Dubai-based Euroluxe records 106 percent revenue increase
Dubai-based Euroluxe says its revenue from products placed with airlines has gone up 106 percent and duty free business 'on the ground' has increased 67 percent.
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 Center 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 . Statistics also reveal that duty free sales in the Middle East have surged an average of 10 percent a year since 1997, well ahead of global growth.
The retail travel sector represents 30 percent of Euroluxe's annual turnover of which 60 percent is generated through airlines and 30 percent from duty free outlets. Euroluxe was established in 1997 in Dubai as the regional office for a variety of luxury brands. It handles 12 brands in over 20 countries in the Middle East, Indian SubContinent and CIS. — (menareport.com)
© 2003 Mena Report (www.menareport.com)