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Iraq Duty Free posts double-digit sales growth in 2014 despite conflict
IRAQ. Iraq Duty Free, which operates the duty free business at Baghdad International Airport, has reported a +16% climb in sales in 2014 (compared to 2013), despite months of conflict that forced the operation’s closure.
The company said: “The reason for this growth is renovation of points of sales, increased retail space and modern architecture of the retail outlets. We had to suspend any purchases between June and September of this year due to the imminent and possible advance of Islamic State on Baghdad and the international airport.”
Iraq Duty Free said it was now “back in business” and was upbeat about the prospects for 2015. It is targeting a sales uplift “of a further +25% to +30% in the year due to "increased passenger figures, a growing middle class that are travelling and new routes agreed by Iraqi Airways". The carrier now has 29 aircraft in service with secured orders for a further 40 and an option on 26 more, for a fleet of just under 100 aircraft, noted the retailer.
By category, fragrances sales climbed +67% year-on-year, reported the company, with cosmetics up +22%. It said it expected fragrances sales to rise by +10-20% in Q1, and cosmetics to grow by +5-10% year-on-year.
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IRAQ. Iraq Duty Free, which operates the duty free business at Baghdad International Airport, has reported a +16% climb in sales in 2014 (compared to 2013), despite months of conflict that forced the operation’s closure.
The company said: “The reason for this growth is renovation of points of sales, increased retail space and modern architecture of the retail outlets. We had to suspend any purchases between June and September of this year due to the imminent and possible advance of Islamic State on Baghdad and the international airport.”
Iraq Duty Free said it was now “back in business” and was upbeat about the prospects for 2015. It is targeting a sales uplift “of a further +25% to +30% in the year due to "increased passenger figures, a growing middle class that are travelling and new routes agreed by Iraqi Airways". The carrier now has 29 aircraft in service with secured orders for a further 40 and an option on 26 more, for a fleet of just under 100 aircraft, noted the retailer.
By category, fragrances sales climbed +67% year-on-year, reported the company, with cosmetics up +22%. It said it expected fragrances sales to rise by +10-20% in Q1, and cosmetics to grow by +5-10% year-on-year.
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