Lagardère Travel Retail on market potential and selective bidding
Jean-Baptiste Morin, Regional COO, Americas, Lagardère Travel Retail
Defining consumer spending in Q1 2025 as a “mixed picture,” shoppers, brands and retailers continue to face economic pressures and geopolitical tensions. According to Lagardère Travel Retail, across the Americas, it was largely shaped by ongoing global economic uncertainty and shifting international trade dynamics. Showing resilience, consumer spending in Latin America remained relatively strong despite global pressures throughout the first quarter. North America showed a different story, experiencing a higher level of uncertainty.
Jean-Baptiste Morin, Regional COO, Americas, Lagardère Travel Retail, explains, “While passenger traffic [in North America] remains strong and dynamic, inflation continues to be a key concern, and the combination of geopolitical tensions and cautious consumer sentiment has led to more restrained spending patterns. Consumers are becoming more selective, prioritizing essential goods and services while delaying discretionary purchases.”
The company is pleased to see Latin America now reaching pre-pandemic performance levels. As Morin notes, the macroeconomic environment has been favorable overall, which supports both consumer confidence and travel demand. “While the region is still in recovery, particularly after the impact of the pandemic, we are clearly on the right path. Our main focuses have been Santiago and Lima, two key markets where we see great potential and where our teams are fully mobilized to accelerate growth,” he shares.
Speaking about its performance last year, Morin adds, Lagardère Travel Retail achieved solid growth across its integrated business model and three business lines: duty free, fashion and food & beverage (F&B). The retailer also won a significant number of RFPs (request for proposals) in 2024, which positions it well for future expansion.
Looking ahead, Morin says, it is essential to be more selective when bidding on projects, particularly in the current market climate. “In North America, for instance, we are facing a significant rise in costs, especially with staff-related expenses, which makes the profitability of several projects increasingly challenging. As a result, we have already become more selective in our approach and have decided not to position ourselves on certain tenders,” he continues. “In fact, if a project does not pencil, we choose not to engage.”
This said, Lagardère Travel Retail remains very interested in the dynamic region, which shows great promise for the future.
With retail and F&B offerings becoming increasingly sophisticated in Latin America, Lagardère Travel Retail approached the 2025 Lima Airport opening as a unique opportunity to reinforce its presence in the region and set a new benchmark
Lima Airport: sense of place and sustainability commitment
With retail and F&B offerings becoming increasingly sophisticated in Latin America, Lagardère Travel Retail approached the 2025 Lima Airport opening as a unique opportunity to reinforce its presence in the region and set a new benchmark. Morin says, “We’ve developed a unique sense of place, celebrating Peru’s extraordinary culinary heritage by partnering with top chefs such as Mitsuharu Tsumura (Maido) and Jaime Pesaque (Mayta). These collaborations bring authentic Peruvian flavors to the airport, using local suppliers to promote sustainable sourcing and support the local economy.”
With a great selection of local products, from premium liqueurs to chocolate, the retail offering at the airport highlights Peruvian excellence, giving travelers an authentic taste of the country. Additionally, the retailer has integrated the latest technologies including self-service and self-checkout solutions. Morin says sustainability is at the heart of the project, with a zero-plastic policy at all F&B operations and a commitment to social impact through its partnership with Forge and Lima Airport Partners to hire 100 young professionals from the local community. “This project perfectly reflects our ambition to deliver meaningful, sustainable and locally inspired travel experiences,” he states.
In 2025, Lagardère Travel Retail has several other new openings and projects planned across Latin America in the process of development. More details to come.
A benchmark in the region
Describing ASUTIL 2025: Nexus as an important moment for our industry, Morin believes that bringing the annual conference to Lima at the time of the Lima Airport terminal opening is the perfect opportunity to showcase not only the dynamism of the region, but also the excellence of Lagardère Travel Retail’s operators at this key airport.
“The new terminal in Lima is a perfect demonstration of our operational excellence. It highlights the extraordinary work that has been done by our teams both locally and globally to deliver an outstanding travel retail experience. It also reflects the power of collaboration between our teams, our partners, and all the stakeholders who have contributed to making this project a success.
“Hosting ASUTIL 2025: Nexus in this context allows us to share this success story with the wider industry and to position Lima as a benchmark in the region. It’s a good way to demonstrate our commitment to raising standards and delivering exceptional experiences for travelers,” he concludes.
