The Moodie Report

Travel Retail and Duty Free Business Intelligence    Tuesday 31 March 2015

The Moodie Report Stock Watch 30 March; Main mover: World Duty Free Group: Down -8.39%        China International Travel Services (CDFG): Close CNY51.36, Change +0.00%, 52-week High CNY52.23; 52-week Low CNY30.11       Dufry: Close 146.90, Change +8.49%, 52-week High 168.00; 52-week Low 120.50       Hotel Shilla Co Ltd (The Shilla Duty Free): Close ₩99,300 Change +1.33%, 52-week High ₩135,500; 52-week Low ₩78,700       Japan Airport Terminal Co: Close ¥7,270, Change +0.28%, 52-week High ¥7,460; 52-week Low ¥2,347       Lagardère (Aelia, LS travel retail, Relay ): Close €27.81, Change +1.37%, 52-week High €27.91; 52-week Low €17.83       LVMH (DFS Group, Starboard Cruise Services): Close €164.50, Change +1.39%, 52-week High €175.40; 52-week Low €109.41       MISR Duty Free Shops: Close 3.81, Change +0.26%, 52-week High 3.83, 52-week Low 2.88       World Duty Free Group: Close 10.04, Change -8.39%, 52-week High 11.40; 52-week Low 6.05      

Dufry-World Duty Free deal set to create US$8.1 billion market leader

INTERNATIONAL. “The acquisition of WDF is a truly unique and highly transformational transaction for Dufry and is equally a milestone for the travel retail industry overall.” Dufry CEO Julián Díaz hails his company’s swoop for World Duty Free Group, which will create a market leader with US$8.1 billion in sales and US$1 billion in EBITDA (based on 2014 figures). As well as bank financing, Dufry will be supported in the move by investors GIC (Singapore's Sovereign Wealth Fund), the Qatar Investment Authority and Temasek.

South Korean duty free surges +21.6% in 2014 on Chinese travel boom

SOUTH KOREA. Soaring Chinese arrivals and spending spurred a +21.6% increase in South Korean duty free sales last year to KW8.3 trillion (US$7.5 billion).

Dufry acquisition of World Duty Free creates travel retail superforce

INTERNATIONAL. Dufry's acquisition of a 50.1% shareholding in World Duty Free Group means that the retailer will control around one-fifth of sector sales.

Ken O’Toole named Managing Director of Manchester Airport

UK. Ken O’Toole is named as the new Managing Director of Manchester Airport and Andrew Cowan becomes the group’s new Chief Strategy Officer.

Budapest Airport launches Runway Run 3.0 for children's and cancer charities

HUNGARY. Budapest Airport and anna.aero are inviting runners from across the aviation community to take part in this year’s race on its 13R-31L runway.

SSP Group captures F&B contract at Beijing Capital International

CHINA. The Asia Pacific division of SSP Group has been awarded a six-year £60 million food & beverage contract at Beijing Capital International Airport.

Hong Kong International reveals new-look luxury retail zone

HONG KONG. Hong Kong International Airport has added ten new luxury brands to its Terminal 1 East Hall portfolio, including a number of firsts for the airport and region.

Kabuki Gate, Victoria’s Secret lead store openings at Tokyo Narita

JAPAN. Tokyo Narita Airport opened its Kabuki Gate store in Terminal 1 on 27 March, with a cluster of new and renovated stores also opening in Terminal 2.

The Moodie Blog: Concentrating hard in travel retail

Dufry is like a blue whale that's swallowed a Finback whale (Nuance) and a Right whale (World Duty Free) in rapid succession. The digestion process will be fascinating.

BRAND NEWS

Bacardi names Cruise Competition Bartender of the Year 2015

Holland America’s Gerome Firmalo has won the Bacardi Cruise Competition Bartender of the Year award for 2015, in a contest against 2,500 industry entrants.

Macintyre Scott Xtra to supply liquor to P&O Cruises’ Britannia

UK. Travel retail specialist Macintyre Scott Xtra will supply five gins and 30 British bottled beers as part of a new deal for P&O Cruises’ newest ship, Britannia.

Safilo Group announces Marc Schulte as new Head of Global Travel Retail

Previously from L'Oréal, Schulte will now focus on strengthening Safilo’s position in Asia, while continuing to accelerate growth in EMEA and the Americas.

Fashion company Desigual records +16.2% leap in annual turnover

Fashion brand Desigual posted €963.5 million in 2014 turnover, driven by women’s fashion and accessories as well as strong sales outside Europe.

British brand Reiss returns to Heathrow Terminal 5 with new design

UK. The British fashion brand opened its new store at T5 last week and is set to use the same design concept in stores in Toronto and New York.

Newly established Global Brand Equity Solutions gears up for IAADFS debut

Founded by industry veteran Jorge C Galbis, the company will showcase five brands, including Khortytsa Platinum Vodka and MB Miami Beach Suncare.

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