Pernod Ricard Global Travel Retail (PR GTR) is returning to this year’s Tax Free World Association buoyed by a double-digit sales uplift of +40% in full-year 2023.
The rise coincides with a new chapter for the group, as outgoing Chairman & CEO Mohit Lal retires after over 23 years, handing the reins to new Chairman & CEO Laurent Pillet. Both executives will attend this year’s Cannes show, where PG GTR will showcase a number of new launches from its global and emerging brands.
Travel retail innovation
Innovations from Royal Salute, Ballantine’s, The Malts portfolio, Martell, Absolut and Chivas – plus other brands – will be presented, including an exciting new global travel retail exclusive limited edition.
PR GTR plans to launch 56 new products in the next 12 months, including 19 TR exclusives. In addition to driving growth in the ultra-prestige category, the group will focus on evolving consumer demands through exclusive products, cutting-edge retail design and its sophisticated training tools, in order to generate sustainable value growth in 2024.
PR GTR continues to accelerate its ambitions in circular making and sustainable retail design, informed by its award-winning Lifecycle Analysis (LCA) tool first launched in 2021.
In 2023, the group has continued to showcase best-practice examples of zero-waste exhibition booths and retail activations.
Its TFWA Cannes exhibition booth was designed with circularity in mind, built to adapt and last with zero waste to landfill or incineration, and using innovative sustainable materials.
It is a continuation of PR GTR’s S&R Circular Making strategy, which is implemented across 100% of retail projects. Since the launch of this strategy in 2021, PR GTR has delivered a 48% CO2 reduction and tracked over 700 LCA reports across two fiscal years.
Following the success of the ‘Good Spirits’ sustainability-focused event for media in 2022, PR GTR will once again host journalists for a panel discussion on the role of behavioural science vs creativity regarding consumer engagement in retail.
Lal commented: “With passenger numbers at roughly 90% of pre-COVID levels and continued recovery in Asia, we were delighted with such a strong performance notably on scotch, Martell and Absolut in FY23.
“Continuing momentum into FY24, we’re thrilled to return to TFWA Cannes, as the event itself regains its strength in numbers of exhibitors and visitors.
“The TFWA World Exhibition & Conference remains an invaluable opportunity for us to connect with key customers and partners and for me, a chance to say farewell to business partners, as well as personal friends, with whom I cherish so many fond memories.”
Pillet added: “I am greatly looking forward to attending the TFWA World Exhibition in Cannes for the first time. I believe that the event presents the perfect opportunity for the business to engage with all industry stakeholders and share key insights that support the consumer journey.”
He concluded: “I am keen to demonstrate how we put travellers at the heart of everything we do, in collaboration with our partners, which is crucial to our continued success.”