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One of the two priority divisions of the Lagardère group, Lagardère Travel Retail is a global leader in the Travel Retail industry, harnessing its pioneering culture to make travel more enjoyable with bespoke offers and experiences. Investing our world-class global expertise and local knowledge to bring tailor-made offers and experiences to life that benefit landlords, brands and travelers alike. We operate 5,120 stores across Travel Essentials, Duty Free & Fashion and Foodservice in airports, railway stations and other concessions in 42 countries. In 2023, we generated €6.6bn in sales (managed 100%).

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Division : Lagardère Travel Retail

Singaporestraat 2 1175 RA Lijnden

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Lagardère Travel Retail sees strong Q1 revenue performance

By Jill Sayles in Global , Latest News , Lead Stories , Retail News April 25, 2024 0

Lagardère Travel Retail once again achieved double-digit revenue growth, which was the main driver of the lift in group revenue

Lagardère Travel Retail first-quarter (Q1) 2024 revenue totalled €1,242m, up 18.7% as reported and up 13.6% like for like.

The difference between reported and like-for-like data is attributable to a €53m positive scope effect, mainly due to the acquisitions of Tastes on the Fly (€37m), Marché International (€9m) and Costa Coffee in Poland (€7m), as well as a €6m negative currency effect mainly related to the depreciation of the US dollar and Chinese yuan.

With global air traffic having returned to normal levels, Lagardère Travel Retail once again achieved double-digit revenue growth.

In France , business for the division grew by 16.2%. The EMEA region (excluding France) saw a strong 22.5% increase in revenue, driven by all the countries in the region on the back of the return of air traffic to pre-Covid levels, and led by the Middle East (up 109.9%), Italy (up 23.8%) and Romania (up 29.0%). Revenue in the Americas rose by 7.8%, thanks to dynamic growth in the United States (up 6.4%) and Canada (up 14.5%). The AsiaPacific region recorded a decline of 15.5%, which was particularly marked in North Asia (down 20.3%) due to the economic slowdown in China and consequent contraction in Chinese consumer spending.

Lagardère reports group revenue totalled €1,883m for the first three months of 2024, up 12.4% as reported and up 8.9% like for like.

The difference between reported and like-for-like data is attributable to a €60 million positive scope effect, mainly due to the acquisition by Lagardère Travel Retail of Tastes on the Fly (United States), Marché International (Germany) and Costa Coffee (Poland), as well as a €5m negative currency effect mainly related to the depreciation of the US dollar and Chinese yuan.

Lagardère Publishing continued a robust level of activity (up 0.8%) due to growth in the United States and United Kingdom. Form Other Activities , there were stable activity levels (up 0.1%) driven by strong attendance in entertainment venues.

Lagardère SA Chairman and Chief Executive Officer, Arnaud Lagardère said: “In the first quarter of 2024, the Lagardère group recorded growth of 8.9%, illustrating the solid performance of our divisions at the start of the year.

“With global air traffic having returned to pre-pandemic levels, Lagardère Travel Retail delivered an increase in revenue in the majority of its operating regions, confirming its growth model.

“At the same time and in a softer market, Lagardère Publishing is maintaining record levels of activity, confirming the strength of its strategic model, thanks in particular to the success of bestsellers in the United Kingdom and the United States.

“Lastly, Other Activities continue to be driven by the momentum of our entertainment venues and a revival in audience figures for Europe.”

Tagged with: Lagardère group Lagardère Travel Retail Marché International

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ATLANTA – Paradies Lagardère remains committed to investing in the communities of the airports it serves. With its corporate headquarters based in Atlanta, the company supports many causes in its backyard. Almost a decade ago, the company decided to focus on nonprofits that support children and their families, the military and tackle food insecurity. In doing so, they work with programs such as Make-A-Wish Foundation , local food banks, elementary schools and more.

Once per quarter, employees at all levels – from hourly associates to executive leadership – collaborate to volunteer at Atlanta Community Food Bank. Each volunteer day provides thousands of meals for families in need. In addition to showing up to volunteer, Paradies Lagardère sponsors many causes including the City of Atlanta’s Pride Reception and the Mayor’s Youth Scholarship Fund.

In June 2023, Paradies Lagardère adopted William M. Boyd Elementary School in Atlanta, supporting the students by donating school supplies, cheering them on as they walked into their first day of school, providing lunches for teachers and visiting classrooms to read to students. Members of the executive team are planning another visit in March.

Jeff Flowers , senior vice president of operations at Paradies Lagardère, has been on the Make-A-Wish Foundation board for eight years, serving this year as vice chair. The organization’s Georgia Chapter grants about 480 wishes each year including taking a child to the Super Bowl, Disney World or on a trip to Hawaii. “To see a true wish reveal is pretty magical,” Flowers says.

As a Platinum partner of the Make-A-Wish Foundation, Paradies Lagardère sponsors one full wish each year and contributes funds to help 15 other wishes in Georgia. Over the course of its sponsorship, Paradies Lagardère has helped sponsor more than 75 wishes. Because travel dining and retail is the company’s specialty, it donates items that children can use while they are traveling and also will host the Make-A-Wish family at the airport by greeting the family at the gate, hosting them in a private room with snacks and games to help ease the stress of travel, and assisting them through the airport to start their adventure. Paradies Lagardère team members across the US and Canada also participate in the annual Walk for Wishes to raise money to grant wishes for children coping with serious medical conditions. Previously the company has had over 700 employees participate.

At the corporate level, Paradies Lagardère has developed the PEPS program to guide its social responsibility efforts. Standing for Planet, Ethics, People and Social, PEPS paves the way for a sustainable future through carbon footprint reduction, ethical business practices, an equitable and inclusive work environment and a commitment to community engagement. PEPS is a global program created by the company’s parent organization, Lagardère Travel Retail, which is based in Paris.

Each team also chooses its own designated charity and gets involved with other nonprofits on the local level. At the Southwest Florida International Airport in Fort Myers, Paradies Lagardère team members joined forces with the airport fire department to collect toys for Toys for Tots during the holidays. The Paradies Lagardère team at George Bush Intercontinental Airport supports the Housing, Entrepreneurship and Readiness Training (HEART) Program, a Houston-based nonprofit that creates structured employment opportunities for adults with intellectual and developmental disabilities.

“Because we have a footprint in airports across North America, we can make a difference in the communities we serve through our partnerships,” says Gregg Paradies , CEO of Paradies Lagardère. “Our dedication to service goes beyond our employees and customers, and it is our responsibility to support our communities where we are able.”

Theodore Koumelis

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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