LS Travel Retail, a division of Lagardé¨re Services, has bought the shares held by The Nuance Group in Duty Free Paris.
The purchase, made via LS Travel Retail’s duty free subsidiary Aelia, will boost the company’s fashion and accessories portfolio.
”This buyout is an important step forward for our group, strengthening our presence in the fashion industry,” says Dag Rasmussen, chairman and CEO. “Our expertise has already been acknowledged, in particular with the Fashion Gallery concept in Singapore – winning a DFNI Award for Travel Retail Excellence – so our ambition can now be extended worldwide.
“LS travel retail will now be operating the majority of fashion sales outlets in Paris-Charles de Gaulle and Paris-Orly, under its joint-venture with Aé©roports de Paris,” Rasmussen continues. “As such, this operation is a strong indication of our deepening partnership with ADP and confirms the trust ADP has had in us for many years. Our shared ambition is to provide Paris with the finest fashion and accessories offer in the world, reflecting French elegance and refinement.”
