Here’s more on the travel-retail buzz, as heard at the Tax Free show:
This story first appeared in the November 7, 2003 issue of WWD. Subscribe Today.
“Asians — especially Chinese — are the new travelers,” said Renato Semerari, president and managing director at Guerlain. “We will be attentive to the potential of these consumers and their needs.”
Eric Lauzat, general manager of L’Oréal’s prestige and collections travel-retail division worldwide, added that while the breakdown these days of travel-retail buyers is 50 percent European, 30 percent Asian and 20 percent American, in 10 years’ time, Asians are expected to make up 40 percent of the mix. And estimates show that the number of Chinese traveling will ratchet to 100 million, versus the 15 million last year.
“Travel retail has not seen its best days yet,” continued Lauzat.