The Moodie Davitt Report -The Moodie Davitt Report
FRANCE. Significantly, Lagardère Travel Retail is maintaining its co-partnership status with Groupe ADP in a new joint venture.
The French travel retailer will be a partner of the airport company in Extime Duty Free Paris, as part of the deployment of the new Extime hotel and distribution brand unveiled in February.
This news follows a public consultation on Groupe ADP’s duty free and retail activities for Paris-Charles de Gaulle and Paris-Orly airports.
Extime Duty Free Paris will operate approximately 140 beauty, gourmet, technical and fashion outlets. It will be owned 51% by Groupe ADP and 49% by Lagardère Travel Retail, subject to the approval of the competent competition authorities.
As noted, the mega-tender involved approximately 140 stores, including multi-brand and single-brand stores, with sales valued at around 750 million euros per year, based on the average annual turnover of these stores between 2017 and 2019. Aéroports de Paris (ADP) estimates total revenue of 9.4 billion euros over ten years, starting in January 2023.
“Airports are places to live and our passengers want to be able to relax, have fun, shop and find the best of Paris and France in terms of shops and services once they have gone through check-in. and security checks”, said Aéroports de Paris SA-Groupe ADP Chairman and CEO Augustin de Romanet.
“Extime Duty Free Paris, an expert in travel retail, will bring Groupe ADP’s new hotel brand, Extime, to Paris to offer our passengers a unique and memorable experience.
“Paris airports are the first and last image many travelers have of Paris and France. Under the new and ambitious Extime brand, we look forward to continuing our partnership with the Groupe ADP teams to offer travelers unforgettable shopping experiences and bring them the best of Paris and France, in terms of culture and know-how. “said Lagardere. Chairman and Chief Executive Officer of SA Arnaud Lagardère.
As indicated, the new Extime concept revolves around four value creation levers. This includes boosting traffic through aviation marketing focused on high-contributing destinations such as China. It also aims to drive pre-travel demand “via a successful digital ecosystem comprised of a loyalty program” – brands will include Extime Reward and Extime Pass, as well as a marketplace www.extime.com.
It is planned to deploy the new strategy at Paris airports from 2022/23, then across Groupe ADP, and at the other airports from 2024.
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