Heard on the Street: Airports and luxury brands are no longer perfect co-pilots
The airport luxury boutique became a staple of the pre-pandemic travel boom. Now it may be heading for the departure gate.
In 2021, air passenger numbers globally totaled 4.6 billion, only half the 2019 level, according to data from the Airports Council International. Airlines aren’t the only ones feeling the pain. Switzerland-based Dufry , one of the world’s biggest duty-free businesses, said in its latest quarterly results that sales are still down 44% compared with the same period of 2019.
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