The World’s Top Travel Retailers Report (continued)
Lagardère Travel Retail
2022 Sales (million)
€4,263
2022 Rank
4
Movement
△2
Lagardère Travel Retail posted €5,200 million in managed turnover across its three business lines in 2022, including joint-venture revenues and those from its important food & beverage division. Excluding the F&B component (€937 million), the figure for retail alone stands at €4,263 million, placing the company fourth in our rankings. Crucially, the Lagardère Group division also moved back into profit.
Revenues swung back to around -10% behind 2019 levels across a well-balanced portfolio. Duty free & fashion accounted for 38% of sales (35% in 2021), travel essentials 39% (43% in 2021) and food service 23% (22% in 2021).
Encouragingly, the momentum has continued in 2023, with all regions except France reaching revenues in Q1 on par with or ahead of the same period in 2019. North America and EMEA performed well, while Asia Pacific performance has accelerated from a low comparable base in Q1 2022.
There, China remains a key focus market, one in which the group has built a strong network in duty paid stores across air and rail channels.
*Full commentary appears in our July/August Magazine.
The company's partnership with ADP for the Extime Duty Free business at Paris Charles de Gaulle and Orly is a cornerstone of its Europe operations
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The Moodie Davitt eZine
Issue 325 | 2 August 2023
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