Annual Review 2011 - The Nuance Group

The Nuance Group
Annual Review 2011
Looking ahead
We believe in the value of a long-term
approach. To complement our extensive
global airport shop portfolio, we continue
to invest in and build a number of areas
across our business that we will develop
in the years ahead. For example, our
flourishing Retail Services & Distribution
(RS&D) division concluded several key
agreements last year, including the supply
and management of the new Duty Free
departure store at Karachi Airport, in
Developing our US focus
In North America, we have been building our
presence for 30 years and remain focused on
developing and expanding our reach across
the continent.
In 2010 we were awarded a 15-year contract
extension at Las Vegas’ McCarran International
Airport. Now we are building on that success
with a further investment and will add an
additional 1,100 square metres of retail space
at the new Terminal 3 when it opens in June
2012. When complete, it will offer one of the
largest duty free stores in the country and
showcase an extensive product range, as well
as several exciting retail concepts new to the
American market.
partnership with Zainab UK. It also grew
our in-flight sales channel, with the start
of a number of new contracts, including
Lufthansa Worldshop to supply all
core categories listed on board Swiss
International Air Lines. In addition, RS&D
plays an important role for the Group by
spearheading our entry into new markets
such as Russia and Eastern Europe,
securing a foothold and gaining valuable
market knowledge.
On the other side of the continent, our bid
for the Duty Free/Duty Paid concession
contract for Orlando International Airport
was recommended by the Airport Authority
and was formally approved in January 2012.
This seven-year contract covers two stores
totalling 711 square metres of retail space,
with plans well underway to unveil an improved
and expanded Duty Free/Duty Paid offer for
domestic and international travellers by the
second half of 2012. The addition of this,
our eighth North American airport location,
further strengthens our business and firmly
establishes us as one of the region’s leading
travel retail operators.
19
Financial statements Review of 2011 Overview