Just what is attracting more beauty brands to enter the $60bn global travel retail market?
The duty free and travel retail industry is “flourishing”, according to TFWA President Erik Juul-Mortensen. Speaking at the TFWA World Exhibition in Cannes, which ran from 25-31 October and attracted a 6% rise in both visitor numbers and companies attending this year, the global duty free and travel retail market itself grew by 7% over the past year to hit the $60bn mark. It is a milestone for a market that, 30 years ago, was worth just 10% of today’s value.
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