Top Brands on living the LURYX experience
This is a special feature from Global Travel Retail Magazine's 2023 Summit of the Americas issue, on page 18.
Yeison Betancur, Retail Director Latin America and Caribbean, Top Brands International
The storefront of LURYX Duty Free at Paraguay’s Silvio Pettirossi International Airport
Yeison Betancur, Retail Director Latin America and Caribbean at Top Brands International, says 2022 was a successful year for the retailer. It celebrated the opening of two LURYX Duty Free stores, saw continued growth in the liquors, perfumes, cosmetics and accessories categories and tells Global Travel Retail Magazine (GTRM) 2023 is shaping up to be another profitable year for its businesses.
Latin America performed relatively well through the pandemic due to limited travel restrictions and dynamic passengers flows within, to and from the region. The International Air Traffic Association reported LATAM coming out on top at 2022 year-end in terms of international air passenger capacity and load factor compared to all regions. With this, Top Brands reported good results in 2022, with sales comparable to 2019.
Betancur says the retailer has seen an increase in shoppers at its stores in the first few months of 2023. Top Brands expects this momentum to continue through the year with predictions of “significant increase” in travel to Paraguay and Chile.
“We hope that the innovation we offer in our multi-category stores, and spaces with avant-garde, modern architecture, glass roofs, wide corridors and a high level of comfort for the traveler will allow us to have significant growth,” Betancur says.
The confectionery section at LURYX Duty Free in Silvio Pettirossi International Airport
The liquor section of LURYX Duty Free at Silvio Pettirossi International Airport in Paraguay
New LURYX locations
Top Brands unveiled two stores in 2022: a 1,000-square-meter store at Paraguay’s Silvio Pettirossi International Airport on May 16, and a 500-square-meter shop at Punta Arenas Free Trade Zone in Zona Austral Patagonia on September 12.
Put on hold due to the pandemic, the Silvio Pettirossi International Airport Departures store carries all duty free categories. The stores are characterized by the variety of brands, such as prestige and lifestyle, allowing the retailer to have a broad portfolio for all types of passengers.
The Free Zone, a tourist attraction with a mall, the world’s southernmost skating rink, game room, cinema, coffee shops and food court, also carries all categories and acts as an anchor for sales. This has allowed for significant increase in traffic which helps to achieve good sales conversion, the retailer says.
The two stores feature modern architecture that aims to expertly combine the excitement of shopping with that of traveling, “to offer an exceptional experience for all customers and travelers who visit,” says Betancur.
Along with Top Brands other 100+ stores under the LURYX banner, the new stores offer exclusive and luxury brands, with expert advisors in each category to educate shoppers. The stores also have “shop in shop” Pandora and MAC boutiques.
“We intend to convert the frequent traveler and captivate first-time visitors with personalized attention that makes the experience unique,” Betancur explains.
The expansion emphasizes Top Brands’ mission to maintain LURYX Duty Free’s reputation as synonymous with luxury.
“The new stores establish our points of sale and continued expansion and growth,” Betancur tells GTRM. “At both locations, our stores are doing very well, customers have been incredibly accepting, and we're very pleased with the reception we've had in both markets.”
Top Brands invited influencers, special guests and senior executives to “live the LURYX experience” at the opening ceremonies. Invitees were able to experience the liquors, perfumes, cosmetics and accessories the way shoppers do, with expert category advisors and personalized assistance in the luxury environment.
The store front of LURYX Duty Free at Punta Arenas Free Trade Zone location
Category performance and future projects
Best-selling categories for the retailer remain liquors, perfume and cosmetics, but jewlery, accessories and textile categories are experiencing significant growth.
Betancur says he believes this is due the personalized and relaxing experience shoppers receive in store.
When asked about future projects, Betancur shares that the retailer is focused on its regional expansion. New projects are in the pipeline, including stores that are due to materialize in the Caribbean in both multi-category and mono-brand concept stores. He says new stores are also expected farther south in the future with more details to come.
