The Tourvest Group and Lagardère Travel Retail enter strategic partnership

The Tourvest Group, Africa’s leading integrated tourism company, and Lagardère Travel Retail, a global leader in travel retail based in France, are proud to announce the signing of a Strategic Memorandum of Understanding (MOU) to collaborate on retail, hospitality, and tourism development initiatives—commencing in South Africa with a view to pursuing travel retail opportunities across the African continent.

The partnership will focus initially on emerging opportunities within the South African travel retail market—currently valued at over $100 million—while also exploring the broader Africa and Middle East travel retail market, which is worth in excess of $3.5 billion.

This partnership brings together two powerhouse organizations, each with deep domain expertise, complementary capabilities, and a shared commitment to creating world-class experiences for travellers. By combining Tourvest’s strong African operational presence, local market intelligence, and hospitality leadership with Lagardère Travel Retail’s global best practices, innovative retail concepts, and international reach, the partnership aims to set new standards for travel retail in South Africa and beyond.

A Shared Vision for Growth in Africa

The collaboration will focus on:

• Expanding travel retail, duty free, and dining offerings in major airports and tourism hubs.
• Elevating traveller experiences through locally inspired, globally benchmarked services and products.
• Promoting inclusive economic growth through job creation, skills transfer, and enterprise development.

With Tourvest operating across the full tourism value chain—including travel management, accommodation, inflight services, and destination experiences—and Lagardère Travel Retail’s global network of 5,000 stores in more than 50 countries, this partnership is uniquely positioned to capitalise on global and local strengths for the benefit of passengers, airport authorities, governments, and communities alike.

Empowering Africa’s Future

Both companies are deeply committed to sustainable development and investing in African talent and infrastructure.  In achieving its strategic objectives, this partnership is expected to:

• Create significant employment opportunities across multiple African countries.
• Support local supply chains, artisans, and SMEs.
• Align with each country’s economic transformation and tourism development goals.

Dag Rasmussen, Chairman & CEO of Lagardère Travel Retail, commented: “We are delighted to join forces with The Tourvest Group, Africa’s leading integrated tourism enterprise, whose recognized expertise across the entire tourism value chain in the region lays a strong foundation for shared growth. This collaboration is fully aligned with our ambition to grow in the South African market and more broadly across the region — a strategic priority for us and an area full of promise. It also reflects our DNA: forging strong partnerships with locally rooted players who understand and anticipate local expectations. Together, we look forward to combining our strengths to make this collaboration a lasting success.”.

 Robert Gumede, Chairman of The Tourvest Group, “We are optimistic as we embark on this strategic journey with Lagardère Travel Retail—a partner who shares our vision for innovation, globalisation, and sustainable growth. While this partnership begins in South Africa, it reflects our mutual ambition to pursue opportunities across the African continent. Together, we aim to set new benchmarks in travel retail through bold innovation, operational excellence, and meaningful local impact.”

As both Tourvest and Lagardère Travel Retail continue to scale operations on the continent, this partnership sets the foundation for a transformational, Pan-African platform that leverages innovation, cultural authenticity, and strategic investment to enhance Africa’s role in the global travel economy.

About Lagardère Travel Retail
One of the two priority divisions of Lagardère group, Lagardère Travel Retail is a leading global Travel Retailer, with the longest standing expertise of serving the needs of travelers and partners across Travel Essentials, Duty Free & Fashion and Dining. Lagardère Travel Retail operates over 4,970 stores in airports, railway stations and other concessions in 51 countries, and has generated €7.6 bn in sales (100%) in 2024.  ​
We harness our pioneering culture to make travel more enjoyable with bespoke offers and experiences. We invest our world-class global expertise and local knowledge to design value-creating partnerships and experiences for our stakeholders: landlords, brands, travelers, employees and communities.  ​ We actively champion the more sustainable future of Travel Retail through our comprehensive CSR strategy, covering all aspects of where we, as a business, have an impact and can make a difference.  
www.lagardere-tr.com  ●  @LagardereTR

About Tourvest Group
The Tourvest Group, a subsidiary of the Guma Group of Companies, is Africa’s leading integrated tourism enterprise, headquartered in South Africa. With a comprehensive footprint across the global travel value chain, Tourvest delivers exceptional services spanning travel management, inbound tourism, hospitality, tourism retail, inflight catering, adventure activities, and foreign exchange.
Founded in 1997 through the consolidation of several strategic tourism businesses, Tourvest has grown into a multinational powerhouse, employing over 8,000 people worldwide and generating a turnover exceeding R20 billion in the financial year ending 31 August 2024.
After listing on the Johannesburg Securities Exchange in 1997, Tourvest was acquired in 2008 by the Guma Group (majority shareholder), along with with the Industrial Development Corporation (IDC) and Old Mutual, reinforcing its position as a proudly African yet globally competitive organization.

Integrated Divisions Across the Tourism Ecosystem
Tourvest’s strength lies in its diversified portfolio, which delivers end-to-end travel and tourism solutions:

– Tourvest Travel Retail operates a wide range of destination and airport retail stores, specialty jewellery boutiques, local cuisine restaurants, and manages inflight duty-free and catering services for leading global airlines including British Airways (with exclusive global rights), Virgin Atlantic, and Kenya Airways, amongst others.
– Tourvest Destination Management is a globally-respected inbound tour operator serving source markets including the United Kingdom, Germany, France, Spain, Scandinavia, USA, and China, offering bespoke experiences across Africa’s premier tourism destinations. This division is a key driver of long-haul travel into the continent.
– Tourvest Travel Services offers corporate and leisure travel management through its proprietary TravelIt platform, which supports over 1.5 million users globally, providing cost-effective, policy-compliant, and data-driven travel solutions.
– Accommodation & Lodging is delivered through a prestigious collection of brands: aha Hotels & Lodges, Wild Horizons, and Lemala, which operate world-class safari lodges, tented camps, and boutique hotels across Southern and East Africa.
– Adventure Activities form a core experiential offering, including game drives, hot air balloon safaris, helicopter tours, canopy walks, bush dining, and other adrenaline-inducing experiences that showcase Africa’s unmatched natural beauty.
– Financial Services include a well-established network of foreign exchange bureaus, ensuring convenient and secure currency services for international travellers.

Rooted in Africa, Connected to the World
Tourvest’s unique blend of African heritage, global standards, and diversified service lines ensures it continues to play a central role in elevating the continent’s tourism offering—whether through curated travel experiences, hospitality, retail, or corporate travel solutions.
With an eye toward innovation, inclusion, and sustainable development, Tourvest is committed to shaping the future of African tourism, delivering value for all stakeholders—from travellers and local communities to international partners and government entities.