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<br /> Baltic Princess<br /> starts a new<br /> reign at sea<br /> First ARA trade<br /> interview for<br /> 25 years<br /> TR Consumer<br /> Forum lands<br /> in Amsterdam<br /> - ESTABLISHED 1997 -<br /> HELPING THE INDUSTRY GROW<br /> JUNE/JULY 2025<br /> Top 10 airports<br /> navigate global<br /> uncertainty<br /> TFWA Asia<br /> Pacific: The<br /> numbers<br /> In focus: FAWJ<br /> suppiers talk<br /> trading<br /> Arthur Reijnhart<br /> Schiphol in transformation mode as new duty free concession begins... p28<br /> ALSO INSIDE<br /> DUBAI | HEATHROW | INCHEON | CHANGI | PARIS CDG | ISTANBUL | FRANKFURT<br /> HONG KONG | HAMAD | LAGARDÈRE TRAVEL RETAIL | APTRA | COEUR DE LION<br /> BOTTEGA | COTY | NUXE | THE BIG PICTURE | PEOPLE NEWS | NOW & THEN<br /> RETAIL CAMPAIGNS<br /> LIVE EXPERIENCES DIGITAL & CONTENT PUBLIC RELATIONS<br /> <a title="TRBusiness June/July 2025 page 1" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=1"> Baltic Princess starts a new reign at sea First</a> <a title="TRBusiness June/July 2025 page 2" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=2"> </a> <a title="TRBusiness June/July 2025 page 3" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=3"> WELCOME Welcome to the June/July issue DXB defe</a> <a title="TRBusiness June/July 2025 page 4" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=4"> Contents TRBusiness Volume 28, Issue 05 June/July</a> <a title="TRBusiness June/July 2025 page 5" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=5"> Istanbul................................. 64 </a> <a title="TRBusiness June/July 2025 page 6" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=6"> NEWS ROUND-UP TFWA reveals further numbers on T</a> <a title="TRBusiness June/July 2025 page 7" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=7"> NEWS ROUND-UP First-look at Tallink’s renovated </a> <a title="TRBusiness June/July 2025 page 8" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=8"> NEWS ROUND-UP Qatar Airways Group profit soars t</a> <a title="TRBusiness June/July 2025 page 9" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=9"> The Asia Pacific Travel Retail Association (APTRA)</a> <a title="TRBusiness June/July 2025 page 10" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=10"> NEWS ROUND-UP Coty launches Davidoff Cool Elixir </a> <a title="TRBusiness June/July 2025 page 11" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=11"> ‘Tilbury Terminal’ opens at Stockholm Arlanda </a> <a title="TRBusiness June/July 2025 page 12" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=12"> </a> <a title="TRBusiness June/July 2025 page 13" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=13"> NEW TRAVEL EXCLUSIVES </a> <a title="TRBusiness June/July 2025 page 14" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=14"> THE BIG PICTURE 14 TRBUSINESS </a> <a title="TRBusiness June/July 2025 page 15" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=15"> QDF aces airport-wide takeover to mark 25th anniv</a> <a title="TRBusiness June/July 2025 page 16" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=16"> TR CONSUMER FORUM Shift from `Transaction to Tr</a> <a title="TRBusiness June/July 2025 page 17" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=17"> TR CONSUMER FORUM their passes before the confer</a> <a title="TRBusiness June/July 2025 page 18" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=18"> </a> <a title="TRBusiness June/July 2025 page 19" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=19"> Y E A R F O S REDEFINING TRAVEL RETAIL Tha</a> <a title="TRBusiness June/July 2025 page 20" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=20"> TR CONSUMER FORUM as well as how they are levera</a> <a title="TRBusiness June/July 2025 page 21" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=21"> TR CONSUMER FORUM Hazel Catterall, Director, New</a> <a title="TRBusiness June/July 2025 page 22" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=22"> TR CONSUMER FORUM Left to right: Marcu</a> <a title="TRBusiness June/July 2025 page 23" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=23"> TR CONSUMER FORUM Left to right: Melvi</a> <a title="TRBusiness June/July 2025 page 24" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=24"> TR CONSUMER FORUM Above: TR in </a> <a title="TRBusiness June/July 2025 page 25" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=25"> WE ARE PROUD TO WELCOME OUR INDUSTRY FRIENDS TO </a> <a title="TRBusiness June/July 2025 page 26" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=26"> CONSUMER RESEARCH PARTNER </a> <a title="TRBusiness June/July 2025 page 27" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=27"> DIAMOND SPONSOR PLATINUM SPONSORS </a> <a title="TRBusiness June/July 2025 page 28" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=28"> COVER STORY Schiphol raises the bar on retail a</a> <a title="TRBusiness June/July 2025 page 29" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=29"> City hopping in every bite</a> <a title="TRBusiness June/July 2025 page 30" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=30"> COVER STORY Around 34m Schengen</a> <a title="TRBusiness June/July 2025 page 31" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=31"> COVER STORY at a cost, I would say,” he said. “T</a> <a title="TRBusiness June/July 2025 page 32" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=32"> AIRPORT RETAILERS ASSOCIATION `Airport shopping</a> <a title="TRBusiness June/July 2025 page 33" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=33"> AIRPORT RETAILERS ASSOCIATION lesson we've learn</a> <a title="TRBusiness June/July 2025 page 34" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=34"> AIRPORT RETAILERS ASSOCIATION are shaping airpor</a> <a title="TRBusiness June/July 2025 page 35" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=35"> AIRPORT RETAILERS ASSOCIATION You offer the full</a> <a title="TRBusiness June/July 2025 page 36" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=36"> TOP 10 AIRPORTS INTRO HKIA</a> <a title="TRBusiness June/July 2025 page 37" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=37"> TOP 10 AIRPORTS INTRO (2019) pax volumes. Hong K</a> <a title="TRBusiness June/July 2025 page 38" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=38"> Find your fresh match. Full of taste, </a> <a title="TRBusiness June/July 2025 page 39" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=39"> TOP 10 AIRPORTS: DUBAI INTERNATIONAL DXB takes </a> <a title="TRBusiness June/July 2025 page 40" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=40"> TOP 10 AIRPORTS: DUBAI INTERNATIONAL </a> <a title="TRBusiness June/July 2025 page 41" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=41"> #1 WORLD’S SHISHA BRAND Smoking kills</a> <a title="TRBusiness June/July 2025 page 42" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=42"> ALWAYS FORWARD VISIT US AT TFWA CANNES</a> <a title="TRBusiness June/July 2025 page 43" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=43"> TOP 10 AIRPORTS: HEATHROW New GTR shopper is mo</a> <a title="TRBusiness June/July 2025 page 44" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=44"> TOP 10 AIRPORTS: HEATHROW Abov</a> <a title="TRBusiness June/July 2025 page 45" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=45"> TOP 10 AIRPORTS: HEATHROW </a> <a title="TRBusiness June/July 2025 page 46" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=46"> TOP 10 AIRPORTS: HEATHROW enhancing the customer</a> <a title="TRBusiness June/July 2025 page 47" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=47"> TOP 10 AIRPORTS: HEATHROW </a> <a title="TRBusiness June/July 2025 page 48" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=48"> TOP 10 AIRPORTS: HEATHROW </a> <a title="TRBusiness June/July 2025 page 49" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=49"> TOP 10 AIRPORTS: INCHEON Incheon soars to third</a> <a title="TRBusiness June/July 2025 page 50" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=50"> START YOUR LOVE AFFAIR WITH THE SQUAR</a> <a title="TRBusiness June/July 2025 page 51" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=51"> TOP 10 AIRPORTS: INCHEON giveaways such as disco</a> <a title="TRBusiness June/July 2025 page 52" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=52"> THE NEW EAU DE PARFUM L'ORI</a> <a title="TRBusiness June/July 2025 page 53" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=53"> TOP 10 AIRPORTS: CHANGI Pax s</a> <a title="TRBusiness June/July 2025 page 54" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=54"> Hôtel Martinez, Cannes TUESDAY 30 SEPTEMBER,</a> <a title="TRBusiness June/July 2025 page 55" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=55"> TOP 10 AIRPORTS: CHANGI highest growth with a ye</a> <a title="TRBusiness June/July 2025 page 56" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=56"> TOP 10 AIRPORTS: CHANGI announced in May, was CA</a> <a title="TRBusiness June/July 2025 page 57" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=57"> TOP 10 AIRPORTS: CHANGI </a> <a title="TRBusiness June/July 2025 page 58" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=58"> TOP 10 AIRPORTS: CHANGI Above: T</a> <a title="TRBusiness June/July 2025 page 59" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=59"> TOP 10 AIRPORTS: CHANGI traveller sales from Chi</a> <a title="TRBusiness June/July 2025 page 60" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=60"> </a> <a title="TRBusiness June/July 2025 page 61" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=61"> TOP 10 AIRPORTS: PARIS CDG Paris CDG T1 spend j</a> <a title="TRBusiness June/July 2025 page 62" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=62"> TOP 10 AIRPORTS: PARIS CDG Abo</a> <a title="TRBusiness June/July 2025 page 63" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=63"> TOP 10 AIRPORTS: PARIS CDG and collect them with</a> <a title="TRBusiness June/July 2025 page 64" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=64"> TOP 10 AIRPORTS: ISTANBUL AIRPORT Istanbul Airp</a> <a title="TRBusiness June/July 2025 page 65" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=65"> TOP 10 AIRPORTS: ISTANBUL AIRPORT and accessorie</a> <a title="TRBusiness June/July 2025 page 66" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=66"> TOP 10 AIRPORTS: ISTANBUL AIRPORT </a> <a title="TRBusiness June/July 2025 page 67" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=67"> TOP 10 AIRPORTS: FRANKFURT Will 2026 be a break</a> <a title="TRBusiness June/July 2025 page 68" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=68"> AIRPORTS CONTRACTS RETAIL BRANDS AIRLIN STORES CR</a> <a title="TRBusiness June/July 2025 page 69" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=69"> TOP 10 AIRPORTS: FRANKFURT Things worsened in Q1</a> <a title="TRBusiness June/July 2025 page 70" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=70"> TOP 10 AIRPORTS: FRANKFURT “At the heart of T3 </a> <a title="TRBusiness June/July 2025 page 71" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=71"> TOP 10 AIRPORTS: FRANKFURT shops accompanied by </a> <a title="TRBusiness June/July 2025 page 72" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=72"> EMPOWERING POSSIBILITIES Extraordinary experience</a> <a title="TRBusiness June/July 2025 page 73" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=73"> </a> <a title="TRBusiness June/July 2025 page 74" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=74"> TOP 10 AIRPORTS: HONG KONG HKIA refines online </a> <a title="TRBusiness June/July 2025 page 75" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=75"> TOP 10 AIRPORTS: HONG KONG “Skytopia will be</a> <a title="TRBusiness June/July 2025 page 76" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=76"> TOP 10 AIRPORTS: HAMAD INTERNATIONAL Hamad Inte</a> <a title="TRBusiness June/July 2025 page 77" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=77"> TOP 10 AIRPORTS: HAMAD INTERNATIONAL revenue fro</a> <a title="TRBusiness June/July 2025 page 78" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=78"> TOP 10 AIRPORTS: HAMAD INTERNATIONAL “We're not</a> <a title="TRBusiness June/July 2025 page 79" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=79"> FAWJ REPORT FAWJ segment st</a> <a title="TRBusiness June/July 2025 page 80" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=80"> </a> <a title="TRBusiness June/July 2025 page 81" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=81"> FAWJ REPORT cannot afford not to grasp the fundam</a> <a title="TRBusiness June/July 2025 page 82" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=82"> FAWJ REPORT Oscar Menzel, Global Business Develop</a> <a title="TRBusiness June/July 2025 page 83" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=83"> FAWJ: COEUR DE LION Coeur de Lion builds on cru</a> <a title="TRBusiness June/July 2025 page 84" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=84"> FAWJ: COEUR DE LION Coeur de Lion. </a> <a title="TRBusiness June/July 2025 page 85" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=85"> FAWJ: COEUR DE LION introduction of a new Cruise</a> <a title="TRBusiness June/July 2025 page 86" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=86"> PEOPLE People News Sunil Tuli re-ele</a> <a title="TRBusiness June/July 2025 page 87" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=87"> BRANDS ZONE Supercharge your shelf appeal TRBusi</a> <a title="TRBusiness June/July 2025 page 88" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=88"> COMMENT Now and Then... From grooming boom to b</a> <a title="TRBusiness June/July 2025 page 89" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=89"> </a> <a title="TRBusiness June/July 2025 page 90" href="https://secure.viewer.zmags.com/publication/19ea4b62?page=90"> Leading APAC Operators: 31-page report King Pow</a>