The Tourvest Group and Lagardère Travel Retail enter strategic partnership
From left to right: Robert Gumede, Chairman of The Tourvest Group, and Dag Rasmussen, Chairman & CEO of Lagardère Travel Retail. Standing behind them (from left to right) Baptiste Duguit, Executive Vice President of Business Development, Corporate Communications & External Affairs; Luvhengo Neswiswi, Group Chief Executive of The Tourvest Group and Clive Jones, CEO of Tourvest Retail Services
The Tourvest Group and Lagardère Travel Retail have signed a Strategic Memorandum of Understanding (MOU) to collaborate on retail, hospitality, and tourism development initiatives.
The agreement commences 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 US$100 million – while also exploring the broader Africa and Middle East travel retail market, which is worth in excess of US$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 travelers. 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 traveler 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 capitalize on global and local strengths for the benefit of passengers, airport authorities, governments, and communities alike.
From left to right: Deputy President of the Republic of South Africa Paul Mashatile, with Dag Rasmussen, Chairman & CEO of Lagardère Travel Retail and Robert Gumede, Chairman of The Tourvest Group
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 and 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, added, “We are optimistic as we embark on this strategic journey with Lagardère Travel Retail – a partner who shares our vision for innovation, globalization, 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.
