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Why Gucci, Louis Vuitton & Other Luxury Brands Are Betting Big on Airport Retail

Airport retail isn’t all snacks and paperbacks — luxury retailers like Louis Vuitton, Christian Dior and Prada are finding that on-the-go travelers are a lucrative demographic.
According to research from Bain & Company, luxury sales in airports grew by 7 percent in 2018 as global travelers upped their spending and brands opened new boutiques. Sales in department stores, meanwhile, fell 4 percent, reflecting the sector’s struggle to drum up foot traffic when shoppers are increasingly moving online. (E-commerce sales saw the highest growth, ballooning 22 percent year-over-year.)
In its 2018 annual report, Kering, which owns brands like Gucci, Saint Laurent and Balenciaga, revealed that travel retail is one of the conglomerate’s focus areas for growth, and it attributed much of its increased store count in 2018 — particularly for Gucci, which added 11 net locations — to “the group’s drive to raise its brands’ presence in travel retail and duty-free stores.” Currently, airport sales make up 6 percent of its overall revenue.
Airports are an appealing target for retailers not only because of their captive audience but also because travelers are willing to spend. A 2017 report from research firm GlobalData found that spending in airports is forecast to reach $49 billion by

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Via:: https://footwearnews.com/2019/business/retail/airport-luxury-retail-stores-gucci-louis-vuitton-1202765178/