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<br /> Unlocking cross-<br /> conversion to<br /> drive dual spend<br /> Rituals to make<br /> Korea TR debut<br /> with Lotte DF<br /> Liht Organics<br /> laser focused<br /> on going global<br /> - ESTABLISHED 1997 -<br /> HELPING THE INDUSTRY GROW<br /> AUGUST/SEPTEMBER 2026<br /> How confectionery<br /> can work harder for<br /> today's shoppers<br /> Shiseido TR<br /> talks double-digit<br /> growth markets<br /> Mondelēz WTR:<br /> `Power partnerships<br /> built on co-creation'<br /> Sarah Branquinho<br /> DF&TR's growth opportunity relies on understanding passengers... p23<br /> ALSO INSIDE<br /> NEWS DIGEST | REASONS TO ATTEND THE TRAVEL RETAIL AWARDS | LESSONS FROM<br /> CHAMPAGNE LANSON'S ORGANIC & BIODYNAMIC WINEMAKING | THE HERSHEY<br /> COMPANY | LINDT & SPRÜNGLI | COUNTER INTELLIGENCE | SHELF APPEAL<br /> Making travelers happier by combining the best<br /> of travel retail, convenience and food & beverage.<br<a title="TRBusiness August/September 2026 page 1" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=1"> Unlocking cross- conversion to drive dual spend </a> <a title="TRBusiness August/September 2026 page 2" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=2"> Making travelers happier by combining the best of</a> <a title="TRBusiness August/September 2026 page 3" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=3"> </a> <a title="TRBusiness August/September 2026 page 4" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=4"> LUMIÈRE DU JOUR LUMIÈRE DU JOUR THETHE NEW E</a> <a title="TRBusiness August/September 2026 page 5" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=5"> WELCOME Welcome to the Aug/Sep issue Missed op</a> <a title="TRBusiness August/September 2026 page 6" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=6"> Contents TRBusiness Volume 29, Issue 07 August 20</a> <a title="TRBusiness August/September 2026 page 7" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=7"> Lindt & Sprüngli.................... 53 Why</a> <a title="TRBusiness August/September 2026 page 8" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=8"> NEWS ROUNDUP Shilla Duty Free Q2: revenue down</a> <a title="TRBusiness August/September 2026 page 9" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=9"> NEWS ROUNDUP Shinsegae Duty Free grows profit in</a> <a title="TRBusiness August/September 2026 page 10" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=10"> WINNING THE CONSUMER VOTE WHAT TO EXPECT AT OU</a> <a title="TRBusiness August/September 2026 page 11" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=11"> Heathrow and Avolta bring back Redefine Your Beaut</a> <a title="TRBusiness August/September 2026 page 12" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=12"> NEWS ROUNDUP 33 nneeww beeaauutyy ssppoottss....</a> <a title="TRBusiness August/September 2026 page 13" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=13"> NEWS ROUNDUP Unifree Duty Free launches immers</a> <a title="TRBusiness August/September 2026 page 14" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=14"> HE BIG PICTURE T 14 TRBUSINESS </a> <a title="TRBusiness August/September 2026 page 15" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=15"> Rare series Toblerone Crystal Bar handcrafted by </a> <a title="TRBusiness August/September 2026 page 16" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=16"> Seeking real tobacco taste? For Trade Only</a> <a title="TRBusiness August/September 2026 page 17" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=17"> TRAVEL RETAIL AWARDS You're invited! Join us as</a> <a title="TRBusiness August/September 2026 page 18" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=18"> VOTED BY SHOPPERS AATTTTEENNDDTTHHEEDDFF&TT</a> <a title="TRBusiness August/September 2026 page 19" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=19"> GOLD SPONSORS GGOOLLDDSSPPOONNSSOORRSS </a> <a title="TRBusiness August/September 2026 page 20" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=20"> TR SUSTAINABILITY HUB GREEN GOAL UNLOCKED How </a> <a title="TRBusiness August/September 2026 page 21" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=21"> TR SUSTAINABILITY HUB Organic cuvée is made excl</a> <a title="TRBusiness August/September 2026 page 22" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=22"> </a> <a title="TRBusiness August/September 2026 page 23" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=23"> COVER STORY: TFWA Demand for quality over quant</a> <a title="TRBusiness August/September 2026 page 24" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=24"> COVER STORY: TFWA Above: The</a> <a title="TRBusiness August/September 2026 page 25" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=25"> COVER STORY: TFWA have, of course, been consider</a> <a title="TRBusiness August/September 2026 page 26" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=26"> COVER STORY: TFWA mindful that there may be no s</a> <a title="TRBusiness August/September 2026 page 27" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=27"> COVER STORY: TFWA alongside gaining a deeper und</a> <a title="TRBusiness August/September 2026 page 28" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=28"> HYBRID RETAILF&B Unlocking greater value throu</a> <a title="TRBusiness August/September 2026 page 29" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=29"> HYBRID RETAILF&B case in point, which shows how</a> <a title="TRBusiness August/September 2026 page 30" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=30"> HYBRID RETAILF&B Above: </a> <a title="TRBusiness August/September 2026 page 31" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=31"> HYBRID RETAILF&B A fashion or lifestyle bra</a> <a title="TRBusiness August/September 2026 page 32" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=32"> START YOUR TASTE JOURNEY at</a> <a title="TRBusiness August/September 2026 page 33" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=33"> FOOD & CONFECTIONERY Meeting broader shopper ne</a> <a title="TRBusiness August/September 2026 page 34" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=34"> FOOD & CONFECTIONERY “Younger shoppers especial</a> <a title="TRBusiness August/September 2026 page 35" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=35"> </a> <a title="TRBusiness August/September 2026 page 36" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=36"> NEW AND EXCLUSIVE TO TRAVEL RETAIL</a> <a title="TRBusiness August/September 2026 page 37" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=37"> FOOD & CONFECTIONERY </a> <a title="TRBusiness August/September 2026 page 38" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=38"> FOOD & CONFECTIONERY Above: Mo</a> <a title="TRBusiness August/September 2026 page 39" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=39"> Kids and grown-ups love it so, the happy worl</a> <a title="TRBusiness August/September 2026 page 40" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=40"> FOOD & CONFECTIONERY Above: Aisl</a> <a title="TRBusiness August/September 2026 page 41" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=41"> Travel Retail P O H S R DE R O B Welcome on boa</a> <a title="TRBusiness August/September 2026 page 42" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=42"> NEW LET'S GET FRUITY! FULL OF FRU</a> <a title="TRBusiness August/September 2026 page 43" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=43"> FOOD & CONFECTIONERY half of non-buyers in trave</a> <a title="TRBusiness August/September 2026 page 44" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=44"> FOOD & CONFECTIONERY Above</a> <a title="TRBusiness August/September 2026 page 45" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=45"> </a> <a title="TRBusiness August/September 2026 page 46" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=46"> FOOD & CONFECTIONERY “While value remains a key</a> <a title="TRBusiness August/September 2026 page 47" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=47"> FOOD & CONFECTIONERY gift space,” Walsh said. Th</a> <a title="TRBusiness August/September 2026 page 48" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=48"> </a> <a title="TRBusiness August/September 2026 page 49" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=49"> THE HERSHEY COMPANY Leveraging exclusivity to p</a> <a title="TRBusiness August/September 2026 page 50" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=50"> THE HERSHEY COMPANY These pag</a> <a title="TRBusiness August/September 2026 page 51" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=51"> THE HERSHEY COMPANY limited editions, distinctiv</a> <a title="TRBusiness August/September 2026 page 52" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=52"> engaging retail delivery, since 1999</a> <a title="TRBusiness August/September 2026 page 53" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=53"> LINDT & SPRÜNGLI Travellers crave discovery, di</a> <a title="TRBusiness August/September 2026 page 54" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=54"> LINDT & SPRÜNGLI to destination-inspired concept</a> <a title="TRBusiness August/September 2026 page 55" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=55"> LINDT & SPRÜNGLI for premium products, particula</a> <a title="TRBusiness August/September 2026 page 56" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=56"> WHYTE & MACKAY Shoppers from India: the fastest</a> <a title="TRBusiness August/September 2026 page 57" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=57"> WHYTE & MACKAY great success with these new laun</a> <a title="TRBusiness August/September 2026 page 58" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=58"> KOSÉ TRAVEL RETAIL Kos</a> <a title="TRBusiness August/September 2026 page 59" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=59"> KOSÉ TRAVEL RETAIL home market, and our next opp</a> <a title="TRBusiness August/September 2026 page 60" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=60"> KOSÉ TRAVEL RETAIL Ab</a> <a title="TRBusiness August/September 2026 page 61" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=61"> SHISEIDO TRAVEL RETAIL Strategies for winning o</a> <a title="TRBusiness August/September 2026 page 62" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=62"> SHISEIDO TRAVEL RETAIL Above </a> <a title="TRBusiness August/September 2026 page 63" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=63"> SHISEIDO TRAVEL RETAIL better engage different na</a> <a title="TRBusiness August/September 2026 page 64" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=64"> L'OCCITANE GROUP Capturing consumers with immer</a> <a title="TRBusiness August/September 2026 page 65" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=65"> L'OCCITANE GROUP business and continues to repre</a> <a title="TRBusiness August/September 2026 page 66" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=66"> L'OCCITANE GROUP experiential activations, more </a> <a title="TRBusiness August/September 2026 page 67" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=67"> LIHT ORGANICS “Wellness is no longer just a bu</a> <a title="TRBusiness August/September 2026 page 68" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=68"> LIHT ORGANICS debut in 20</a> <a title="TRBusiness August/September 2026 page 69" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=69"> LIHT ORGANICS exclusive products. “We definit</a> <a title="TRBusiness August/September 2026 page 70" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=70"> RITUALS Rituals to launch in Korea TR; elevates</a> <a title="TRBusiness August/September 2026 page 71" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=71"> RITUALS APAC with 14 locations and its main part</a> <a title="TRBusiness August/September 2026 page 72" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=72"> COUNTER INTELLIGENCE Some of the best in Augus</a> <a title="TRBusiness August/September 2026 page 73" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=73"> WORK LIFE Spend a workday with... Naomi McCann C</a> <a title="TRBusiness August/September 2026 page 74" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=74"> HERO PRODUCT SHELF APPEAL TRBusiness zooms in</a> <a title="TRBusiness August/September 2026 page 75" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=75"> OVER TO YOU: MONDELĒZ WTR Empowering ambition t</a> <a title="TRBusiness August/September 2026 page 76" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=76"> COMMENT Now and Then... From duty-free to desti</a> <a title="TRBusiness August/September 2026 page 77" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=77"> </a> <a title="TRBusiness August/September 2026 page 78" href="https://secure.viewer.zmags.com/publication/0f3ba3ec?page=78"> QDF: `Current environment will accelerate change'</a>