Pernod Ricard travel retail sales plummet 64% in Q1

Jameson Irish whiskey owner Pernod Ricard experienced a 64% decline in global travel retail sales during the first quarter of its 2021 fiscal year as passenger numbers remain significantly down. Despite the hit on global travel retail (GTR) sales, Pernod Ricard alson noted the ‘positive impact’ of opening Hainan island, China, to duty free spirits sales. Overall, Pernod Ricard’s Q1 2021 sales were down 6% compared to the previous year’s quarter. However, the company said…

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Covid-19 vaccine could see travel recover in six months

Once a Covid-19 vaccine is widely available, international travel could rebound in six months but business travel will remain suppressed, Mohit Lal, chair and CEO of Pernod Ricard Global Travel Retail, has said. Like many companies, Pernod Ricard has experienced a challenging year in global travel retail (GTR) due to the Covid-19 pandemic. The company’s full-year results, published in September, showed a double-digit decline in the channel. In an interview with The Spirits Business last…

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Pernod GTR boss: Adaptability is key in travel retail

Despite its challenges, travel retail is in a “much stronger” position to generate value growth than domestic retail, the CEO of Pernod Ricard Global Travel Retail has said. Speaking to The Spirits Business, Pernod Ricard Global Travel Retail (GTR) head Mohit Lal said GTR “performance has stayed strong” as traveller numbers continue to grow. According to recent Generation Research figures, the GTR market increased sales by 9.3% in 2018 to US$75.7 billion. Wine and spirits…

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