The World’s Top Travel Retailers
China Duty Free Group maintains top ranking among world’s top travel retailers
As The Moodie Davitt Report prepares to publish our annual guide to the world’s leading travel retailers (see our July/August Magazine, out soon), we present a snapshot of the top five players in this eZine. Compiled, written and edited by Dermot Davitt and Martin Moodie.
China Duty Free Group (CDFG) has maintained its market leadership among the world’s top travel retailers for a third straight year, based on 2022 turnover. That’s according to The Moodie Davitt Report’s annual rankings, which will be released in full shortly.
The state-owned company’s strong performance during the pandemic – built on China’s robust domestic travel market allied to an unrelenting investment mindset and approach at CDFG – propelled the company to number one status. Despite COVID-19 travel restrictions and store closures last year, CDFG remained ahead of a resurgent Dufry, which jumped back into the number two position.
The top five is completed by Lotte Duty Free, Lagardère Travel Retail and The Shilla Duty Free respectively. Our full rankings, alongside comprehensive commentary on each player, will appear in our forthcoming July/August Magazine.
Snapshot of a powerhouse player in action: CDFG maintains its number one ranking for the third straight year
As in last year’s report, which covered 2021 performance, some big names from the Asia Pacific market are absent or remain lower ranked than traditionally, due to the relatively late recovery of travel at scale, and of course, the absence of Chinese visitors.
That picture is certain to change as Asia Pacific travel growth accelerates, and as Chinese group and individual tourists resume foreign travel.
In these updated rankings (derived from company reports and our estimates) we include some alternative figures (mainly online), plus duty free and duty paid.
So how do the leading travel retail companies rank for 2022? Read on for a snapshot of our top five and look out for the full report that follows soon.
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The Moodie Davitt eZine
Issue 325 | 2 August 2023
The Moodie Davitt eZine is published 14 times per year by The Moodie Davitt Report (Moodie International Ltd). © All material is copyright and cannot be reproduced without the permission of the Publisher. To find out more visit www.moodiedavittreport.com and to subscribe, please e-mail kristyn@moodiedavittreport.com