New joint venture to operate 20,000 square feet of prime specialty retail space at NYC’s busiest terminal
In late breaking news today, LS travel retail North America, a Lagardère Services company, has announced that it has acquired assets of Saveria USA, Inc. allowing for the operation of 20,000 square feet of prime specialty retail space within John F. Kennedy International Airport’s Terminal 4 retail lounge.
The predominant specialty retail operator at Terminal 4 since 2002, Saveria USA, Inc. was founded by the Sardana family, who will partner with LS in a new JFK Terminal 4 venture moving forward. More than 18 million travelers pass through the terminal each year.
“Following Saveria’s many years in Terminal 4 – a premier travel gateway into New York City – we look forward to working closely with JFKIAT and the Sardana family to take the shopping experience offered to Terminal 4 travelers to a whole new level,” said Dag Rasmussen, Chairman and CEO of Lagardère Services.
“By acquiring certain assets of Saveria USA, LS travel retail North America will bring its significant expertise to the benefit of Terminal 4’s concession program and to the millions of passengers who pass through its doors each year,” he continued.
Gerry Savaria, President and CEO of LS travel retail North America added, “Terminal 4 at JFK is a model for other airport terminals around the country. We are excited to begin this new part of the Saveria story and are eager to work with JFKIAT for many years to come.”
Terminal 4, operated by JFKIAT, LLC – the only non-airline, privately-operated terminal in the U.S. – is home to 28 airlines and features a host of internationally recognized retail brands.
Offering a wide variety of products, the 17 existing LS/Sardana shops include Tumi, Longchamp, Hugo Boss, Swarovski, Bijoux Terner, and Chocolate and More. LS plans to redevelop an additional 9,000 square feet into new specialty retail shops that will complement the existing offerings at Terminal 4.
“This new partnership with LS travel retail will ensure that Terminal 4 passengers have the most pleasant and efficient travel experience of any airport terminal in New York City,” said Gert-Jan de Graaff, President & CEO of JFKIAT. “With the help of this world-renowned company, travelers from all corners of the globe will continue to enjoy the brands and level of service offered by our tremendous retail partners.
Claus Kohlenberger, President of Saveria USA, Inc. added “We have the highest regard for the professionalism and dedication demonstrated by the LS team throughout the journey that led to the execution of this agreement and believe they will be a great fit with the excellent team at JFKIAT. This strong partnership shares a common thread: our passion for travel retail and commitment to serving passengers.”
About LS travel retail
Operating in more than 30 countries throughout Europe, North America, Asia and the Pacific, LS travel retail, a division of Lagardère Services, is a world leader in Travel Retail. It operates more than 4,100 stores across the world, including a presence at over 150 airports and 700 stations. It runs the largest international network of duty free and luxury, travel essentials and foodservice stores.