Global Travel Retail and Distributors
Global Travel Retail
The Travel Retail business, which is assigned to the Swiss market in organizational terms, has recovered fully from the restrictions on travel in the past financial year. The impressive organic growth of 20.1% in the reporting period was supported by all regions. The renewed increase in per capita spending for each air passenger indicates that consumers had a backlog of demand that they covered with products such as Lindor, Napolitains and Gold Bars. The increased demand was supported by the introduction of new products, including smaller formats that appeal to different target groups. Attractive gift packaging, in particular customizable offers, makes our chocolates a popular souvenir for loved ones back home. In addition, a newly launched Lindor product format that is perfect for in-flight enjoyment enjoyed great popularity. Another newly launched Lindor “Art of Gifting” product format at London Heathrow airport and the new Salted Caramel flavor for Lindor, Napolitains, and Gold Bar was also very well received.
Distributors
We were able to maintain the pace of growth seen in recent years, with an increase of 14.4% in 2023. Our strategy in the premium segment delivered strong results in emerging markets such as Bulgaria, Romania, India, and South Korea. Lindor, our leading brand, continued to drive growth and achieved remarkable double-digit volume growth in all markets. It emerged as the fastest-growing brand in many countries, resulting in significant market share gains across all monitored markets. The premium chocolate segment demonstrated resilience despite inflationary pressures, with seasonal sales rebounding. Middle Eastern countries capitalized on Eid and Ramadan festivities, Asia Pacific excelled during Valentine’s Day and Chinese New Year, and Europe benefited from Easter and Christmas sales. The recovery from inflationary pressures in the Latin American region was more gradual, yet Lindt gained market shares with Lindor across markets in the face of category decline and strong currency volatility.