Change happens slowly in the Global Travel Retail channel. At this month’s Tax Free World Association exhibition in Cannes, delegates were still discussing the same problems as two years ago – how to make money in a channel squeezed by the landlord/retailer/supplier model. The difference is, however, that two years ago, because of a backdrop of declining sales, there was a hardened sense in Cannes that “something needs to be done”. This year, no such urgency exists. Global Travel Retail – right now – looks in pretty good shape.
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