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The big news in North America this week takes place at the Canadian border, where incumbent concession holder Peace Bridge Duty Free successfully defended the duty free contract it has held there for the past 30 years. Peace Bridge Duty Free and theBuffalo and Fort Erie Public Bridge Authority have signed a long-term lease extension that could last another 20 years. See page 1 for more details.
In more news from Canada, airport duty free sales in June dropped 5% for the month compared to June 2015, reversing a long-term growth trend. However, a close look at the numbers shows that June 2015 was a particularly robust month, with sales surging by 21% compared to the year earlier. As it stands, Canada’s airport duty free sales for the first six months are still up more than 4%. Canada’s land border sales recorded nice growth of 6% in the month. Story on page 2.
Rounding out our Canadian trifecta, Quebec’s Importations Guay Ltee (IGL) sold a US$38,000 bottle of Balvenie 50 year old last Friday, the most expensive bottle of whisky ever sold by the operator. Page 3.
Dufry released its six month earnings; sales surged in the volatile first half, says the company, but organic growth was hit by the decline of sales to Russian travelers and the devaluation of currencies in Brazil and Argentina. Details on pages 1-2.
Brazil. The country’s interim president Michel Temer has vetoed part of a new law that would have allowed foreign investors to acquire 100% ownership of Brazilian airlines. Read more on page 4.
LVMH to sell Donna Karan International to US clothing firm. Page 2.
Mercedes-Benz Man fragrance launches in the Caribbean with Penha. Page 3.
Beam Suntory launches Maker’s Mark Cask Strength in travel retail. Page 3.
Rituals expands its sun care collection. Page 4.
People. Estée Lauder Companies promotes three executives. Page 1.