Duty Free And Travel Retail News
- October 2023: Lagardère Travel Retail stated that it reached a master concession agreement with Société des Aéroports du Benin, a state-owned enterprise, to run duty-free travel essentials and food service activities at Cotonou International Airport, Benin.
- September 2023: Lagardère Paradies acquired Fly. The deal was due for closure in the fourth quarter of 2023, subject to several circumstances, including regulatory approval and consent from third parties. With this acquisition, Paradies Lagardère's dining footprint in North America is expanding, and its standing as a leader in this industry is further cemented.
- July 2023: Lagardère Travel Retail partnered with Inflyter to digitalize the duty-free shopping experience for more travelers and provide them with enhanced opportunities to browse and buy items ahead of traveling. This extended partnership supports Lagardère Travel Retail’s overall digital strategy to diversify digital sales channels and multiply touchpoints to engage customers throughout their journey.
Get full market coverage in this industry
Download PDF
Related Travel Retail Industry News
- February 2024: DFS Group partnered with Douyin Life Service, a short video platform in China. The partnership aims to improve international travel retail shopping experiences.
- June 2023: DFS entered a strategic partnership with Ctrip Global Shopping and Unipay International. These partnerships aim to strengthen digitalization in the travel retail market.
- February 2024: DFS Group partnered with Douyin Life Service, a short video platform in China. The partnership aims to improve international travel retail shopping experiences.
- June 2023: DFS entered a strategic partnership with Ctrip Global Shopping and Unipay International. These partnerships aim to strengthen digitalization in the travel retail market.
- In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy.
- In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.
In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.
- In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology.
- In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.
- November 2023: The Western Australian government announced the construction of over 200 modular homes as part of its commitment of AUD 2.4 billion to address homelessness in the state. Similarly, the Victorian government unveiled a plan the previous year, allocating AUD 30.38 million to build 114 energy-efficient prefabricated modular homes for individuals experiencing homelessness or facing the risk of it. The increasing adoption of modular housing is expected to lead to cost reductions in construction as manufacturing scales up and efficiencies are achieved.
- August 2023: Modscape participated in QBuild’s Modern Methods of Construction (MMC) Housing Program to address the immediate housing needs in Queensland. This initiative was aimed at providing affordable and sustainable housing to Queenslanders, from essential government workers to those struggling with homelessness. The Queensland government’s commitment to addressing the housing crisis in the state led to the prototyping of the QBuild MMC Housing Program. This program aims to build approximately 100 essential worker homes across regional Queensland using modern methods of construction (MMC). The program is expected to provide valuable insights into how MMC can be used to deliver affordable and sustainable housing.
- June 2024: Snapchat owner Snap (SNAP.N) launched its latest iteration of generative AI technology for AR, which will allow users to see more realistic special effects when using phone cameras to film themselves.
- September 2023: Qualcomm Technologies launched two new spatial computing platforms, namely Snapdragon XR2 Gen 2 and Snapdragon AR1 Gen 1, to enable the next generation of mixed reality (MR), virtual reality (VR) devices, and smart glasses. The Snapdragon XR2 Gen 2 Platform brings premium MR and VR technologies into a single-chip architecture to unlock next-level immersive experiences in thinner and more comfortable headsets that do not require an external battery pack.
- June 2024: Third-party logistics giants like Delhivery and Xpressbees shifted focus from traditional e-commerce to the rapidly growing quick-commerce industry. This shift comes in response to a surge in demand from platforms like Swiggy Instamart, Blinkit, and Zepto. Delhivery, headquartered in Gurgaon and renowned as the largest player in the third-party logistics realm, has initiated the management of expansive warehouses for Swiggy Instamart. These warehouses cater to small dark stores and fulfillment centers in urban locales. Concurrently, Xpressbees, hailing from Pune, is actively exploring partnerships to make its foray into this dynamic market.
- February 2024: Shadowfax, a key logistics service provider for hyper-local and on-demand delivery firms in India, secured a substantial USD 100 million in its latest funding round. This funding comes behind an impressive 35% annual growth rate. Shadowfax's expansive network now spans 2,500 cities and over 15,000 zip codes. The company boasts a remarkable daily delivery volume, handling more than 2 million packages, and has garnered a user base exceeding 3.5 million.
- September 2023: Mighty Buildings, a start-up building tech for prefabricated, ostensibly environmentally-friendly homes, raised USD 52 million in a funding round co-led by Waed Ventures and Bold Capital with participation by Khosla Ventures. The company plans to use it for the Mighty Buildings’ expansion in North America and the Middle East, particularly Saudi Arabia, and support the launch of its next-gen modular home building kit.
- April 2023: The Kirby Building Systems’ project involving prefabricated buildings in Saudi Arabia included the 10,000 sq. m Al Naqel Express Warehouse. The ARAMCO Project involved the construction of a number of prefabricated buildings for the Saudi Arabian Oil Company, including warehouses. These are expected to be completed by 2024.
- September 2023: Mighty Buildings, a start-up building tech for prefabricated, ostensibly environmentally-friendly homes, raised USD 52 million in a funding round co-led by Waed Ventures and Bold Capital with participation by Khosla Ventures. The company plans to use it for the Mighty Buildings’ expansion in North America and the Middle East, particularly Saudi Arabia, and support the launch of its next-gen modular home building kit.
- April 2023: The Kirby Building Systems’ project involving prefabricated buildings in Saudi Arabia included the 10,000 sq. m Al Naqel Express Warehouse. The ARAMCO Project involved the construction of a number of prefabricated buildings for the Saudi Arabian Oil Company, including warehouses. These are expected to be completed by 2024.
