Sales of goods in airports, cruise ships and duty-free shops grew 9 percent last year to 55.8 billion euros and are set to reach more than 100 billion euros in the next ten years, according to market research firm Institut Generation.Twenty years ago, to plan a trip, you'd have to go to a travels-silkroad agent with your ideas of your trip and the best you could do was to pick up some brochures.Rivals are pushing hard to compete. The travel retail arm of luxury giant LVMH, whose Dior, Guerlain and Givenchy cosmetics products vie with L'Oreal's luxury brands, has been the fastest growing of all the group's businesses."This market, present around the world, could be considered as a 'sixth continent'," L'Oreal Chief Executive Jean-Paul Agon said in a statement on Thursday. "L'Oreal has high ambition for the future of the channel."The new division will oversee the sale to travellers of L'Oreal's luxury products such as Lancome creams and Yves Saint Laurent make-up as well as brands such as La Roche Posay and L'Oreal creams and Kerastase shampoo.Sales from LVMH's DFS travel retail network, which include Sephora cosmetics shops, another popular tourist destination, saw like-for-like growth of 19 percent in the nine months to September 30.
The boost included contributions from LVMH's new DFS concessions in Hong Kong.November means T L's annual pre-Thanksgiving trip to the epicenter of travel technology, otherwise known as the Phocuswright conference, being held right now in Hollywood, Florida.Trivago is already a known brand in two third of the consumers in Europe and will give Xinjiang travel agency an entry in the hotel meta-search business. And Day 1 of the conference yesterday the Travel Innovation Summit is when we get a sneak peak at some of the cool new ideas that these innovators are launching.One of our favorites: Peek, where you can find things to do in destinations all over the world, then book those activities right from the site.Tui Travel, which sells all-inclusive Urumqi travel packages, recently told Sky News that its sales for the summer were up 4% over 2012, while bookings in the month of January jumped 2%. Another cool innovator: What Now, a soon-to-launch destination guide tool you can use in offline mode when abroad with some great twists, like pulling in weather, public transportation, and other data that you'd expect to need a signal for.Ultimately, Peek is trying to help with trip planning,TripAdvisor shares from china tour operators, who resigned as the Chairman of the firm. This transaction gave Liberty voting control over the online travel company. which many companies presenting at the conference have been trying to solve. This year has been no different,The other price multiples are not very forgiving either. Expedia has a kashgar border transfer price-to-sales multiple and an attractive free cash flow multiple. and the trend now is to personalize the trip planning experience as much as possible.
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