Luxury brands are stepping up the battle for travelling shoppers with more outlets at airports and on cruise ships, tapping into one of the fastest growing sections of the market that looks set to keep booming thanks to soaring numbers of Asian tourists.
Revenues from travel retail, which also includes sales on airplanes, rose 9.4 percent in 2012 to 55.8 billion euros ($76.6 billion), according to a market study by Generation Research.
It should reach 60 billion euros this year and nearly double in size by 2020, the study forecast.
“This channel is becoming very important,” Bruno Pavlovsky, chairman of Chanel’s fashion business, said. “Customers are spending time in airports where the environment has become increasingly sophisticated.”
The French luxury brand, the world’s second-biggest behind Louis Vuitton by sales, has boutiques in four Asian airports and one at London’s Heathrow, and next year will open a boutique in Paris Roissy Charles de Gaulle airport and another in Dubai.
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