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.
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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 2022: The New Concepts Nordstrom platform and the British luxury brand Burberry announced the debut of Concept 019: Burberry with the introduction of a capsule collection and several in-store installations. The capsule collection includes outerwear staples, including trench coats and puffer jackets, while ready-to-wear and accessories for men, women, and children include graphic T-shirts, knitwear, tailoring, bags, shoes, and scarves.
- September 2022: Hermès International S.A. announced the opening of a new duplex store offering a range of premium apparel within the Union Square shopping mall in Ho Chi Minh City, Vietnam.
- February 2022: LVMH announced its plans to acquire the United States-based luxury brand, Ralph Lauren. The company intends to increase its worldwide brand development. In a developing market like Saudi Arabia, where Ralph Lauren already has an omnichannel presence, this purchase will allow brands to mold themselves according to the region's demographic trends and deliver new-end products to Saudi consumers.
- November 2024: N-Sea inked a long-term charter deal with Mainport Shipping for the vessel Geo Master. Neptune Construction in Hardinxveld-Giessendam, the Netherlands, is set to build the vessel. N-Sea highlighted that the new vessel mirrors the design and equipment of the Geo Ranger, which is already managed and controlled by the N-Sea Group. N-Sea will exercise full commercial management and control over the vessel. The delivery is slated for the first quarter of 2026, with operational status anticipated by mid-March 2026.
- November 2024: Sea1 Offshore is poised for expansion, placing an order for two next-generation offshore energy support vessels from Cosco Shipping (Qidong) Offshore. Each of the newly ordered vessels will span 120 meters in length and boast a cargo deck area of 1,400 square meters. Equipped with a 250-tonne deck crane, each ship will also accommodate up to 120 personnel. Furthermore, both vessels will feature an ROV hangar and a moonpool. Designed with future sustainability in mind, the vessels will be methanol-ready, and their generators will operate on 100% biofuel. With the anticipated delivery of these new builds in 2027, Sea1's fleet will expand to 19 modern offshore vessels.
- September 2024: Photon Energy announced the successful completion and commissioning of a 7.5 MWp photovoltaic power plant in Romania. Situated near Făget in Timiș county, this plant marks a pivotal addition to the company's expanding portfolio of renewable energy assets. With the inauguration of this facility, Photon Energy now operates a total of 100 plants, further solidifying its stature in the solar energy market.
- August 2024: INVL Asset Management, a fund manager based in Lithuania, successfully raised EUR 24.4 million (USD 26.4 million) to construct a 60-MW solar farm in Romania. The financing, evenly divided between the European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group based in France, was allocated to INVL Renewable Energy Fund I. The solar farm is set to be established in Dolj County, Romania.
- July 2023: Saudi Arabia's Public Investment Fund established a new company Al Madinah Heritage Company (MHC) to develop and boost the production of Ajwa dates in the Madinah region as part of efforts to further enhance the kingdom's food and agriculture industry.
- April 2022: The National Center for Palms and Dates has officially launched the 'Saudidates' platform, an innovative, convenient, and efficient business-to-business electronic market where buyers across the globe can buy dates in bulk from sellers in the Kingdom of Saudi Arabia.
- October 2024: Fujifilm Corporation unveiled its latest addition to the X Series, the "Fujifilm X-M5". Weighing in at a mere 355 g, the X-M5 claims the title of the lightest camera in the series. This compact marvel boasts advanced features like Artificial Intelligence (AI)-driven subject detection autofocus for moving entities and a 6.2K/30P movie recording capability. Designed for everyone, from novices to seasoned photography enthusiasts, the X-M5 promises to elevate the photography experience.
- September 2024: Canon Inc. introduced the RF28-70mm f/2.8 Image Stabilization (IS) Stepping Motor (STM) lens, designed for the EOS R mirrorless camera system, promising to broaden imaging horizons. This f/2.8 constant aperture standard zoom lens, Canon's first non-professional-grade variant, enhances accessibility for a wider audience. Complementing this release, Canon launched the EOS C80 digital cinema camera, part of its Cinema EOS visual production lineup. The EOS C80, with its lightweight design, 6K full-frame sensor, and user-friendly features, is tailored for top-notch video production.
