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Travel Retail

Travel Retail Archives

South Korean duty-free retailers shutter downtown stores

South Korean duty-free retailers are temporarily shuttering metropolitan stores in response to a significant decline in ...

LVMH chairman Bernard Arnault to buy stake in Lagardere

LVMH chairman Bernard Arnault will buy a stake in Arnaud Lagardere’s publishing and media group Lagardere Capital & Mana...

Agoda axes 1500 staff as Covid-19 crisis decimates bookings

Asian online travel agency and metasearch engine Agoda has shed 1500 staff in a major downsizing brought on by the impac...

DFS Group starts winding down Changi Airport liquor business

DFS Group will close all of its stores at Changi Airport on June 8 as its 35-year tenure as wine and spirits concessiona...

Samsonite sales plunge 80 per cent as travel all but halts

With global travel now all but shut down, luggage-retailing goliath Samsonite is facing unprecedented challenges, with n...

Shinsegae profit all but evaporates as Covid-19 hits sales

Shinsegae, one of South Korea’s largest retail groups, has reported its net profit fell 99.8 per cent year on year as th...

Changi Airport further consolidates terminals; more stores shuttered

Following the suspension of operations in Terminal 2, Changi Airport is to further consolidate operations and indefinite...

‘Resilient’ LVMH caps sales decline to just 15 per cent during coronavirus

LVMH has reported a sales decline of 15 per cent for the first quarter of this year, a staggering achievement given its ...

Sunil Tuli takes over presidency of Aptra

Sunil Tuli, group CEO of King Power Group (Hong Kong) has taken over the presidency of Aptra (Asia Pacific Travel Retai...

Lagardere Travel Retail reopens 88 stores in Wuhan Airport

Lagardere Travel Retail has reopened 88 stores at Wuhan airport after more than two months of lockdown due to the Covid-...