Lagardère Services-owned LS travel retail North America announced yesterday that it has acquired the assets of New York JFK T4 retailer Terminal 4 Saveria USA, Inc for an undisclosed sum, which include the operation of 20,000sq ft of retail space.

 

The Sardana family have been the founding and predominant specialty duty paid retail operator at Terminal 4 since 2002 and the two parties have confirmed that Saveria USA will partner with LS in ‘a new JFK Terminal 4 venture moving forward’.

 

Currently, the portfolio of 17 shops that LS travel retail North America is acquiring includes Tumi, Longchamp, Hugo Boss, Swarovski, Bijoux Terner, and Chocolate and More, although LSTR says it will redevelop an extra 9,000sq ft of retail space for new specialty shops to complement the existing T4 offer.

 

The acquisition comes at a time where New York JFK is enjoying record passenger numbers. Last year it reported 17.1m – a rise of 18% on 2013, representing an overall increase of 2.6m passengers.

 

 

 

PROMISING A WHOLE NEW RETAIL LEVEL…

Dag Rasmussen, Chairman and CEO of Lagardère Services commented: “Following Saveria’s many years in Terminal 4 – a premiere travel gateway into New York City – we look forward to working closely with JFKIAT and the Sardana family to take the shopping experience offered to Terminal 4 travellers to a whole new level.

 

“By acquiring certain assets of Saveria USA, LS travel retail North America will bring its significant expertise to the benefit of Terminal 4’s concession programme and to the millions of passengers who pass through its doors each year.”

 

Adding his comments, Gerry Savaria, President and CEO of LS travel retail North America added: “Terminal 4 at JFK is a model for other airport terminals around the country. We are excited to begin this new part of the Saveria story and are eager to work with JFKIAT for many years to come.”

 

For his part, Gert-Jan de Graaff, President & CEO of JFKIAT said: “This new partnership with LS travel retail will ensure that Terminal 4 passengers have the most pleasant and efficient travel experience of any airport terminal in New York City. With the help of this world-renowned company, travellers from all corners of the globe will continue to enjoy the brands and level of service offered by our tremendous retail partners.

 

“We thank the Sardana family for the strong partnership and commitment to offering passengers the best retail options and for contributing to JFKIAT’s success.”

 

 

 

AIRPORT ADDS ITS BLESSING….

The last comment was reserved for Claus Kohlenberger, President of Saveria USA, Inc. who added: “We have the highest regard for the professionalism and dedication demonstrated by the LS team throughout the journey that led to the execution of this agreement and believe they will be a great fit with the excellent team at JFKIAT. This strong partnership shares a common thread: our passion for travel retail and commitment to serving passengers.”

 

Terminal 4, operated by JFKIAT, LLC – the only non-airline, privately-operated terminal in the US – is home to 28 airlines and this acquisition – depending on how much Lagardère Services-owned LS travel retail has paid of course – would appear to make a lot of sense given the high profile of the retailer’s specialty retail business in other parts of the world.

 

LSTR will also not have missed the fact that there are also more than a million Chinese Americans living and working in New York City, with approximately 650,000 Chinese tourists visiting the US state each year. The airport also now has a new direct China Southern route from Guangzhou, which can be good news for the retailer.

 

As it LSTR says itself, it currently operates more than 4,100 stores across the world, including a presence at over 150 airports and 700 stations in 30 countries in Europe, North America, Asia and the Pacific. It also claims to run the largest international network of duty free and luxury, travel essentials and foodservice stores.

 

 

 

SARDANA HAS TRADED AT T4 FOR 13 YEARS

For its part, New York Terminal 4 is the only privately-owned North American airport with the holding company, JFKIAT, LLC owned by Schiphol USA Inc., a U.S. affiliate of the Schiphol Group.

 

BRIEF BACKGROUND: It was back in June 2009 that Aer Rianta International (ARI) sold its 70% shareholding in the Aer Rianta International Sardana Jfk Inc duty paid joint venture to Saveria USA, which was based indirectly at Vienna Airport at that time.

 

That sale included all of the joint company’s assets at JFK Terminal 4, as well as its stake in the fashion operation at Boston Logan International Airport.

 

The two partners originally opened their New York JFK T4 operation in 2003 with 12 specialty retail stores and added to this with a new operation at Boston Logan International Airport after winning a five-year fashion contract in 2007 and opening it in 2008.

 

The full story covering this earlier transaction can be found in the TRBusiness vaults here: http://www.trbusiness.com/regional-news/the-americas/saveria-buys-out-ari-in-jfkt4-and-boston/65709