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THURSDAY 15 FEBRUARY 2007

FAST, FACTUAL, FREE

COLM MCLOUGHLIN: THE DUBAIDUTY FREE MANAGING DIRECTORTHIS WEEKANNOUNCED ANEW DAILYSALES RECORD OFUS$4.9 MILLION,POSTED ON THERETAILER’S 22NDANNIVERSARY.WHAT A PERFORMANCE – SOME+57% AHEAD OF THE PREVIOUS24-HOUR RECORD.

Dr Brendan O’Regan: Thegreat pioneer of our industrywas honoured lastweek by the Irishstate with theopening of anexhibition cele-brating his lifeand achievements.Now approaching90, he remains the humblest,finest and wisest of men. AsIrish Prime Minister BertieAhern put it: “Dr O’Regan hasmade a unique and wonderfulcontribution to Irish life overfive decades.”

Lim Peck Hoon: Surely one ofthe most erudite voices in theairport commercial word, theCAAS Director(Commercial)announced lastweek that theChangi authoritywould issue over60 invitations forproposals in thefirst half of 2007 alone. If theother 59 are anything like theliquor & tobacco tender we arein for plenty of excitement.

QUOTE OF THE WEEK

PERSONALITIES OF THE WEEKWELCOME to The Moodie Report.

This week’s edition comes to you from Toronto, where we stopped over for a whistle-stoptour of Pearson International Airport’s deeply impressive new Pier F at Terminal One.This splendid new facility has many highlights – a pioneering post-security duty freestore for US-bound passengers (effectively a US Arrivals shop); one of the most distinc-tive artwork centrepieces of any world airport; and an outstanding ‘international’ dutyfree store that ranks as one of North America’s best. There’s also a strong Sense ofPlace, plus innovative concept stores from HDS Retail and a nice blend of internationaland local in food & beverage from HMS Host and Eurest.

When I last visited Pearson a couple of years ago all this was in blueprint form. Theprogress has been astounding and there’s a real feeling among Greater Toronto AirportsAuthority (GTAA) management and its concessionaires that something very special hasbeen created. Certainly in any industry assessment of the top airport retail openings of2007, Nuance’s international store will take some beating.

It not only looks good – from huge department store-like shop windows to some gor-geous lighting effects – but the retailer also makes a concerted effort to interact with thecustomer. Whether it’s a shiatsu massage courtesy of Baileys Irish Cream – positioned inthe heart of the fragrances & cosmetics department – a makeover from Clinique or achance to engage in a Glow After Dark promotion by JLo, there’s something going onwherever you move.

It’s complemented by direct, simple consumer communication. “We seal, you save,” runsone of the better tag lines we’ve seen since the whole security fiasco started last August.GTAA is working hand-in-hand with its concessionaires to communicate key securitymessages long before the traveller enters the stores. “It’s all about the right partner,”says Greater Toronto Airports Authority General Manager Concessions Dan Driedzic.“That’s ultimately the key to success – you have to pick the partner you would like tospend ten to 15 years with.”

Far across the globe in Singapore, the Civil Aviation Authority of Singapore (CAAS) isweighing up exactly that choice. The relationship in this case may be shorter – three,probably five years – but it will be no less intense, nor the need for mutual retailer/land-lord understanding in any way diminished. CAAS has six suitors for its blue-ribbonliquor & tobacco concession; bids closed on 9 February and were revealed with impres-sive speed and transparency just five days later. It has announced, unusually, its plan toreceive further presentations from the top three bidders – on paper that looks like HotelLotte, DFS Group and Sky Connection – on 1 March, before making a final decision.

Given the minimum monthly guarantees (MMGs) in play, it seems realistically like a two-horse race between South Korea’s Lotte and incumbent DFS. Lotte as the ambitiouschallenger did what it had to do – top the MMG bidding – but the margin is still closeenough that some informed sources believe the status quo might prevail.

DFS Group’s proven Changi and liquor & tobacco expertise or Lotte’s higher minimumsand outstanding South Korean track record? Which is, to use Driedzic’s terminology,the right partner? CAAS executives won’t be losing too much sleep over that choice – orthe tender process. Six top-class bidders, three blockbuster offers, including the incum-bent’s, and an almost certain driving up of the offers for the ensuing perfumes & cos-metics contract. Not a bad result if you’re an airport authority.

Michel Perol: The Aelia CEOannounced arecord turnoverthis week, settingthe scene nicelyfor a year in whichthe French travelretailer plans totruly stamp itsmark on the international scene.“I'm confident there are morerecords to come,” he said.

JAPAN. The country’s major travelagencies saw strong sales in December2006, posting a collective + 3.7% rise insales year-on-year, according to TravelJournal International (TJI) Online. Theincrease marked the eighth consecutivemonth of gains since May 2006, saidTJI, citing the Ministry of Land, Infra-structure and Transport.

Outbound travel in December was ledby strong demand for travel to Chinesedestinations such as China, Taiwan andHong Kong as well as other Asiancountries and Europe, said the ministry.

SWITZERLAND. Zürich Airporthas announced the addition of severalnew airlines and destinations, furtherspurring the airport’s ambitious com-mercial revenues operation.

US Airways will boost the airport’slong-haul programme with a daily serv-ice between Zürich and Philadelphia,and BMI Regional is introducing adaily service between Zürich and theScottish capital, Edinburgh. Air Balticis to extend its range of services to andfrom Zürich, and will be flying threetimes a week to Vilnius as well as Riga.

And, with effect from May, Air Berlin will be adding six new destinations – Rostock, Thessaloniki, Rhodes, Crete,Kos and Ibiza.

Passenger growth in 2006 was led by SWISS (+13.3%), followed by AirBerlin, Lufthansa, Edelweiss, Air Canada and Spanair. The leadingdestinations were London, Vienna, Paris, Berlin and Frankfurt.

Thursday 15 February 2007The Moodie Report


THE MOODIE REPORT DATA ROOM – TRAVEL & TOURISM NEWS

Selected traffic numbers reported in the past two weeks

Country Airline/airport Jan ’07 vs Jan ’06 (%)

Note: ‘total pax’ may include domestic trafficSource: ©The Moodie Report continued on page 4

Denmark Copenhagen Kastrup Airport +6.2 (international)France/N’lands Air France-KLM +2.2 (total pax)Germany Düsseldorf International Airport +10.7 (total pax)Germany Frankfurt Airport +3.0 (total pax)Germany Lufthansa Group +3.1 (total pax)Ireland Aer Lingus +2.4 (total sched. pax)Latvia airBaltic +26.9 (total pax)Mexico Guadalajara Airport -9.4 (international)Mexico Los Cabos Airport -9.7 (international)Mexico Puerto Vallarta Airport -4.1 (international)Panama Copa Airlines group +23.4 (RPM)Peru Lima Jorge Chávez Airport +18.0 (total pax)Portugal Lisbon Airport +9.6 (total pax)Spain Spanair +10.0 (total pax)Sweden SAS Scandinavian Airlines +5.6 (total pax)Turkey Antalya Airport T1 +277.2 (total pax)UK Aberdeen Airport +9.5 (total pax)UK British Airways -4.3 (total pax)UK Edinburgh Airport +2.5 (total pax)UK Glasgow Airport +1.6 (total pax)UK London Gatwick Airport +1.5 (total pax)UK London Heathrow Airport -1.9 (total pax)UK London Stansted Airport +4.3 (total pax)UK Pittsburgh International Airport +33.3 (international)UK Southampton Airport +12.1 (total pax)

THE MOODIE REPORT

DATA ROOM – TRAFFIC NEWS

DENMARK. International passengers handled by CopenhagenAirport during January increased by 76,852, or +6.2% year-on-year.With the number of international charter passengers slightly down (-0.2%), the overall rise is explained by a +6.8% increase in scheduledtravellers. Total traffic at the airport in the first month of 2007 climbed104,078 (+7.6%) year on year. The number of locally departing travel-lers rose by +10.5%, while transfer/transit figures crept up by +0.3%.Domestic traffic shot up by +21.9%.

IRELAND. More than 1.4 million passengers travelled throughDublin Airport in January, an increase of +11% year-on-year, accordingto figures released by Dublin Airport Authority. Passenger traffic to/from continental Europe rose by +25% with over 680,000 passengers

FRANCE. French travel retailer Aelia posted record turnover in 2006, buoyed by contract gains in Marseille and ParisCharles de Gaulle Terminal Three. Total sales across the group’s operations reached €473 million, up +10% year-on-year.

Aelia’s business in regional French airports achieved particularly strong results, notably at Nice Côte d’Azur and Nantes.The company’s business in the UK continuedto grow despite the impact of tightened secu-rity measures since August, with both LondonLuton and Belfast International airports per-forming well.

Highlights of the year included the openingof the new low-cost terminal at MarseilleProvence Airport and the takeover of theretail contract at Paris Charles de Gaulle T3.

Aelia said that 2007 “promises to be a land-

travelling in the month. UK traffic remained relatively unchanged compared to January 2006 with 615,000 passengers.

Passenger volumes to/from North America rose +3% to more than 78,000. Other international passenger traffic to theMiddle East (Dubai and Bahrain), northern Africa (Morocco, Agadir) and South Africa rose by +65%, with more than20,000 passengers travelling to those destinations in January.

JAPAN. The number of passengers travelling on international flights from Chubu International Airport (Centrair)in Nagoya in 2006 climbed +15.5% year-on-year to 5,370,229, according to Travel Journal International (TJI) Online.

SPAIN. National carrier Iberia has reported a +2% year-on-year increase in January passenger numbers, the figurerising from 1.97 million 12 months ago to over 2 million. Medium-haul traffic was up +4%, from 619,000 to 644,000.Of this, the European market accounted for 590,000 (+2.6%) while strengthened connections with Africa and the Mid-dle East resulted in a climb of +22.9% to 53,000. The surge came mainly in Egypt and Israel, the airline said. Therewas also a jump of +15.4% in long-haul travellers, from 298,000 to 344,000, with “excellent performance” reported onSouth Atlantic flights.



World airports by total passengers January–October 2006

Rank Airport Country Passengers Change

1 Atlanta Hartsfield-Jackson US 70,852,656 –2.12 Chicago O’Hare US 64,360,651 +0.13 London Heathrow UK 57,191,959 –0.24 Tokyo Haneda Japan 54,271,696 +3.05 Los Angeles International US 51,150,769 –1.16 Dallas/Fort Worth US 50,407,209 +1.97 Paris Charles de Gaulle France 48,149,100 +5.58 Frankfurt International Germany 44,970,927 +0.89 Beijing China 40,606,952 19.510 Denver US 40,308,619 10.511 Amsterdam Schiphol Netherlands 39,443,528 +4.212 Las Vegas US 38,511,167 +3.713 Madrid Barajas Spain 38,185,947 +7.314 Hong Kong International China,SAR 36,452,000 +9.115 Houston Bush Intercontinental US 35,543,026 +7.916 New York JFK US 35,433,495 +3.017 Bangkok Thailand 34,892,481 +9.518 Phoenix Sky Harbor US 34,619,754 +0.719 Detroit US 30,506,941 –0.920 Minneapolis/St Paul US 29,949,268 –5.021 Newark US 29,729,839 +8.422 London Gatwick UK 29,646,627 +3.623 Orlando International US 28,968,974 +1.924 Singapore Changi Singapore 28,590,315 +7.825 San Francisco International US 28,144,952 +0.326 Miami US 27,040,143 +5.527 Philadelphia US 26,780,679 +0.328 Tokyo Narita Japan 26,570,330 +1.029 Toronto Canada 26,284,953 +3.230 Munich Germany 26,007,652 +7.0

Source: ACI; The Moodie Report

THE MOODIE REPORT DATA ROOM – RETAIL & COMMERCIAL SALES RESULTS



mark year” as Aéroports de Paris (AdP)prepares to open the new S3 terminal atCharles de Gaulle airport. The jointventure between Aelia and AdP, Sociétéde Distribution Aéroportuaire, will runover 1,000sq m of retail space at thenew terminal.

Aelia President and CEO Michel Pérolsaid: “This has been an extremelyencouraging year for Aelia. Thanks tothe hard work put in by our sales staff,buyers and managers, we’ve been ableto overcome the tough trading climateimposed on us since August and weenjoyed an especially strong end to2006. This year promises furthergrowth thanks to the opening of S3 and further developments within andbeyond France. I’m confident there aremore records to come.”

FRANCE/INTERNATIONAL.LVMH Moët Hennessy Louis Vuitton,the world’s leading luxury products

group, recorded profit from recurring operations of €3,172 million in 2006, an increase of +16% compared to 2005.Revenue rose to €15.3 billion, showing organic growth of +12% to which all business groups and every region con-tributed. The group’s operating margin improved to reach 21% in 2006. The Selective Retailing division, whichincludes the world’s leading travel retailer DFS Group, recorded organic revenue growth of +9% (to €3,891 million)

and a rise of +15% in profit (to €400 million)from recurring operations.

“DFS benefited from its growing Asian clien-tele in a market that has been affected by theweakness of the Yen,” said LVMH. “As part of

Selected traffic numbers reported in the past two weeks (continued)

Country Airline/airport Dec ’06 vs Dec ’05 (%)

Note: ‘total pax’ may include domestic trafficSource: ©The Moodie Report

Canada Vancouver International Airport +7.1 (international)Czech Republic CSA Czech Airlines +8.0 (total pax)Germany Cologne Bonn Airport +4.4 (total pax)Germany Munich Airport +17.1 (international)Ireland Dublin Airport +15.0 (international)Japan JAL Group -5.2 (international)Macao Macao International Airport +40.8 (total pax)New Zealand Air New Zealand +6.4 (total pax)New Zealand Auckland International Airport +3.7 (international)Spain Madrid Barajas Airport +15.5 (international)Taiwan Taipei Chiang Kai-shek Int. Airport +8.3 (total pax)US Atlanta Hartsfield-Jackson Int. Airp’t +17.5 (international)US Denver International Airport +16.2 (international)US Houston Bush Intercont. Airport +3.1 (international)US New York JFK International Airport +11.1 (international)US Newark Liberty International Airport +8.3 (international)US Orlando Sanford Int. Airport +13.2 (international)US Washington Dulles Int. Airport +9.9 (international)

LVMH revenue by business group, 2006 vs 2005

Business group 2006 2005 Change on year(€ millions) Published Organic*

Wines & Spirits 2,994 2,644 +13% +14%Fashion & Leather Goods 5,222 4,812 +9% +11%Perfumes & Cosmetics 2,519 2,285 +10% +11%Watches & Jewelry 737 585 +26% +28%Selective Retailing 3,891 3,648 +7% +9%Other activities and eliminations –57 –64 — —Total 15,306 13,910 +10% +12%

*with comparable structure and exchange ratesSource: LVMH

LVMH profit from recurring operations by business group, 2006 vs 2005

Business group 2006 2005 Change(€ millions) on year

Wines & Spirits 962 869 +11%Fashion & Leather Goods 1,633 1,467 +11%Perfumes & Cosmetics 222 173 +28%Watches & Jewelry 80 21 +281%Selective Retailing 400 347 +15%Other activities and eliminations –125 –134 —Total 3,172 2,743 +16%

Source: LVMH



its strategy to move further up-market, DFS continuedthe renovation of its Galleria at Guam. Elsewhere, anagreement has been signed for the construction of aGalleria in Macao, which is expected to open in 2008.”

INTERNATIONAL. The Nuance Group 50%shareholder Stefanel Group this week announced fullyear results for 2006, with consolidated sales rising+9.4% to €298 million.

Gross profit rose from €160.5 million to €170.5 million in the year compared to 2005. Net profit was €1.1 million.

The results from investments, which Stefanel said “substantially reflects The Nuance Group”, was negative for €5.5million; but an improvement on the €8.0 million loss in 2005. While Stefanel did not break out Nuance’s results in itsannouncement, it said: “The second half of the year was conditioned by the impact of the stringent airport securitymeasures introduced in August. These effectively blocked sales of liquids or gels, causing substantial drops in sales incertain countries, precisely in those categories that have the highest margins.

“On the concession front,” added Stefanel, Nuance is “concentrating on winning new concessions in strategic areassuch as India, a market the group penetrated in 2006, as well as relaunching its performance in the Australia/NewZealand region.” The Copenhagen concession, which to date has heavily depressed group performance (with €5.8million as Stefanel’s share of the loss in 2006), will expire at the end of February.

Stefanel Group Chairman Giuseppe Stefanel commented: “On the Nuance front we are still involved in a process ofrationalisation and turnaround: the airport anti-terrorism rules have in part slowed down our turnaround programme,but it is still going forwards and I am convinced it will bear fruit very soon.”

NETHERLANDS. Schiphol Group has posted a strong 2006 performance for its Consumers business, despite thesharply negative impact of the recent aviation security crisis. The Dutch airport company’s Consumers business divisionis responsible for the granting of concessions for airport shopping and café, bar and restaurant facilities, operation ofcar parks and the marketing of advertising opportunities at Amsterdam Airport Schiphol. The division also has retailmanagement contracts outside the Netherlands, including Sweden.

In 2006 the business area accounted for 22% of Schiphol Group’s revenues and 43% of the operating result. Revenuesgenerated by Consumers were up +11.2% in 2006 to €231 million, with concession income making the biggest contri-bution, followed by parking fees. The strongest revenue growth wasseen in advertising. Thanks to several new contracts and major cam-paigns by financial institutions, advertising income increased by +29%to €13.7 million.

The group said: “The increase in concession income was attributableto growth in passenger numbers, a higher average spend per passengerand an increase in the average level of concession fees.

“The liquids & gels ban in response to the foiled terrorist attacks inLondon on 10 August 2006 had the effect of depressing overall conces-sion income by €1.5 million. However, effective marketing campaignsand the introduction of the gate delivery service minimised the impact,and concession revenue for the whole of 2006 was in fact up by +7.7%.”

Concession revenues from the See Buy Fly shops rose fractionally from€3.68 to €3.75 per departing passenger on international flights. Thiswas partly attributable to the opening of new shops, such as Rolex,Swatch and Montblanc. Car parking revenues per passenger rose by+2.2% to €2.78.

As reported, at the end of last year agreement was reached with long-time concessionaire KLM for Schiphol Group to take over the opera-tion of the liquor and tobacco retail activities in the See Buy Fly area,

LVMH full-year results 2006 vs 2005

Indicator 2006 2005 Change(€ millions) on year

Revenue 15,306 13,910 +10%Profit from recurring operations 3,172 2,743 +16%Group share of profit 1,879 1,440 +30%

Source: LVMH



CHINA. Duty Free Americas, the ambitious US duty free retailer owned by the Falic brothers, is to open its firstAsian operation. The retailer has signed a contract to operate a total of 16,359sq ft of retail space at The VenetianMacao Resort-Hotel complex, which is scheduled to open around July of this year.

The 3,000-suite Resort-Hotel aims to redefine the concept of a luxury resort hotel. The owners claim it will combinethe elegance and beauty of Venice with the energy and excitement of Macao, “offering hospitality and facilities un-equalled anywhere in Asia”. Confirming the development to The Moodie Report, Duty Free Americas General CounselDavid Taney described it as an “exciting” moment for the company.

Duty Free Americas is the second major travel retail player to strike a deal to operate at The Venetian Macao in recentweeks. Last month Nuance-Watson (HK) announced the launch of a pioneering new multi-category department storeat the complex – the first time Nuance-Watson has expanded its travel retail portfolio beyond the airport environment.It will also open this summer.

Until now Duty Free Americas’ retail business has been focused in the Americas, principally the US, where it is thecountry’s leading airport duty free retailer. This development, its first foray into Asia, will surprise many of its rivals;but it underlines the company’s determination to be become a morediversified international operation. Simon, Jerome and Leon Falicacquired Duty Free Americas (then World Duty Free Americas) fromBAA in October 2001. Today it consists of several operating divisions,including three main retail arms – airports, northern border (Canada)and southern border (Mexico).

INDONESIA. Malaysia’s ambitious Naruli Group has extended itsduty free business abroad by concluding a management agreement withJohn Halim’s PT Fortune Star. In a letter to the media and trade Halimsaid: “Very soon we will venture into downtown duty free and also Baliisland, as well as Batang/Bintam island.”

The deal is welcome news for Halim, a long-standing and popularfigure in Asian duty free. He said Naruli presently runs eight stores inMalaysia, trading as Zon Duty Free Shopping Paradise.

A similar deal with Chim Esteban’s Regent Asia Philippines fell apartlate last year. Earlier, in August 2006, Halim announced that his com-pany had formed an alliance with Esteban’s company, ceding full opera-tional control in the process.

PT Fortune Star has stores at Jakarta’s Sukarno-Hatta InternationalAirport and elsewhere. In recent years the retailer has been hit hard –

previously operated by KLM, with effect from 3 January 2007. In connection with this agreement a new company,Schiphol Airport Retail BV, was established for the independent operation of airport shops. From 2007 these retailoperations activities are part of the Consumers business area.

“Taking over these activities is in line with the strategy of expanding non-aviation activities,” the group said. For fullgroup results see www.TheMoodieReport.com

US. BAA Pittsburgh has reported a +7% increase in per-passenger spending, from US$12.33 in 2005 to US$13.21 in2006. BAA Pittsburgh is developer and manager of the retail and concessions programme for the Airmall at PittsburghInternational Airport. In 1992, before the Airmall was introduced at the airport, average spend was US$2.40.

“Our mantra at BAA is to provide the travelling public with the right blend of products, dining options and servicesthat create a travelling experience that cannot be found anywhere else,” said BAA USA Vice President & RegionalDirector Mark Knight. “History shows that we have the recipe that travellers are looking for when shopping and eatingat the airport.”

THE MOODIE REPORT LANDLORD & CONCESSIONAIRE NEWS



along with other Indonesian retailers – by a combination of natural disasters and terrorism, which have affected tourismbadly. Now, with new investment, the fortunes of Fortune Star seem to be on the rise again.

US/SPAIN. Aldeasa will soon make its debut in the US duty free market at Atlanta Hartsfield-Jackson Interna-tional Airport, where it topped the bids in a tender for the business last year. The business is expected to generate salesof US$260 million between 2007 and 2014, said Aldeasa. Duty free sales were US$15.5 million in 2005. Aldeasa bid forthe business in association with co-parent Autogrill’s North American business unit HMSHost (mainly active in US andCanadian airports) and with local operator Shellis Management Services.

Aldeasa bid US$9.5 million in minimum guarantees in year one, beating competition from Dufry (US$8 million), DutyFree Americas (US$6.8 million), The Nuance Group (US$6.5 million) and Alpha Airports Group (US$3.1 million).The latest award had been subject to a legal challenge from earlier winner DFASS, an award that was controversiallyoverruled, leading to a protracted dispute.

Aldeasa Chairman Javier Gómez-Navarro said: “The start-up of operations in both Atlanta and Vancouver – two of themost important airports on the continent – at about the same time highlights the relevance of these heavily transitedmarkets for Aldeasa and the company’s capacity to immediately implement its international strategy.”

Aldeasa will operate 640sq m of space – including an existing 370sq m, which will be renovated – in Terminal E. Thecompany said it would include “some of the new services and concepts” implemented in its acclaimed operation atMadrid Barajas Airport Terminal Four. “The store will offer an array of high-end fragrances, cosmetics, wines andspirits in addition to international clothing and luxury accessory brands,” said the retailer.

THE MOODIE REPORT TENDER & CONTRACT NEWS

INDIA. Interest in the duty free tender at Mumbai Chatrapati Shivaji International Airport (CSIA) is understood tobe intense, reflecting the location’s key strategic and commercial worth to the winning bidder. Five groups are contest-ing the tender: DFS Group, The Nuance Group/Shoppers’ Stop, Dufry/InterGlobe, Alpha Future (Alpha AirportsGroup and Pantaloon Retail) and Spanish retailer Aldeasa in partnership with the India Tourism Development Corpo-ration (ITDC).

According to one bidder (who wished to remain anonymous) final offers are due by 23 February for the contract, whichwill run for three years with the possibility of a fourth (depending on the progress of airport development work). Theconcession commences on 1 June and, importantly, offers exclusivity across all international products (Indian merchan-dise is the only exception). The single terminal offers significant space –one 1,355sq m Departures store, a 780sq m Arrivals store and a 145sq mstorage department.

Sales are understood to have reached INR444 million (US$10.1 mil-lion) in 2006, with branded wines and spirits accounting for two-thirdsof that total. Tobacco was the other main category with sales of INR63million (US$1.49 million). Fragrances and cosmetics generated sales ofINR7 million (US$159,000). But these figures offer little in the way ofguidelines to bidders as the level of retailing and space has been wellshort of what is expected in the future.

Some bidders contacted by The Moodie Report believe there is hugeupside potential in the business at one of the country’s most importantgateways, despite the short-term contract. Mumbai handles an estimated37% of India’s total air passenger traffic (domestic and international),with international passenger numbers currently showing solid double-digit growth and domestic traffic climbing faster still. “If you want tobe an international player in the Indian duty free market, you want tobe in Mumbai or Delhi because of their scale,” said one experiencedretailer. “And they also offer a great platform from which to expandinto other smaller airports.”

International flight numbers are booming. Japanese carrier ANA is



introducing a Japan–Mumbai route on 1 September (using a Boeing 737-700ER configured with 36 business classseats, the first time a Japanese airline has introduced an aircraft with a purely business class product). Indian carriersJet Airways and Kingfisher Airlines are also expanding their international networks at pace – extraordinarily the latterannounced last year that it had placed firm orders for five Airbus A380s, five Airbus A-330s and five Airbus A350s foruse on long-range international and regional services. And bidders say the airport company has expressed its determi-nation to attract more international traffic.

Mumbai is also set to benefit from the boom in luxury goods in India. Women’s Wear Daily recently quoted luxury goodsassociation Altagamma as saying the consumption of international luxury products and brands in India is expected totriple in the next five years. “But there is a chronic shortage of upscale retail space – so if India’s airports can get it rightthey could prove a hugely attractive shop window for the world’s top brands,” noted one retailer.

Mumbai International Airport Pte has been granted the exclusive right to develop, operate and manage CSIA for 30years. Sources say the airport company impresses as being highly commercially orientated in its thinking. We under-stand that the Arrivals store is a complete walk-through and the Departures store is close to fulfilling the same criteria.The company has even moved an escalator to improve access to the retail area, and airport management emphasisedqualitative criteria at the pre-bid meeting. In that regard it has included a high minimum capital expenditure require-ment by Indian airport standards.

Importantly, all international traffic is to be centralised and concentrated in one area during refurbishment, whichshould drive footfall and penetration. Amid all the flurry of excitement over Indian duty free opportunities during thepast 12 months, Mumbai is clearly one of the jewels in the crown – a look at the bidding line-up is ready confirmationof that status.

SINGAPORE. “A battle that could go all the way down to the wire.” That’s how one leading travel retailerdescribed the contest for the lucrative Singapore Changi Airport liquor & tobacco tender after bids were revealed earlierthis week. As we reported, Hotel Lotte of South Korea and incumbent DFS Venture Singapore (DFS Group) toppedthe bids, ahead of rival offers from Sky Connection of Hong Kong, Nuance-Watson (Singapore), Aelia and Aldeasa. Ona straight minimum monthly guarantee (MMG) basis, Lotte headed DFS in years one and two of the contract (andoverall by S$2,496,000/US$1.65 million or +1.5% over the full term) – see below for the full bid details – with DFScoming in marginally higher in year three.

DFS also added a ‘bonus incentive’ to the Civil Aviation Authority of Singapore (CAAS) if it can grow sales above cer-tain stated thresholds. In year one, for example, CAAS would receive a further S$500,000 (annually) if the retailer cantop S$320 million in total sales – admittedly a tough call in the current security-ridden climate and with so many termi-nal changes occurring. Sky Connection was the next highest bidder. DFS Group’s sales reached S$252 million in 2006.

Given CAAS’s traditional propensity for accepting the highest guarantee, the big question being asked within the indus-try is whether Lotte has done enough to clinch what would be a massive victory for the deeply ambitious South Koreancompany. The answer to that question will be clearer after the three leading bidders present to CAAS on 1 March. Toask for stand-alone presentations is an unusual call by the authority, and underlines both the stature of the prize onoffer and the fact that the race is not over yet.

Opinions are sharply divided as to who will triumph. Given the intense sensitivity surrounding the tender process – andthe fact that the perfumes and cosmetics bid will follow in coming days – all parties were understandably cautious aboutany attributable comments.

The central issue is whether Lotte’s being ahead on the basic MMG over the three-year term will be enough in CAAS’seyes to change from a tried-and-tested liquor & tobacco concessionaire to one unproven in the category and untestedabroad. But, equally, Lotte is no novice retailer. It runs the most successful travel retail fragrances & cosmetics store inthe world at Incheon International Airport, and has some liquor experience at Seoul Gimpo (formerly Kimpo) Airport.And its downtown duty free stores in Seoul are among the world’s best.

The South Korean giant is determined to expand internationally and was a credible contender in last year’s big SydneyAirport duty free tender. Though it clearly lacked international and local expertise on that occasion, it immediatelyaddressed that weakness by hiring experienced international retailers Adrian Murray, Steve Franklin and ex-Diageoexecutive David Marr as consultants for the liquor & tobacco bid (and the Changi fragrances and cosmetics tender tofollow). Diageo was the lead supplier in the acclaimed DFS make-over of its liquor stores in 2003, and former DFSsenior executive Franklin knows Changi intimately from his many years there.



Set against all that is DFS Group’s experience and success – qualities it will be emphasising time and again at the crucialpresentations on 1 March. Changi will experience much disruption over the next two years with the opening of the newT3 in early 2008 (drawing traffic from T2) and the extensive refurbishment of T1. Will the authority opt for a changeof retailer in such circumstances, especially given the relative closeness of the two top bids?

Singapore Changi liquor & tobacco bid levels Aldeasa: An additional rental of either: (a) (i) 40% of the total monthly gross sales for liquor (excluding wines/cham-pagnes); (ii) 20% of the total monthly gross sales for wines/champagnes; and (iii) 25% of the total monthly gross salesfor cigarettes/tobacco; OR (b) a minimum monthly guarantee of S$5,186,361; whichever is the higher of (a) or (b) Aelia: An additional rental of either: (a) (i) 40% of the total monthly gross sales for liquor (excluding wines/cham-pagnes); (ii) 20% of the total monthly gross sales for wines/champagnes; and (iii) 25% of the total monthly gross salesfor cigarettes/tobacco; OR (b) a minimum monthly guarantee of S$8,100,000; whichever is the higher of (a) or (b). DFS Venture Singapore: An additional rental of either: (a) (i) 40% of the total monthly gross sales for liquor (exclud-ing wines/champagnes); (ii) 20% of the total monthly gross sales for wines/champagnes; and (iii) 25% of the totalmonthly gross sales for cigarettes/tobacco; OR (b) a minimum monthly guarantee of: (i) S$10,166,667 for Year 1; (ii)S$10,333,333 for Year 2; and (iii) S$10,500,000 for Year 3; whichever is the higher of (a) or (b). PLUS bonus incentivefor increased sales: (i) An additional rental of S$500,000 if annual sales exceeds S$320 million for Year 1; (ii) An addi-tional rental of S$750,000 if annual sales exceeds S$355 million for Year 2; and (iii) An additional rental of S$1 millionif annual sales exceeds S$385 million for Year 3. Hotel Lotte Co: An additional rental of either: (a) (i) 40% of the total monthly gross sales for liquor (excluding wines/champagnes); (ii) 20% of the total monthly gross sales for wines/champagnes; and (iii) 25% of the total monthly grosssales for cigarettes/tobacco; OR (b) a minimum monthly guarantee of S$10,486,000; whichever is the higher of (a) or (b). Nuance-Watson (Singapore): An additional rental of either: (a) (i) 40% of the total monthly gross sales (TMGS) forliquor (excluding wines/champagnes); (ii) 20% of the TMGS for wines/champagnes; and (iii)25% of the TMGS forcigarettes/tobacco; OR (b) a minimum monthly guarantee (MMG) of: (i) S$8 million for Year 1; (ii) S$8.5 million forYear 2 and Year 3; whichever is the higher of (a) or (b). PLUS An annual incentive rent of: if sum of the MMG for theyear [as defined in (b)] exceeds sum of the percentage rents for the year [as defined in (a)] the following incentive rent ispayable: 45% of the total annual gross sales (TAGS) exceeding S$312 million in Year 1; 45% of the TAGS exceedingS$366 million in Year 2; 45% of the TAGS exceeding S$391 million in Year 3. If the sum of the percentage rents forthe year [as defined in (a)] exceeds the sum of the MMG for the year [as defined in (b)] the following incentive rent ispayable: 30% of the TAGS exceeding S$312 million in Year 1; 30% of the TAGS exceeding S$366 million in Year 2;30% of the TAGS exceeding S$391 million in Year 3. Sky Connection: An additional rental of either: (a) (i) 40% of the total monthly gross sales for liquor (excluding wines/champagnes); (ii) 20% of the total monthly gross sales for wines/champagnes; and (iii) 25% of the total monthly grosssales for cigarettes/tobacco; OR (b) a minimum monthly guarantee of S$9,301,000; whichever is the higher of (a) or (b).

SINGAPORE. In related news CAAS has underlined the scope and ambition of the commercial offer at the newTerminal Three. For the first half of 2007 more than 60 invitations for proposals will be issued for the various commer-cial concessions at Changi, including liquor & tobacco (which closed on 9 February and covered all terminals), per-fumes & cosmetics (to be issued shortly and again covering all terminals), computers & electronics, fashionwear, watch-es & jewellery, chocolates & delicatessen, books & magazines, gifts & souvenirs and speciality shops.

CAAS Director (Commercial) Lim Peck Hoon said: “CAAS is on the lookout for international and local brands seekingto launch their maiden operations in Singapore or expand their presence in Asia travel retail. To offer a brand newretail and dining experience, CAAS will be requiring prospective operators to propose innovative elements to comple-ment their business services in their plans.” CAAS said that T3 offers an opportunity for retailers to tap into a “guaran-teed captive international market” to grow and expand their businesses.

The 380,000sq m terminal will have about 25,000sq m of floor space dedicated to more than 70 retail and over 30 food& beverage outlets. Besides the traditional airside duty free offerings, T3 will feature more extensive retail and food &beverage zones in the landside areas.

To complement the terminal’s see-through layout concept, the Departure/Transit Mall is designed to provide a compactsingle shopping street layout that enhances the visibility of the retail outlets, CAAS said. “The extensive use of glass in theterminal will also allow passengers a vantage view of both the airside and landside shopping and dining zones,” it noted.

T3’s retail and food & beverage contracts will be awarded progressively through 2007. CAAS concluded: “TerminalThree, with more than 230 retail outlets and more than 110 food & beverage outlets, will reinforce Changi’s positionas the Airport Shopping City that offers a quantum leap in a variety of shops and F&B outlets.”



AUSTRALIA. Proposed new aviation security regulations being drafted by the Department of Transport andRegional Services are set to have a major impact on sales of liquor to passengers bound for Australia – and accentuateconsumer confusion further. The Australian measures will take effect from 31 March. They follow the government’sannouncement late last year that it would introduce a round of aviation security measures, broadly in harmony withthose introduced in the European Union on 6 November 2006.

As in Europe, it is the question of transit or transfer passengers – either into Australia or from Australia (e.g. to NewZealand) – that is shaping up as the big negative arising from the legislation. But the Australian regulations, still to befinalised and subject to ‘industry consultation’, could be even tougher than the European ones in terms of restrictionson liquid items of over 100ml.

The Moodie Report understands reliably that passengers on any international air service arriving in Australia will haveto be screened to a standard that includes liquids, aerosols and gels (LAGs) being measured at the last port of call [thelatest miserable acronym to enter industry parlance since last August –Ed]. Airlines arriving into Australia will have theresponsibility of ensuring this screening is undertaken.

The regulations as currently drafted will mean that from date of implementation any Australian-bound traveller willonly be able to purchase duty free liquids in excess of 100ml at that last port of call – and even then only where gatedelivery is in place. So for a London to Australia flight that puts down in Singapore, Changi Airport becomes the lastport of call.

For flights to Australia, all LAGs, with the exception of duty free, will be restricted to 100ml containers containedwithin a one litre LAGs bag. But the crunch point comes in the wording relating to airside duty free purchases, wherethe proposed legislation specifically notes: “When the items are duty free, they may be transported [to Australia –Ed] ifthey are delivered to the gate in a sealed bag.” The only exception would be from states that have full bi-lateral agree-ments with Australian and equivalent airport security status.

Thus a passenger bound for Australia from a European airport who transits, say, in Asia, will not be able to take anyliquid of over 100ml (for example a litre of Johnnie Walker Black) purchased from that European airport onboard theinbound leg to Australia – essentially a mirror image of the transit situation in Europe. And according to reliablesources, a liquor purchase at, say, Changi Airport, would only be permitted to be carried into Australia if gate delivered.

One airport retailer said he thought other than cases where a full bi-lateral agreement was in place, all duty free liquidsin excess of 100ml might be banned from being brought into Australia. “It’s not looking good,” said another. “There’sgoing to be utter confusion.”

No duty free liquids in excess of 100ml will be allowed through (international) transit screening points at Australian

THE MOODIE REPORT AVIATION SECURITY UPDATE

SINGAPORE. In yet more Changi contract news, King Power International Singapore has been granted a two-year extension to operate the T2 Chocolate, Confectionery and Delicatessen concession. The company is a subsidiaryof King Power Group (Hong Kong). The initial term was for three years from 1 May 2004, with an option to renewfor a further two. “We are very pleased to have successfully negotiated this extension,” said King Power Duty Free andTravel Retail Managing Director Sunil Tuli. “Changi is an important airport for us and these particular concessions havebeen very successful, and have won us many awards. We look forward to giving the travelling public even better servicein the future.”

Meanwhile three bidders are competing for a brand-name sports concession in T3’s Departure/Transit Lounge North.The top bidder was Global Brands Group (Football), which offered 15% of the total monthly gross sales; or a mini-mum monthly guarantee of S$37,500 per month, whichever is higher. The contract is for three years from the open-ing of the new T3, scheduled for early 2008.

Global Brands Group (www.globalbrandsgroup.com) advises trademark and intellectual property owners on licensingand brand extension strategies. Its clients include world football body FIFA as well as Warner Bros, IPC Media andPlanet Hollywood. In November 2005 it appointed former Nuance Group Asia Pacific CEO John Moore to create anew Australian operation. Moore is also playing a lead role in the group’s push into travel retail.



airports. So anyone flying, say, Hong Kong–Sydney–New Zealand would not get any such items past the transit screen-ing point in Sydney. Australian retailers are urgently seeking clarification of the regulations but as they stand it lookslike further bad news for travelling consumers – and the industry that serves them.

NEW ZEALAND. An impressively wide-ranging group of travel industry stakeholders, led by Auckland Interna-tional Airport, together with other airports and government departments, today announced a major public awarenesscampaign called ‘Flysmart’ to help offset uncertainty caused by changing aviation security regulations. From 31 MarchNew Zealand will introduce new rules pertaining to the onboard carriage of liquids, aerosols and gels (LAGs), in linewith European Union rules implemented on 6 November, 2006.

Auckland International Airport, along with the Ministry of Transport, New Zealand Aviation Security Service, CivilAviation Authority, airlines, travel agents and other airports are all part of the campaign. Travellers are being encour-aged to visit the Flysmart website (www.flysmart.govt.nz) so they “pack smart – travel safe” from 31 March. In an excel-lent ‘Frequently asked questions’ section, the website addresses the issue of airside duty free purchases post 31 March:

Can I still buy liquids (including Duty Free) at the airport when I travel? Yes. You will still be able to buy liquids, aerosols and gels (including duty free) at New Zealand airports, once you havepassed through security. There are no restrictions on buying or collecting duty free goods on arrival. If you want to buyliquids (including duty free) and take them with you, the rules may vary depending on where you are travelling.

Flying to Australia The government is working with Australia to ensure that current arrangements will not change and you will continueto be able to buy liquids (including duty free) in New Zealand and travel to Australia with them. The government andindustry is working with Australia to resolve this issue and will update this website as progress is made. For more infor-mation see www.dotars.gov.au

Flying to the United Kingdom/Europe You will continue to be able to buy liquids (including duty free) in New Zealand and take them with you on a flight tothe United Kingdom/Europe (unless you are transiting through Australia or the US). If you have a connecting flight inthe United Kingdom/Europe, then at this stage any liquids that do not fit in 100ml containers in a one litre bag will betaken from you.

For full story see www.TheMoodieReport.com

US. The International Association of Airport Duty Free Stores (IAADFS) has highlighted the issue of the airportliquids ban in the run-up to the IAADFS Duty Free Show of the Americas, which runs from 22 to 26 April at theGreater Fort Lauderdale/Broward County Convention Center in Fort Lauderdale, Florida.

In a press release IAADFS Executive Director Michael Payne said he was continuing to collaborate with industryexperts from the Transportation Safety Administration, Airports Council International – North America, InternationalAir Transport Association and counterparts in Europe to address the effects that the liquids ban is having on airportretailing worldwide.

“IAADFS is working closely with concessionaires, government officials and aviation authorities in their collective effortto develop tamper-resistant bags that meet TSA and EU approval and other actions to help remedy the increasingproblem of passengers in transit having select duty free purchases seized,” Payne said. “This initiative has been a pri-mary focus of the IAADFS since August when the liquid ban first surfaced and will continue to be the major emphasisin the next term,” he added.

THE MOODIE REPORT GENERAL NEWS

INTERNATIONAL. Top German fashion house Hugo Boss and leading travel retail publisher The MoodieReport have entered into a unique sponsorship agreement, one in which all revenues are being donated to a richlydeserving charity – The Smile Train.

The Smile Train (www.smiletrain.org) is dedicated to helping the millions of children in the world who suffer fromcleft lips and palates. The programme provides free surgery for children, free training for doctors and research to find acure. 100% of donations go towards programmes and 0% towards overheads. Since 1999 The Smile Train has provided



FRANCE/INTERNATIONAL. Alain Maingreaud has been appointed Exhibitions and Business Develop-ment Director at Tax Free World Association (TFWA). He takes responsibility for all technical and logistical aspects ofthe TFWA exhibitions worldwide and also for the future development of the events.

He reports to TFWA CEO Olivier Charriaud, who said: “Alain becomes the single voice in TFWA negotiations withcontractors supplying services to our events in Asia and France. He will wield TFWA’s negotiating power to ensure thateffective services of the highest quality are delivered for our exhibitions at the best price available.”

Jean-Marc Caubet has been named Marketing and Conference Director with responsibility for all TFWA marketing,

PEOPLE NEWS, JOBS, EVENTS & NOTICESTHE MOODIE REPORT

free cleft surgery to over 200,000 children and trained tens of thousands of medical professionals. It now hasprogrammes and partners in 61 countries. A simple surgical procedure can cure 100% of all clefts, but it is beyondreach for families in many countries who earn less than US$1 a day.

Under the terms of what the two companies call a fun sponsorship agreement with a serious purpose, The MoodieReport Publisher Martin Moodie and Deputy Publisher Dermot Davitt will be dressed by Hugo Boss during the forth-coming ACI Business & Trinity Forum that The Moodie Report is organising with ACI World – with the former wear-ing Boss at all major industry events during the year. But instead of The Moodie Report receiving the sponsorshiprevenue, it will be donated to The Smile Train – and matched equally by The Moodie Report. The total of £15,000sponsorship (US$29,400) will pay for surgery for 100 children – “turning despair into hope and tears into smiles” asThe Smile Train puts it.

The Moodie Report Publisher Martin Moodie said: “We’re delighted to enter into this unique sponsorship agreement withsuch a dynamic international company as Hugo Boss, in what will be a richly rewarding partnership. Most children withclefts in developing countries live in desperate poverty and are often hidden in shame and isolation. By working with TheSmile Train and Hugo Boss we will bring joy to 100 children and their parents. We also want to help publicise the workof The Smile Train to a much wider audience – and to encourage our always generous industry to donate even more.”

Hugo Boss Head of Travel Retail Nadine Heubel said: “We are very excited about this very special sponsorship agree-ment. We are all priviliged to work in an industry in which we have many reasons to smile every day. Knowing thatwith our initative we can give back the smile to children is especially rewarding for us. Hopefully we can inspire manyof our industry colleagues to follow our cause. Besides this, we are obviously honoured to have such a great brandambassador as Martin and to showcase the brand through him and Dermot at ‘Trinity’.” For full story and pictures seewww.TheMoodieReport.com

IRELAND. The Irish state honoured Dr Brendan O’Regan – the founding father of duty free – last week with theopening of an exhibition celebrating his life and achievements. Dr O’Regan, who is approaching his 90th birthday,opened the world’s first duty free shop at Shannon Airport in 1947. Ireland’s Prime Minister Bertie Ahern officiallyopened the exhibition along with Dr O’Regan at the Clare Museum in Ennis, with hundreds of former colleagues andDr O’Regan’s family in attendance, and The Moodie Report.

Ahern said: “Dr O’Regan is a famous, famous person and one that any of us in public life would be proud to be associatedwith. This is a fitting exhibition to mark a distinguished career. Dr O’Regan has made a unique and wonderful contribu-tion to Irish life over five decades and this is a true reminder of his legacy. Among the key contributions was the open-ing of the world’s first duty free shop at Shannon Airport. I was in Dubai Airport recently where I met a proud fellowcountryman Colm McLoughin, who is heading the world’s third largest duty free business. All of that began here.”

Dr O’Regan thanked the Prime Minister and said: “I see many faces here of people who have helped me over the years.I hope this exhibition will be of interest to both young and old. I wish the management of Shannon Airport and Shan-non Development Company every success in meeting the challenges of the years ahead.”

The exhibition, titled ‘Empowering the People: The Career and Achievements of Dr Brendan O’Regan’, runs duringspring 2007 at the Clare Museum in Ennis. It chronicles the life of Dr O’Regan, his role in establishing the world’s firstduty free shop and in developing the Shannon region, plus his contribution to Ireland’s peace process. Excerpts fromDr O’Regan’s archives will feature in a special print issue of The Moodie Report next month – appropriately called‘The World Rovers’ – which details the influential role of the Irish in duty free over the past 60 years.



communication, registration and sponsorship activities, for the content of the social programme at events and also forthe development of worldwide conferences and TFWA’s research programme.

INTERNATIONAL. The Moodie Report is searching for a Director of Research & Analysis to head an impor-tant new company division spearheaded by an important research and analysis project to be announced soon. Interestedparties should contact Publisher Martin Moodie in confidence at [email protected]

INTERNATIONAL. Dubai Duty Free has become the latest major player to sponsor next month’s ACI Business& Trinity Forum, and is helping attract delegates to Dubai by offering a unique incentive.

In the lead-up to the Forum – a joint venture between The Moodie Report and ACI World – Dubai Duty Free is offer-ing several tickets in its hugely successful ‘Finest Surprise’ draw to paid-up delegates. This week four tickets – usuallycosting US$139 – are being offered with the winners (drawn randomly from the list of paid registrants) receiving aticket in the main draw. Each offers a fantastic opportunity to win a luxury car (see www.DubaiDutyFree.com). Thedraw will be made from those fully registered by 19 February. Results will be announced in The Moodie Report nextweek. Additionally Dubai Duty Free is kindly offering four more tickets in a subsequent draw – and will offer a further12 opportunities at the big event itself.

In related ‘Trinity’ news, we’re pleased to announce the winners of the free 45-minute helicopter rides over Dubai,offered in an earlier delegates’ promotion. They are Henrik Busch of Copenhagen Airports; Aed Adwan of MGI Lux-ury Group and Michael Barrett of Tax Free World Association.

The ACI Business & Trinity Forum, which includes the presentation of the prestigious consumer-judged Airport Ser-vice Quality (formerly AETRA) Awards, has attracted an extraordinarily diverse and international mix of delegates,including an unprecedented number of airport representatives to a commercial revenues conference. “We’ve raced pastthe attendance levels of the first two Trinity Forums, which proves Dubai was the right place at the right time,” saidThe Moodie Report Publisher Martin Moodie. “But the main focus is on value not volume, quality not quotas, andwe’re determined that this event will live up to its industry agenda-setting heritage.” For full programme details, andForum and hotel registrations, please click on the Trinity icon at www.TheMoodieReport.com or www.aci.aero

US. Bacardi Global Travel Retail Division has announced the appointment of Peter Rombaut as Travel Retail AreaManager, Americas Travel Retail Division and Zachary Sulkes as Travel Retail Manager, Americas Travel Retail Divi-sion. Rombaut was Area Manager for the Gulf, overseeing markets that included Dubai, Abu Dhabi, Bahrain, Qatar,Oman, and Israel, as well as coordinating with India on travel retail. Sulkes joins Bacardi after working with NorwegianCruise Line for the past five-and-a-half years as Onboard Revenue and Marketing Manager. Both Rombaut and Sulkesreport to Vice President-Travel Marketing José Chao.

US. Stan Myers, long-time sales representative of Tasco optical goods in Americas duty free, has passed away aged 73.He was a well-known and much respected figure in the trade in the Americas, and a stalwart of the IAADFS duty freeshow for many years. “Stan and his wife started the optical business in Americas duty free,” said industry colleague andfriend Lars Johannson, President of Imagination Unlimited International. “The industry has lost an original gentlemanof duty free.” He is survived by Myrna (his wife of 50 years), two children and grandchildren.

Thank you for your readership and support of The Moodie Report.

Martin Moodie, Editor and Publisher

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