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As we prepare to go to press, the L’Oréal Group announced that it has delivered its strongest first half like-for-like growth in more than a decade at +7.3%.
Based on reported figures, the Group’s sales as of June 30, 2019 amounted to 14.81 billion euros, (+10.6%). Asia Pacific was one stand-out, not surprisingly, and travel retail “another of the Group’s growth drivers” according to Chairman and Chief Executive Officer Jean-Paul Agon, has grown by +21.2%.
The Active Cosmetics Division had an outstanding first half up +13.6% like-for-like and +15.1% based on reported figures — Asia Pacific, North America and Latin America performed particularly well. Overall, Latin America continues to suffer, especially in Argentina.
TMI will post a more detailed report in the next issue.
BY THE NUMBERS
Today, the news is all about the numbers.
Dufry accelerated its global organic growth in the first half of this year, despite the challenging market in South America. LATAM began showing some encouraging signs of recovery in July, said the company. Full story begins on page 1.
Is Argentina creeping out of recession? Following on the above, Argentina’s economic activity rose for the first time in over a year in May, reported Mercopress this week. The 2.6% rise versus the same month a year ago broke a run of 12 consecutive months of falling economic activity, said the media site last Friday. See page 3.
Luxury thrives. LVMH has reported an excellent first half, recording revenues of 25.1 billion euros for the period, and profits up by 14%. DFS turned in a solid performance, benefiting from the rise in international travelers, say the company. Page 4.
DFWC. The Duty Free World Council has called for more customer engagement in its latest DFWC KPI Monitor for Q2 2019. The report, which was produced for the DFWC by m1nd-set, shows steady growth in some of the key satisfaction drivers for duty free shoppers, but the level of engagement between staff and visitors to the duty free shops has declined by 5% since the previous quarter. Read more on page 3.
SUPPLY SIDE NEWS
The Wild Tiger Roars as Wild Tiger Rum Founder and Chief Brand Officer Gautom Menon and Brand Creative Head Paul George V began The Roar Trip this week, a 25,000 km, ten week journey that will take them from India to Cannes to raise awareness for tiger conservation. To see how to follow Gautom on his historic journey go to page 2.
William Grant & Sons Global Travel Retail has expanded in the Americas. See new people and promotions on page 1.
Halewood Wines & Spirits will launch Crabbie Single Malt Scotch Whisky and Crabbie’s Yardhead in global travel retail at the TFWA World Exhibition in Cannes. Page 4.
Diageo Global Travel will launch the limited edition Johnnie Walker Blue Label Ghost and Rare Glenury Royal in global travel retail beginning in October 2019, the third in a series of special editions crafted using irreplaceable “ghost” whiskies and other rare whiskies from the reserves used to create Johnnie Walker Blue Label. Page 4.