China Tourism Group Duty Free Corporation FY2022: profit plunges 47.95 percent
China Tourism Group Duty Free Corporation has reported its preliminary results for fiscal 2022, according to a report published by China Travel News. The parent company of China Duty Free Group saw profit plunge 47.95 percent yoy to CNY5.025 billion after the now-lifted COVID-restrictions wiped out travel for the bulk of the year.
L’Oréal teams up with Tripadvisor to boost travel retail
L’Oréal has partnered with Tripadvisor in a bid to drive awareness of the French beauty giant’s travel retail offer, according to a report published by TR Business.
Hong Kong issues green bonds as China prepares to open borders
The Airport Authority of Hong Kong is offering a five-year green tranche as well as three-year, seven-year and 10-year notes to fund its planned expansion as China prepares to lift the travel restrictions that have been in place since the start of the pandemic, according to a report published by Bloomberg.
Benamor to supply products to TAP Air Portugal
Portuguese beauty brand Benamor has partnered with TAP Air Portugal and will supply the airline with toiletries for its business class amenity kits and lounge as well as hand soap for aircraft, according to a report published by Simple Flying.
Dufry Q3 2022: travel back in business with summer sales boost
Dufry has reported its results for the third quarter of fiscal 2022. The travel retail operator said that sales soared 58.6 percent yoy in the three months to September 30, 2022, to CHF 2115.2 million, bringing the nine-month total to CHF5.037.6, up 98.8 percent on the same period last year.
The Estee Lauder Companies names VP/GM Travel Retail Southeast Asia
The Estee Lauder Companies has named Bart Dubbeld Vice President / General Manager of its Travel Retail Southeast Asia division, effective immediately.
Hope on the horizon for Japanese department stores as travel restrictions lifted
Shares in Japanese department stores started to climb after the country announced an end to travel restrictions that have been in place since the start of the pandemic, according to a report published by Bloomberg.
UK brings back duty free shopping
The UK’s new finance minister, Kwasi Kwarteng has announced that he intends to reverse the previous chancellor’s decision to end duty free shopping, according to a report published by Reuters.
China Tourism Group Q2: revenue plummets as a result of lockdowns but hope on the horizon as cases drop
China Tourism Group saw revenue plummet 38 percent yoy to CNY10.868 million in the second quarter of the financial year as a result of China’s continuing lockdowns, according to an article published by Moodie Davitt Report.
The Estee Lauder Companies announces new Travel Retail leadership appointments
The Estee Lauder Companies has announced that Patrick Bouchard has been promoted to Senior Vice President / General Manager, La Mer and Le Labo, Travel Retail Worldwide, effective immediately and that Eric Lee has been appointed to SVP, Business Development and Strategy, Travel Retail Worldwide, effective September 6.
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