The Chairman of Argentine duty free retailer, Teddy Taratuty was awarded the Lifetime Achievement award at the 20^th ASUTIL conference held at the Sheraton Santiago hotel in Chile this week.

 

After accepting the award he made some stirring comments about the need to preserve the duty free business and the (historically) attractive pricing structure that he said is being eroded.

 

He suggested that the lines between duty paid, travel retail and duty free are becoming too blurred and without the help of suppliers the industry is in danger of changing forever.

 

“Some suppliers are trying to modify conditions, which as retailers we’ve been able to maintain over a number of years,” said Taratuty [through live translation at the conference].

 

CAN THE PRICING STRUCTURE BE PRESERVED?

“This industry could always pride itself on its price difference with the domestic market. The concept of duty free has changed. We must come together to avoid the situation taking over.

 

“I sincerely hope that this is just a concern and that we as industry together can find a consensus on the basis that we remain a duty free industry.”

 

In some closing remarks made by ASUTIL board members, Enrique Urioste, CEO of Neutral echoed Taratuty’s sentiments, by saying that he believes the duty free business can be saved if this substantial price difference can be preserved.

 

 

He also commended ASUTIL’s efforts to protect the industry over the last 20 years. “The association was first formed in order to protect and to promote this industry.

 

“We can be proud of what we have achieved and say we have been able to accomplish, with lobbying efforts, the promotion of many developments in this industry, in this region.”