February 7 2020  |  People

Top Brands International names Marcelo Montico CEO of its Neutral by Luryx stores in Uruguay

By Ronnie Lovler

Top Brands International has named Marcelo Montico (above) as CEO of its new nine-store chain of Neutral by Luryx duty-free stores in Uruguay.

The Panamanian-based company purchased Neutral in July 2019, establishing itself as a major presence in South America. More recently, Top Brands won exclusive rights to run duty-free operations at Silvio Pettirossi International Airport in Paraguay,

In an exclusive interview with Americas Duty Free, Top Brands President Danny Yohoros said Montico was chosen to lead the Neutral effort because “he is a person with full experience and know-how who has been working in Uruguay for seven years.” Yohoros said he was impressed by Montico as a competitor and wanted to bring him on board. Before joining Neutral, Montico had set up his own distribution company to help operators seeking to break into regional duty-free business on the Brazilian side of the border. He joined Neutral in January.

“I feel very honored by the confidence placed in me by the Top Brands Group in appointing me to lead an organization like Neutral,” Montico told Americas Duty Free. “The current context of our industry in the region forces us to manage the business with a very high dose of creativity and determination, and all of us who make up this work team are committed to achieving the efficiency that the group requires and that will allow us in the medium term recover the leadership position in the sector.

“I am convinced that, with the support of our business partners, the quality of our team and the financial strength of the Top Brands group as support, we will achieve it,” Montico added.

Yohoros said Montico is already getting very involved with the business. “We are making sure we have an adequate assortment of products to recuperate from the losses sustained in the last years,” Yohoros added.

Along those lines, Yohoros announced an agreement was recently signed with the jewelry company, Pandora, on an exclusive basis at the Neutral by Luryx stores in Uruguay. Additionally, Yohoros said the chain will have “stores within its store” for MAC cosmetic products at its Neutral stores in Rio Branco and Chuy. Also, upcoming will be the establishment of a loyalty program for Neutral by Luryx customers.

“This will attract new customers,” Yohoros said. “There will be many different exciting things that we will be bringing to the table.”

Neutral by Luryx now has 400 employees working nine stores in Uruguay along the border with Brazil. The stores are located in Rivera, Rio Branco, Artigas, Acegua, Chuy and Bella Union. There are two stores in Rivera and Rio Branco.

Brand News

October 20 2020

Jim Beam announces TR exclusive…

​Jim Beam Bourbon has announced the launch of Lineage – a batched premium expression exclusive to global travel retail

By Laura Shirk

October 19 2020

Beam Suntory launches first ever…

Beam Suntory has launched the first-ever world blended whisky, Suntory World Whisky ‘Ao’, exclusive to global travel retail

By Wendy Morley

October 19 2020

AHC to introduce new skincare products…

​Unilever-owned premium skincare brand AHC is to enhance its travel retail offerings with several new products that have…

By Mary Jane Pittilla

October 16 2020

DFD launches Writing & Arts category…

Duty Free Dynamics, major regional distributor within the Americas’ travel retail channel, is pleased to announce the debut…

By Laura Shirk

October 14 2020

MONARQ Group expands portfolio…

Signing Código 1530 Tequila and Villa Sandi and partnering with Fluère Drinks to introduce…

By Laura Shirk

October 13 2020

PanzerGlass taps Alan Brennan as…

​PanzerGlass, a Danish company specializing in mobile device screen protectors and other tech products, has appointed experienced…

By Mary Jane Pittilla

October 7 2020

CircleSquare introduces the revolutionary…

CircleSquare, the expert in retail marketing, brand experience and consumer engagement, has unveiled a new digital tool –…

By Laura Shirk

October 6 2020

Schäfer Airport Retail introduces…

Schäfer Airport Retail has announced the opening of two new Move consumer electronics stores at two of the top ten German…

By Laura Shirk

October 6 2020

Victorinox unveils re-launched…

In an exciting development for Victorinox’s fragrance business, the brand is re-launching its entire fragrance assortment…

By Laura Shirk

Copyright 2020 DutyFree Magazine. All rights reserved. Privacy Policy Sitemap