Diesel to open new store at Tocumen Airport as it extends LatAm footprint
Panama Business. "Tocumen Airport represents an important stepping stone for increasing the visibility of our travel retail standalone store concept in the Latin American region.", said Michele Turrin, Head of Travel Retail of Diesel
Italian lifestyle brand Diesel has announced that it will open a 62sq m standalone store this August at the North Pier of Tocumen Panama International Airport.
The opening will add to Diesel’s Latin American footprint, which comprises 64 stores in the domestic market including three in Panama. Tocumen Airport will be the brand’s third travel retail location following the two points of sale opened last year at Sao Paulo-Guarulhos International Airport Terminal 3 departures.
The new store design will be based on the brand’s format for its 60sq m stores, Diesel Head of Travel Retail Michele Turrin told The Moodie Report. Product categories to be featured include denim, apparel, accessories, underwear/beachwear and shoes.
Denim represents a significant proportion of Diesel’s sales in travel retail, despite being perceived as “a tough sell” in the airport environment, Turrin noted. “This is a category which is surprisingly selling very well for us at the airport, and because of the customer profile at Tocumen Airport, I am forecasting an even higher percentage of sales to be generated by jeans,” he revealed.
Sales are expected to be boosted by Diesel’s innovative new JoggJeans, which are made from a hybrid fabric with the stretch of jersey and the aesthetic look of denim. Described as ideal for travellers as they allow ease of movement, JoggJeans have been selling very well since its launch, Turrin said, representing 10% of the entire turnover of a Diesel store in travel retail.
“Our underwear collection is one of our bestselling categories by volume,” said Turrin. “At Tocumen Airport, I am also expecting a relatively higher percentage of sales to come from our shoes collection – this is another category that is performing better than expected in our airport stores.”
In spite of the currency fluctuations in some Latin American countries today, Diesel has been able to maintain a sustainable business, Turrin noted. The brand is particularly strong in key markets such as Brazil (where it has 15 stores) and Columbia (22 stores); these two markets make up half of Diesel's domestic network in Latin America.