Speaking to journalists in London on Tuesday at Pernod’s half-year results round-table meeting, the deputy chief executive and chief operating officer said: "As a whole if it were a country it would be our third or fourth largest country in the world from a profit point of view."
"Travel retail across the world has had a good year," he said, pointing to double digit growth in Asia/ROW and 7% growth in US travel retail. "We have three big travel retail business units: Europe, the US and Asia. Specifically Asia for premium travel retail [such as] Scotch whiskies, Absolut and high-end wines.”
Ricard added that “premiumisation is on-going” in the sector thanks to a proliferation of Chinese travelers in Asia and Russians in Europe and said there are “discrepancies” between duty free and domestic prices.
Laurent Lacassagne, chairman and chief executive of Chivas Brothers, said the sector was “a fantastic shop window” for Pernod’s brands and “a fantastic opportunity” for its brands to “meet consumers”.
He said: “Travellers are open-minded consumers with time - things we don't find too
much in normal life.”
Lacassagne added that he was “looking to catch that opportunity” with Perod’s malt and Chivas range and said the group would continue to “work with travel retail units to develop specific editions for travellers”.