The 100 square metre store, located in the airport’s new Terminal 2, features Lacoste’s latest concept design. The brand said the store aims to offer a premium shopping experience to local and international travellers.
Lacoste Asia Pacific Travel Retail Director Erin Lillis-Arrowsmith said: “We are very excited to break into this new market with this new standalone boutique in Yangon Airport. SMI [Singapore Myanmar Investco Ltd] has put together a great brand line-up and we’re looking forward to a great partnership.”
Lacoste’s strongest markets in travel retail are Asia and Europe. “Things out of our control like terrorist attacks are hurting the travel retail business big time but for us Asia is doing well,” noted Lacoste CEO Asia Pacific and Global Travel Retail Jean-Louis Delamarre. “The partners we have, airports and retailers, are seeing that the Lacoste brand is becoming hotter and hotter.
“In 2016 we are focusing on our core markets of Asia and Europe, together the two make up 85% of our business. North America and Latin America are not a big priority for us at this stage.”
E-commerce, already a significant proportion of Lacoste’s business in the domestic channel, will be a core focus going forwards in travel retail as well. “We are already doing a big chunk of travel retail business online in Korea and Thailand,” revealed Delamarre.
“More and more, consumers will have and seize the opportunity of selecting and shopping online from home before they travel, and pick-up their purchase at the airport. This is not a trend we can neglect.”
(Source: Moodie Davitt Report)