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After 26 years with the Estée Lauder Group, Olivier Bottrie, Global President, Travel Retail and Retail Development, will retire in June.
US cosmetics group Estée Lauder is reviewing its Travel Retail strategy for 2022, with a major change being the departure of Olivier Bottrie in June 2022. He will be succeeded by Israel Assa, currently President of the Global Travel Retail Division. His position will be taken over by Javier Simon, currently President Travel Retail Asia Pacific.
Changes within the group
As of 1 May, Olivier Bottrie will take on a simple advisory role and will hand over to his successor. He has been head of Travel Retail for 18 years and under his leadership the group’s business has grown from 6% to 28% of turnover from 2004 to 2021. The Estée Lauder Travel Retail business is now present in 140 countries and territories, thanks to new shop concepts and the strengthening of the omnichannel component.
The group has had to make restrictions due to the Covid-19 pandemic in 2020, and said in a statement that : “Throughout the Covid-19 pandemic, as the Travel Retail industry faced an unprecedented level of disruption, Olivier Bottrie placed a high priority on the health, safety and well-being of his colleagues and their families. Olivier Bottrie’s steady hand throughout the pandemic and his confidence in his team’s ability to weather the storm were important to Estée Lauder’s success.”
In the second quarter of its financial year (from September to December), the group published a turnover of 5.54 billion dollars, results that have led it to revise upwards its forecasts for the year 2022.
Travel retail, a lucrative market
According to ResearchAndMarkets.com’s “Travel Retail Market by Product and Channel: Global Opportunity Analysis and Industry Forecast, 2021 – 2030″, the global travel retail market was estimated to be worth USD 19.73 billion in 2020. This is expected to grow at an annual rate of 21.6% to reach $174.86 billion by 2030.
Rapid urbanisation and the expansion of the middle class are fuelling the growth of the travel and tourism market, but also, as a result, of travel retail. The arrival of millennials in the market is also driving this expected growth in the coming years.
Still, North America held the major share of the market in 2020, due to the increasing inclination of people in the US and Canada towards travel and tourism. However, Asia Pacific is also expected to grow rapidly over the forecast period, due to the expanding middle class and affordable travel options in emerging countries such as India and China.
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After 26 years with the Estée Lauder Group, Olivier Bottrie, Global President, Travel Retail and Retail Development, will retire in June.
US cosmetics group Estée Lauder is reviewing its Travel Retail strategy for 2022, with a major change being the departure of Olivier Bottrie in June 2022. He will be succeeded by Israel Assa, currently President of the Global Travel Retail Division viagra para mulher. His position will be taken over by Javier Simon, currently President Travel Retail Asia Pacific.
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After 26 years with the Estée Lauder Group, Olivier Bottrie, Global President, Travel Retail and Retail Development, will retire in June.
US cosmetics group Estée Lauder is reviewing its Travel Retail strategy for 2022, with a major change being the departure of Olivier Bottrie in June 2022. He will be succeeded by Israel Assa, currently President of the Global Travel Retail Division. His position will be taken over by Javier Simon, currently President Travel Retail Asia Pacific.
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