Helios & Partners CEO calls TR "ideal test bed", Humphrey Ho on brand transformation and the consumer journey
Humphrey Ho, CEO, Helios & Partners
Led by CEO Humphrey Ho, Helios & Partners is built on the principle of Consumer Ecosystem Investing (CEI), a strategy that according to the company, integrates equity investment, consumer marketing and brand transformation.
Described as a permanent equity partner to brands, startups, media and marketers, the firm works to “guide” key players across the complete consumer ecosystem. Its vision is to achieve growth and sustainable success through the seamless alignment between consumers, brands and equity.
In this Q&A, we hear from Ho about its connection to travel retail and how artificial intelligence (AI) is reshaping the consumer journey.
Helios & Partners is built on the principle of Consumer Ecosystem Investing, a strategy that integrates equity investment, consumer marketing and brand transformation
Global Travel Retail Magazine (GTR Magazine): With more than two decades of experience working globally in equity management, advertising, and communications, what makes the duty free and travel retail channel attractive to investors?
Humphrey Ho, Chief Executive Officer, Helios & Partners (Ho): Travel retail is a high-margin sector that serves two distinct consumer categories with a cost-insensitive base: domestic consumers traveling abroad and international consumers arriving at their destination.
Both groups have defined budgets and spending power, particularly in key categories such as fashion, beauty, cosmetics, luxury goods, alcohol, spirits, confectionery and more. This creates significant opportunities for high dividends and stable returns (thanks to concession revenues) over time, especially as global travel continues to grow. In fact, the cost of travel, adjusted for price parity, has declined by over 10% in the past decade alone, according to our internal research.
GTR Magazine: Tell me about your motto, “Advance Beyond Ambition.” How has it influenced your vision of success in business?
Ho: The travel retail channel and travel industry perfectly exemplify the concept of "Beyond." We've established offices on three continents to support our clients. Our business models, data engineering and technological innovations have all had to integrate insights and expertise from these three regions.
So, when we say "Advance," it’s not just about progress — it’s about pushing beyond expectations. "Advance Beyond Ambition" was created to resonate with everyone within our sphere of influence, signaling that we are here to achieve more than what was possible yesterday, no matter the field — whether it’s media, creative, PR or technology.
GTR Magazine: Describe the principle of CEI. How does Helios & Partners personalize it to reflect the workings of the travel retail channel?
Ho: At Helios & Partners, we have invested in businesses, brands and retail operations within the travel retail sector. Our deep expertise in travel retail reveals that a brand successful in one part of the world can often have untapped potential in another region or continent. However, entering a new market domestically, especially in large markets like China or the U.S., can be financially challenging.
Travel retail offers an ideal test bed, allowing brands to experiment with a new country or consumer segment before committing to larger-scale domestic operations. Conversely, many domestic brands use travel retail as a cost-effective way to reach new markets without the need for intensive capital investment to establish a presence on a new continent.
GTR Magazine: What do you believe is the most significant part of the consumer journey?
Ho: The key to long-term brand success lies in the construction, or perception, of a product, brand, or service ecosystem throughout the consumer journey. "Keeping them in the family" encompasses several critical factors including the following: return on ad spend, lifetime value, click-thru rates and average order values.
Convincing brands to invest in "the next transaction" is one of the most challenging aspects of this journey. However, we take pride in the fact that many brands choose to work with us not just for immediate campaigns or short-term objectives, but for building a lasting, memorable ecosystem that keeps consumers coming back every time they travel.
GTR Magazine: How do you see AI and the metaverse reshaping the consumer journey in the near future?
Ho: The metaverse, as it was originally envisioned, is no longer a focal point. We are moving toward an augmented reality (AR)-assisted world — similar to our AI-driven experiences today — where our glasses, phones, screens and other touchpoints will have much larger "workspaces," thanks to the power of AR.
Think of products like the Apple Vision Pro or virtual try-ons using camera filters. AI will play a crucial background role, especially in duty free and travel retail. We expect its application to include recommendation engines, real-time tracking and suggestions, and making smarter, assisted decisions about consumer journeys in a cross-border, cross-cultural selling environment.
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