brand concept environments,” she said.

    “Thanks to stronger collaborations with our partners and popular demand from our fans, we have been able to present the brand in creative and engaging pop ups and shops-in-shops this year, with more exciting spaces to come.”

    The company opened at Shenzhen Bao’an Airport last month, marking the first Daniel Wellington boutique in a travel retail location at a Chinese airport.

    In Malaysia, the brand has partnered with Dufry to open at the Genting Highlands integrated resort, northeast of Kuala Lumpur.

    And in Thailand, Daniel Wellington has signed the lease for its first store, to be opened at Chiang Mai in partnership with local duty-free retailer King Power.

    Travel is also on the agenda in South Korea, where the brand is consolidating its presence with renovation projects planned across 16 locations, including in Seoul, Incheon, Busan and Jeju. The brand is also targeting premium destinations and has designed a new furniture concept specially for travel retail locations.

    Other travel retail openings this year include a first store in Cam Ranh Airport, which serves the popular Vietnamese tourist destination of Nha Trang.

    Besides opening stores in travel-related locations, Daniel Wellington has developed products exclusive to these stores this year, including the Classic Cambridge 36mm style modelled on the 40mm size, one of the brand’s first styles launched.

    Wong said the company’s greatest focus during coming months will be to solidify the brand awareness through controlled distribution and a global social media strategy for travel retail.

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  • Singapore tourist spends less

    Singapore tourist spends less

    Singapore tourist spending has dipped by half a percent, despite a 7.3 per cent boost in arrivals.

    According to the Singapore Tourism Board, about 4.6 million visitors arrived in the city state in the first quarter of this year – but they spent less on shopping and accommodation. Their total collective spend was about S$6.7 billion.

    According to the government data, tourist spending on shopping declined 9 per cent, with accommodation spending down 13 per cent and food and beverage down by 16 per cent.

    Instead of spending in shops, hotels and eateries, tourists splurged on sightseeing, gambling and entertainment, collectively up by 6 per cent.

    China, Indonesia and India were Singapore’s largest source of visitors and spending during the quarter.

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  • Shiseido sales fueled by travel retail

    Shiseido sales fueled by travel retail

    Japanese beauty giant Shiseido Group has revealed strong sales revenue boosted by travel retail in its mid-year results.

    Shiseido sales reached ¥532.6 billion (US$4.8 billion), with ¥47.66 billion ($430.56 million) net income attributable to the business owners, 153.5 per cent above figures for the same period last year.

    A major influence on the group’s performance this year has been the 40.3 per cent increase in sales across the firm’s travel retail business.

    “In the travel retail business, the benefits derived from active investment in marketing, which included further increase of advertising and promotion in airports around the world, led to continued growth in sales of Shiseido, Cle de Peau Beaute, Nars, and Anessa that far outperformed last year, mainly in Asia,” the company reported.

    The company’s sales performance during this period has encouraged management to expect to achieve its “Vision 2020” goal of ¥100 billion ($904 million) in operating income and an operating margin of 10 per cent two years ahead of schedule.

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  • 4 leases available at Singapore Changi Airport

    4 leases available at Singapore Changi Airport

    Continuously ranked as one of the best in the world, Singapore Changi Airport is an experience rather than a simple stop towards your destination.

    The award-winning airport offers its visitors a wide range of attractions, from shopping to dining and entertainment experiences, spread across its four terminals.

    Changi Airport Group is currently looking for established retailers as it is seeking to lease four three years concessions with no renewal options in Terminal 1 at Departure/Transit Lounge West on Level 2. To offer diversity and complete their customers’ experience, they are seeking mid-price fashion brands to add to their portfolio.

    A CAG representative shared their desire for “exciting and unique mid-price fashion brands and concepts that will inject buzz to and differentiate the retail offering”.

    Effective from April 2019 to 2022, the lots range from 70 square meters to 110 square meters.

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  • Brookstone files for bankruptcy for the second time

    Brookstone files for bankruptcy for the second time

    Quirky gadget retailer Brookstone has filed for Chapter 11 bankruptcy protection – again.

    But the company has a clear strategy for its survival: closing its 101 remaining mall-based stores in favour of focusing on expanding its airport retail concept – which now numbers 35 stores – selling goods online and wholesaling.

    Brookstone has secured US$30 million in bankruptcy financing from Wells Fargo and Gordon Brothers. It said the mall-based store business was no longer viable “following continued deterioration of traditional retail mall traffic”.

    But its airport, online and wholesale operations are “operating successfully and should prove attractive to a buyer with the financial resources and vision to carry our company into the future,” said CEO Piau Phang Foo in a statement.

    Brookstone was founded in 1965, selling “hard-to-find tools” through Popular Mechanics magazine as a direct-marketing business. It opened its first brick-and-mortar store in 1973.

    In 2014 it was placed in Chapter 11 before being rescued by China’s Sailing Capital and Sanpower Group for $174 million.

  • 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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