Lagardere Travel Retail records sharp increase in Asia Pacific sales in 2015 results
Lagardère Group generated solid growth in 2015 with overall sales for the year up 3% on a like for like basis.
According to the company, the growth momentum of travel retail is ongoing despite a slowdown in France due to the November attacks. Travel retail now represents 73% of total consolidated sales and showed an overall increase of 8.2% in 2015. This solid growth was driven by passenger traffic, proper consolidation of acquisitions and development of networks including modernized stores, winning bids, and the rollout of new concepts. All geographic areas posted positive trends with Asia-Pacific showing the biggest increase 10.4%.
For Q4 2015 sales growth in Asia Pacific was steep at 17%. This was helped by growth in New Zealand following the July opening of duty free sales outlets in Auckland airport. China recorded satisfactory activity due to the sustained development of fashion operations in Kunming and Xi’an.
Overall for 2015 the company noted that ‘the development strategy of Lagardère Travel Retail was a success, with accelerated organic growth in Travel Retail and the completion of acquisitions in a growing North American market (primarily Paradies)’.