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duty free retailers loosing money

because of the closure of European airspace, duty-free retailers are loosing millions.
by

Dimitri Nataf

on 21 April 2010

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Transcript of duty free retailers loosing money

Volcano in Iceland erupts April 14, 2010 Eyjafjallajökull erupts Air traffic is jammed
for six days Ash is spread around
Europe. up to 81,000 flights have
been cancelled Duty-free retailers lose $ The closure of European airspace is
costing duty-free retailers
25 million euros a day The shutdown of the airspace
is hurting an economy that has
been struggling to recover since
last years recession. sales of duty-free items
fell 8% last year to $22.4 billion
last year. Luxury brands other luxury brands that will be affected are
Louis Vuitton
Moet & Chandon
Burberry
Hennesy Salvatore Ferragamo has 130 duty free stores worldwide,
accounting for between 10 percent
and 11 percent of annual sales Duty free is the fifth-biggest market for spirits sales
Full transcript