Lagardere Travel Retail capitalizes on the travel retail recovery in China with new Luxury Beauty & Fashion store openings
Lagardère
Travel Retail announces the opening of eight Luxury Beauty & Fashion stores
in two major Chinese airports, Shanghai Hongqiao and Shenzhen. This strong
development dynamic builds on the recovery of domestic air traffic in China and
the growth in domestic consumption.
In recent months Lagardère Travel Retail has opened eight new
stores in partnership with global Fashion & Beauty brands in two of China’s
largest airports. Several of these openings mark the first time brands enter
China’s travel retail market, reflecting the company’s ambition to bring
innovation and dynamism to airport retail in China.
In Shanghai Hongqiao Airport,
Terminal T2, Lagardère Travel Retail has opened six stores:
·
Chanel Beauty and
Accessories , an 80sqm store, offering a
wide range of cosmetics, fragrances and accessories – it is the brand’s first
boutique in a domestic airport terminal in China;
·
Parfums Christian
Dior , an 81 sqm Perfume and
Cosmetics store;
·
Givenchy , a 66 sqm new concept Cosmetics and
fragrance store, the first one in an airport in China.
·
Shiseido , a 67 sqm Perfume and Cosmetics boutique,
the brands’ first boutique in a domestics airport in China;.
·
Gucci Watches &
Jewelry , a 58 sqm fashion jewelry and
watches store;
·
Sandro , a 93 sqm fashion store, the first Sandro
store in an airport worldwide.
In Shenzhen Airport, Terminal T3,
Lagardère Travel Retail has opened two stores with brand partners new to its
portfolio in China:
·
A 150 sqm Cartier store,
specialized in high jewelry, watches and accessories
·
A 134 sqm Burberry Fashion
store
With the improvement of the health
situation in China thanks to strict safety and hygiene rules being enforced
throughout the country and in airports, domestic traffic has recovered quickly.
Economic policies to stimulate domestic consumption are also paying off and
Chinese shoppers are eager to resume travel and shopping, with a particular
appetite for luxury goods.
Lagardère
Travel Retail in China is well positioned to capitalize on this rebound. As the
leading travel retailer in domestic airport terminals and with an ambitious
development strategy, the company is well-positioned to support brand partners
achieve their strategic development objectives in Chinese airports.
Commenting on the new openings, Eudes Fabre, CEO for North Asia
at Lagardère Travel Retail, North Asia, said :
“China is an incredibly resilient market, it has been breathtaking to observe
how fast domestic traffic has returned to pre-crisis levels, and how eager
Chinese shoppers have been to come back to our stores. The growth of the
country’s middle class and its appetite for luxury brands has supported a sharp
rebound in our business here. I am pleased that we are able to build on our
leading market position and in-depth understanding of the local travel retail
market to partner with some of the world’s leading luxury brands to support
their development in what remains an uncertain environment.”
Lagardère Travel Retail started operations in China in 2007 and
now has over 400 stores in 26 airports.
ABOUT LAGARDÈRE TRAVEL RETAIL
One of the two divisions of the Lagardère group, Lagardère Travel Retail is a
global leader in the travel retail industry. Operating 4,800 stores across
Travel Essentials, Duty Free & Fashion and Foodservice in airports, railway
stations and other concessions in 39 countries and territories, Lagardère
Travel Retail generated €5.5 bn in sales in 2019 (managed 100%).
Lagardère Travel Retail has a unique holistic approach aimed at exceeding
travelers’ expectations throughout their journey, and optimizing landlords’
assets and partners’ brands.
www.lagardere-tr.com ● @LagardereTR
* This article was originally published here
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