Afin de réaliser des statistiques de visites et d'améliorer l'expérience utilisateur sur notre site, nous mesurons son audience grâce à une solution utilisant la technologie des cookies.

En naviguant sur ce site, vous acceptez l'utilisation des cookies de mesure d'audience. Pour en savoir plus et paramétrer les cookies

 

 

We use cookie technology to measure our online audience in order to compile statistics on website visits and improve the browsing experience for our website's users. 
By using our website, you consent to the use of cookies for audience measurements. Click here for more information on cookies and how to set your preferences

2021 challenges

DAG RASMUSSEN   DAG RASMUSSEN
Chairman and Chief Executive
Officer of Lagardère Travel Retail
 
 

HOW DID LAGARDÈRE TRAVEL RETAIL FARE IN 2020, IN VIEW OF THE CURRENT HEALTH CRISIS?

The intensity of the impact of the Covid-19 pandemic on the Travel Retail segment was unparalleled, and uncertainty as to the resumption of air passenger traffic and sales is significant.

However, the crisis did give us the opportunity to assess our strategic orientations and the diversification of our business model in terms of segments, geographic coverage and the distribution channels we operate in.

It also gave us the chance to successfully put our culture of empowerment and the autonomy of our local teams to the test. Thanks to this, our teams reacted extremely quickly to the first signs of the crisis and implemented the necessary measures to mitigate the flow of the steep fall in sales through to our earnings, including variabilising all of our rents, adapting costs - especially personnel expenses - optimising store opening hours and swiftly running down inventory.

So the agility and commitment of our teams enabled us to contain our losses and ensure that we are ready for a rapid recovery or indeed an extended downturn, as the case may be.

 

AGAINST THIS BACKDROP, WHAT IS THE OUTLOOK FOR 2021?

A crisis is always an opportunity to change and improve. Our forward-looking preparations for a decrease in Travel Retail sales in the medium term led us to accelerate our transformation strategy, which will enable Lagardère Travel Retail to become both leaner more effective, as well as guaranteeing its staying power and future growth.

This ambitious performance programme was deployed in summer 2020, allowing us to sustainably improve our efficiency and profitability by reducing our cost structure, implementing simpler yet effective working methods and organisations within our business, from in-store operations to our IT systems. We remain fully confident in a rebound once the health crisis is under control. The fundamentals that have historically driven growth in the industry are still in place.

In 2021, given the tight cash context, we will press ahead with the development efforts we have under way, while remaining open to any new opportunities that may arise as well as contributing enthusiastically and with conviction to raising the standard of environmental and social responsibility in the Travel Retail industry.

The group's key figures

Revenue, earnings before interest and tax, employees: access financial information about the group and each of its subsidiaries.

The Group's brands

All companies and brand