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Reports from Singapore at the close of this year’s TFWA Asia Pacific Show are very positive, beginning with an upbeat State of the Industry overview from TFWA President Erik Juul-Mortensen at the opening of Monday’s Conference.
According to preliminary figures from Generation Research, Juul-Mortensen reports that duty free and travel retail sales reached US$68.6 billion in 2017, up more than 8% over the year before. Page 1.
Reflecting the strong business reported by Generation, Dufry released a very strong first quarter earnings report, with organic growth of 7.1% compared to the first quarter of 2017. It was a big step up from the 5.7% growth seen in the fourth quarter of last year. For more details and to see the results from the Americas, go to page 2.
SUPPLY SIDE
Bacardi has been extremely busy on all fronts over the past quarter, completing its acquisition of super-premium Patrón tequila, and launching new luxury products from its Scotch, rum and vodka businesses for Global Travel Retail. Full story on page 3.
Diageo has announced changes to the leadership team of its North American business. Page 1.
Swiss luxury skincare brand La Prairie has just completed a multi-tiered, interactive activation with DFS at Los Angeles International Airport, produced and managed by retail-focused design agency Bloommiami. Page 4.
Shiseido Travel Retail featured a striking booth under the theme of “Beauty and Strength” at the TFWA Asia Pacific Show in Singapore this week. The space was created in collaboration with Asia’s top university, the National University of Singapore, through a design project awarded to two NUS students, and is part of Shiseido’s quest to foster creativity and build partnerships with creative institutions. Read the full story on page 5.
