LATIN AMERICA. Luryx Duty Free, the downtown duty-free operation at Foz do Iguaçu owned and run by Top Brands International, is delivering strong sales in its first months of trading. That’s according to Neutral by Luryx CEO Marcelo Montico, who said the company is “extremely pleased” with the business to date.
The store, branded as Luryx Duty Free, soft-opened in January with its inauguration following in March. It features 2,700sq m of retail space across two levels.
As reported, the retailer last year signed an exclusive contract to open a duty-free store at Dreams Park, a key tourism location in the region, close to the borders of Argentina and Paraguay.
The store is now maturing and proving popular with the visitor audience from the region, said Montico.
“Performance has exceeded our expectations, and customers appreciate this new shopping experience, which was previously unavailable in the city. Likewise, many of the new brands we have introduced to the product mix were not previously available in any of the local duty-free shops, giving us a significant competitive advantage.”
He added: “Niche fragrance brands are performing exceptionally well, with average transaction values significantly above the overall average. In skincare, we created a dedicated K-Beauty space that is attracting a large young audience, further strengthened by the exclusive presence of Drunk Elephant in the region.
“Other categories, such as apparel, are also helping us stand out. We feature GAP and Adidas SIS stores, both unique in the region and highly sought after by leisure travellers for their exclusive assortment and clear price advantage.”
He said that “the best is still yet to come for this store”. ✈
*Luryx Duty Free features prominently in our June Magazine edition, out shortly, which is dedicated to Latin America travel retail and in particular the 25th ASUTIL Conference. That event takes place on 2-5 June in Punta Cana, with The Moodie Davitt Report as Official Media Partner.
