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| LS acquires Duty Free Stores Wellington |
  
Posted Date: 06/07/2012
By Inside Retail
LS Travel Retail Asia Pacific, a division of the Lagardère Services group, has bought Duty Free Stores Wellington Limited.
LS will now take the responsibility of operating duty free stores in New Zealand airports at Queenstown, Hamilton, Dunedin and Rotorua and Australian airports at Gold Coast and Adelaide.
The company will also take over the operation of duty free stores in downtown Hamilton and online.
“Added to our existing duty free operations at Noumea Airport, the acquisition of Duty Free Stores Wellington is the ideal platform for growth and an opportunity for us to bring our international standards and approach to duty free retailing to the Asia Pacific region,” said Lagardère Services chairman and CEO Dag Rasmussen.
Rasmussen sees great synergies in the operations of both companies and the acquisition was a great growth opportunity for LS.
“We are confident that in LS Travel Retail we have found the right organisation to take the Duty Free Stores Wellington business to the next level,” said Duty Free Stores Wellington founder Don Archibald.
Lagardère Services CEO for the Pacific, Matt Mercier, said the purchase of Duty Free Stores Wellington gives LS a fantastic foundation to build a strong, innovative duty free business in the Pacific.
LS has appointed Ivo Favotto as GM for duty free operations in New Zealand, Australia and Noumea.
Favotto is an experienced, international executive in the global airport and infrastructure sectors, and has advised many of the world's leading airports, retailers, governments and investors in a career spanning more than 25 years.
GB |
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