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Euroluxe claims bumper H1
DUBAI - Dubai-based Euroluxe, representing a variety of luxury goods in the Gulf duty free sector reported a bumper first six months this year, despite less people travelling, due to the Iraq conflict and SARS.
Euroluxe says its revenue from products placed with airlines has gone up 106 per cent and duty free business 'on the ground' has increased 67 per cent.
"It's all due to the professionalism of the airlines operating in this region plus the tremendous service offered by the respective Gulf duty free operators and outlets," says Euroluxe Managing Director, Xavier Bouin.
"We've done extremely well in the first half of the year and we're obviously very upbeat about the rest of 2003 as well. We'll be stepping up activities in a variety of ways to maintain the momentum," says Bouin.
Part of Euroluxe's strategy is to sign up for Middle East Exclusive in Dubai later this year, the region's first exhibition for the duty free sector. It will use the exhibition to showcase Caran d'Ache pens from Switzerland, Caron Perfumes of Paris and Lancel Leather Collection, also of Paris. Middle East Exclusive will be held at the Dubai World Trade Centre from December 1-3.
The global duty free industry is massive. It is valued at $20 billion and the regional duty free sector is worth $800 million, according to statistics compiled by Generation DataBank, the Swedish-based industry-monitoring organisation. Statistics also reveal that duty free sales in the Middle East have surged an average of 10 per cent a year since 1997, well ahead of global growth.
The retail travel sector represents 30 per cent of Euroluxe's annual turnover of which 60 per cent is generated through airlines and 30 per cent from duty free outlets.
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