DAG RASMUSSEN
Chairman and Chief Executive Officer of Lagardère Travel Retail
What were the key highlights of 2024?
“Despite a challenging geopolitical and macroeconomic environment, 2024 was an exceptional year, driven by the recovery in global air traffic, which surpassed pre-Covid levels at most airports, with the important exception of the Asia-Pacific region.
This positive trend was further strengthened by numerous successes, including the expansion of our Dining business in the Middle East, a host of openings in the United States and South America, and the growth of our Duty Free network in Spain and at airports in Bucharest (Romania) and Cotonou (Benin). In addition, we pressed ahead with the international roll-out of the Relay brand thanks to a strategic partnership with TAV Airports in Zagreb (Croatia) and Almaty (Kazakhstan).
Lastly, we won major Duty Free tenders at Amsterdam-Schiphol (Netherlands), Nice-Côte d’Azur (France) and Techo (Cambodia) airports across all three business segments, as well as at multiple airports in the United States and Australia, particularly in Travel Essentials.”
Which major CSR initiatives were rolled out in 2024?
“2024 saw a continuation of our efforts to reduce carbon emissions, with a particular focus on Scope 3, where 80% of our emissions stem from the products that we sell. This year’s achievements include the launch of our responsible offering programme, a critical step in our CSR approach.
At the same time, we introduced our first anti-waste initiative, FLOW (Fighting to Limit Our Waste), which addresses the environmental, economic and ethical challenges of food waste in Travel Retail.
We also partnered with UN Women France and UN Women Central and West Africa to support an ambitious programme aimed at empowering 2,500 Senegalese women by fostering entrepreneurial independence through sustainable farming practices. This initiative reflects our ongoing commitment to supporting local communities in our host regions, helping to build a more inclusive and resilient future.”
What is the outlook for 2025?
“2025 promises to be a dynamic year, marked by the opening of numerous stores following tender wins in the Netherlands, Albania and Cambodia in 2024, alongside the ramp-up of stores opened during the previous year in France, the United States and Benin.
Additionally, Stars+, our new transformation and performance programme, is set to reach its full potential in 2025 amid ongoing economic and geopolitical uncertainty.
Our commitment to CSR will also remain central, with the expansion of our responsible offering programme, the validation of our carbon emissions reduction targets by the Science Based Targets initiative (SBTi) and the continued strengthening of our position as an employer of choice in Travel Retail.
Lastly, we plan to intensify our efforts in artificial intelligence to boost operating efficiency and enrich the customer experience, making our stores even more appealing to travellers and partners alike.”