Lagardère Travel Retail opens eight new luxury outlets in China
Lagardère Travel Retail has opened eight Luxury Beauty & Fashion stores in China’s Shanghai Hongqiao and Shenzhen Bao’an airports.
In Shanghai Hongqiao Airport, Terminal T2, Lagardère Travel Retail has opened six stores: Chanel Beauty and Accessories; Parfums Christian Diorl Givenchy; Shiseido; Gucci Watches & Jewelry; and Sandro.
In Shenzhen Bao’an, Terminal T3, Lagardère Travel Retail has opened two stores with brand partners new to its portfolio in China: a 150sqm Cartier store; and a 134sqm Burberry Fashion store.
It notes that domestic traffic has recovered quickly in China and believes that economic policies designed to stimulate domestic consumption are also paying off, with Chinese shoppers eager to resume travel and shopping, with a particular appetite for luxury goods.
Eudes Fabre, CEO for North Asia at Lagardère Travel Retail, says: “China is an incredibly resilient market, it has been breathtaking to observe how fast domestic traffic has returned to pre-crisis levels, and how eager Chinese shoppers have been to come back to our stores.
“The growth of the country’s middle class and its appetite for luxury brands has supported a sharp rebound in our business here.
“I am pleased that we are able to build on our leading market position and in-depth understanding of the local travel retail market to partner with some of the world’s leading luxury brands to support their development in what remains an uncertain environment.”