Travel Markets Insider Newsletter Vol. 17 No. 50

The Travel Markets Insider newsletter is attached to this post as a PDF file. To open the PDF file, please click on this link.

 

With the 2016 ASUTIL Conference set to start next week in Santiago, Chile, this issue of Travel Markets Insider starts with an in-depth interview with the South American Duty Free Association’s Secretary General, Jose Luis Donagaray, who speaks about some of the key issues in the region. Chief among the challenges are Brazil and the shocking allegations of money-laundering against the Waked organization. Donagaray also talks about how the theme of this year’s conference is designed to help businesses in the industry go forward in light of today’s business climate. Inside Insider, page 1.
The repercussions from the charges the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has levied against the Waked organization are growing. Last week Grupo Wisa closed its duty free stores in Colombia’s El Dorado airport in Bogota, and Mr. Abdul Waked for the first time spoke out about the charges in an exclusive interview on Telemetro Reporta Panama. Grupo Wisa, under the signatures of Abdul and Hamudi Waked, also issued an update about its activities in Washington and took the opportunity to thank their supporters. To see a copy of the latest Grupo Wisa Memo, please click here. Stories on pages 1-3.
The latest numbers out of South America’s leading economies are not too encouraging.Argentina’s Indec statistics agency, in its first report since President Mauricio Macritook office in December, reports that industrial output fell significantly in April. Brazil’seconomy continues to contract, turning in its eighth consecutive drop, reports the state-run Brazilian Institute for Geography and Statistics. See details on page 3.
People. William Grant & Sons André de Almeida is leaving the company to take the top TR position with independent Scotch distiller Loch Lomond. Gebr Heinemann‘sNadine Heubel comes to Miami to head up Heinemann Americas.
 
Beauty. Elizabeth Arden buys the Christina Aguilera fragrance license. Shiseido to acquire U.S. makeup artist brand Laura Mercier. Page 3.

 

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