SOUTH KOREA. The country’s biggest airline, Korean Air, is projecting full-year sales of US$168 million.
Korean Air has long been the world’s most successful inflight retailer.
This year’s sales have been dominated by cosmetics, which will generate an impressive US$60 million in business, over a third of total revenue.
The growth of health supplements and wellbeing products, is another standout. This sector now accounts for 12% of business or US$20 million in sales.
Korean Air has enjoyed a stellar year, posting a record quarterly operating profit in the three months to September of KW447.6 billion, up +35% year-on-year.
The airline has benefited from booming Chinese visitor numbers (South Korea’s total international passenger traffic rose +12.4% year-on-year in October and by +20.2% in the first ten months).
Note: Look out for an extensive South Korean market report, written by Martin Moodie, in The Moodie Davitt Report Print Edition, out in early 2017.