Process Air-Porter

A I R – P O RT E R

C a r m e n M a r ia Ponc e | Se ni or Caps tone |Winter 2019

A I R – P O RT E R Travel Retail Premier Luxury Destination

The world’s premiere online luxury fashion destination.

Offering incredible fashion from over 800 of the world’s most coveted designer brands.

AGENDA Executi v e S um m a r y

Ma r ke t ing Ma t e r ia l

M i ssi on, V i si o n & Co re Va lue s

O r ga niza t io na l Cha r t

Industr y & Tre nds

S WOT A na ly s is

Pr i mar y Re s e a rch

S t ra t egie s a nd Ta ct ics

S er vi ce F unct io n

F ina ncia l Pla n

M ar ket S t ra t egy

S us t a ina bilit y

Economi cs of t he B us ine s s

O ut co m e s

E X E C U T I V E S U M M A RY

N E T- A - P O RT E R - Was lau nc hed in 2000 and has established itself as the wor ld’s premiere luxur y destination .

- Deliver s the ultimate curation of product and content through its websites , shopping apps and the wor ld of Por ter providing a seamless shopping exper ience .

- Express worldwide shipping to more than 170 countr ies (inc luding one day shipping deliver y to Manhattan, London, and Hong Kong).

- I s par t of the Yoox Net-A-Por ter group, following the mer ger of Yoox group with Net-A-Por ter group in October 2015.

- Has an investment of 95% from The Ric hemont Group (YNAP)

ECOSYSTEM Small Banks

Large Banks

Fashion House

Financial Institutions

Net-A-Porter Designers

Independet Designers

Credit Card Companies

Transportation Logistics

Fashion Houses

Airtrain

On Airport Bus

Independent Designers

Email Services

Users

Microsoft

Browsers Verizone

Investors

Celular Services

Pro Contractors Finance Software Development

AT&T

Services Customer Care

People Artifacts Other

Google Vodafone

Buyers

Organizations

Yahoo

Competitive online luxury

Buying

EE

Support Moda Operandi

Personal Shopping Distribution

Studio Farfetch Mytheresa

ShopBop

N AT A L I E M A S S E N E T FOUNDER

W H AT T H E Y B E L I E V E I N

- Net- A - Po r ter fo u n d e r Natalie Mas s en e t rev o lu tio n ized lu xu r y reta il b ac k in 2 0 0 0.

- In 20 15 , sh e le f t th e c o mp an y an d now sh e se r ve s as a No n - E xec u tiv e Co - Ch a irma n at Fa rfetc h .

- In 2 0 18 sh e c o - fo u n d ed Ima gin a r y Ventures , a ve n tu r e c ap ital f ir m, with Nic k Br own .

- Bo r n in th e U n ite d State s , sh e s tudied E n glish Litera tu re a t U CLA , and sh e wo r ke d as Isa b ella B low’s a ssista n t a t Ta tler.

B e t h e be st Le ad n o t fo llow E x c e e d ex p e c t at io n Sm ar t an d St y lish Se r v ic e st ar t s w it h y o u r se lf

B U S I N E S S S T R AT E G Y STRATEGIC DIRECTION - The company plans to growth its business , selling products from other 350 designer s , guaranteeing new customer s while providing cre dibility to the brand value .

INTERNET STRATEGY - Net-A-Por ter’s online presence consists of innovative platforms imperative to its success .

- The company is dependent on its social media c hannels and customer ser vice teams to provide around the clock guidance and help with customer purchases and per sonal shopping .

COMPETITORS - Farfetc h, a Br itish-based retailer stocks high-end apparel, footwear and accessor ies from 400 independent fashion boutiques around the wor ld.

- Farfetch’s business model is commission-based, whic h benefits their smaller boutique par tner s by being their largest income source . Its main point of distincti on is its “lab” labels , which tend to be emer ging brands .

- Mytheresa is a Ger man based online shopping destination, with a single storefront owned by Neiman Marcus group.

- Se lfr idges is a tr usted UK competitor with rapidly evolving online c hannels .

B U S I N E S S O P P O RT U N I T Y Air- Por t e r enhanc es t ravel ing within the reta il a nd duty free r e alm by cr e a t i n g a u ni que Net-A -Porter exper ience in the airpor t, th r o u gh a co m p e l l i n g ret ai l spac e . Cus tomer s ca n s hop in the s tore a nd p r e o r d e r o n lin e i t e m s b e fo r e t hei r flig ht , obta ining duty free pr ices on their p u r c h ase . Clie n ts ca n a l s o s h op for exc lusi ve items a t the s tore . A wider var iety o f p r o d u c ts will b e o f fe r e d online t han i n t he s tore .

T h e r e w i l l b e t w o m ain aspects : - A p re - order ing ser vi c e where cus tomer s ca n purchas e the me r c h an d ise b e fo r e t h ei r flig ht and have it del i vered to thei r gate.

- M o s t o f the merc handi se offered will be excl usi ve to the a ir p o r t sto re .

CORE VALUES

MISSION

R ev o l u t ioni ze t ravel ret a il by offer ing

VISION Beco me th e wo r ld ’s p r e mie r e

w o m e n a l l over t he wor ld a convenient

fas hion trave l r e tail se r vic e by

l u x u r y fashion dest ination.

creat in g ex c lu sive sto r e s an d ex p e r ie n c e s in air p o r ts .

USER-CENTERED DESIGN

MULTICULTURALISM & DIVERSITY

INNOVATION

ENTREPRENEURIAL SPIRIT

PASSION

I N S P I R AT I O N

BUSINESS MODEL Key Partners

Key Activities

Independent Designers

Pre-Order

Media Entertainment

Gate Delivery

NY JFK Airport (leaser)

Customization

TOGA

Delivery to Airport Key Resources

Value Proposition Promoting Net-A-Porter through the creation of a physical store in JFK airport. While offering travelers curated products through a pre-ordering and on-the-go service. Taking the customer through an immersive experience.

Customer Relationships

Customer Segments

Personal Shopping

Net-A-Porter customers

Updating new product merchandise

Airport Passengers Independent Designers

Channels

Selected Terminal

Travel Booking Ads

Retail Space

Magazine Ads

F2F employees (sales associates + delivery)

Payment on NAP platform

Merchandise

Product delivery on gate (pre-boarding)

Cost Structure

Revenue Streams

Advertising

Store Installation

Sales + Upsales

Retail Space (lease)

Overhead (employees)

Visibility (non monetary)

Sublet (independent designers)

I N D U S T RY & T R E N D S

N Y C J F K A I R P O RT T h e New Yo r k J o h n F. Ke n n e d y I n t e r n a t i o n a l A i r p o r t w i l l h a v e a n u p co m i n g tra n sfo rma ti o n i n i t i a t i n g i n 2 0 2 0 a n d ex p e ct e d t o b e co m p l e t e d by 2 0 2 5 .

T h e aim is to m o d e r n i ze t h e a i r p o r t i n f ra s t r u ct u r e t o i n co r p o ra t e t h e l a t e s t t e c h n o l og i ca l i n n ov a t i o n s a n d a m e n i t i e s .

Six th b u sie s t a i r p o r t i n t h e US w i t h ov e r 5 9 m i l l i o n p a s s e n ge r s by 2 0 1 6 ( FA A ) a n d s e r v i n g 3 2 . 4 m i l l i o n i n t e r n a t i o n a l p a s s e n ge r s .

C u r r e n t l y 8 5 a i r l i n e s o p e ra t e i n t h e a i r p o r t 5 1 . 7 % o f t h e t ra v e l e r s a re fe m a l e New Yo r k C i t y i s o n e o f t h e b i g ge s t fa s h i o n ca p i t a l s i n t h e w o r l d .

D i v e r s i t y a m o n g t ra v e l e r s .

KH L Magazin e by An d y Brow n

NYC JFK COMPETITORS - Du ty Free A mer ic a s , l e a d i n g t ra v e l re t a i l e r i n t h e w e s t e r n h e m i s p h e r e o f fe r i n g a se le c tio n o f f ragran c es , co s m e t i cs , w i n e s , l u x u r y l e a t h e r g o o d s , wa t ch e s , j ew e l r y a n d o t h e r t ra v e l e s s e n t i a l s ( h i g h - e n d p r o d u ct s a t co m p e t i t i v e p r i ce s ) .

- DFS gro u p is th e l e a d i n g l u x u r y t ra v e l r e t a i l e r. O f fe r s cu s t o m e r s p r o d u ct s f r o m ove r 7 0 0 b ran d s th r o u g h 4 2 0 b o u t i q u e s o n fo u r co n t i n e n t s . I t s n e t w o r k co n s i s t s o f d u t y f r e e s t o r e s l o ca t e d i n 1 1 m a j o r g l o b a l a i r p o r t s .

- A l l N ew Yo r k J F K re t a i l e r s a r e i n d i r e ct co m p e t i t o r s t o A ir- Po r t e r b e ca u s e i t i s w h e r e t ra v e l e r s d e ci d e t o s p e n d t h e i r t i m e b e fo r e t h e i r f l i g h t .

$$$$$

HIGH ACCESSIBILITY

LOW ACCESSIBILITY

PERCEPTUAL MAP

$$

GLOBAL TRENDS GLOB AL LUXURY TRENDS - C usto m e r s are lo o kin g fo r c ons c i ou s c ons um p t i on - B y 2030 it is ex p e ct e d t o i n c r ea s e t o 8 8 m i l l i on h i g h - e nd luxur y c o ns umer s .

- St rong d e m a n d fo r luxur y e x p e r i e n c e s , s uc h a s f i n e d i n i ng, luxur y ho lida ys and spa trea t m e n t s as a n a l t er na t i v e t o b u y i ng p r od u c t s .

- Luxur y co m p a n ie s w ill n eed t o go b e y on d t h e i r c om for t zo ne in te r ms o f co nsum e r in t e ract io n a s w el l a s i nv es t i n g m or e on s oc i a l jus tic e , the e nv iro nm ent , a n d t o t al t ra ns p a r enc y.

- D igital int e rfa ce s in ex p e r i en t i a l s et t i n g s a r e l ur i n g c ons ume r s bac k to phy sica l shop s .

So urce: E ur o m o n it io r

TRENDS TRAVEL RETAIL - A irpo r t tra vel r etai l i s ex pected to r each 9 1 .7 5 billion by 2 0 2 5 ( by Gran d V i ew R esear ch ) .

- P ro duc ts , pe rf umes and cosmetics seg men t h el d a si g n i fi can t sh ar e of th e mar ket i n 2 0 17 . .

- I nc re a s ing number of international traveler s acr oss th e g l obe i s ex pected to boost the market g rowth .

- The perfume and cosmetics seg men t i s an ti ci pated to h ave a g rowth rate of 9 .9 % fol l owed by fashion & accessor ies .

- E as ily trans po r table , offer ed as a g i ft, h i g h - en d accessor i es ar e pr odu cts th at wor k beau ti fu l l y wi th travel r etai l .

- Millennials find i t easi er to con n ect wi th lux ur y products i n a duty-f ree store th an i n a tradi ti on al bou ti q u e .

Sou r ce: Gran d V i ew R esear ch , December 2 0 18

TRENDS E-COMMERCE TRENDS - E nhance s h o p p in g s p a ce s a r e b ei ng i m p l em en t ed a c r oss the wo r ld’ s bigge s t ai rpo r ts .

- W hen trave le r s a r e at t h e a i r p or t t hey ha v e l ot s of t i m e to s pe nd, the y a re re ally attract e d by r e t a il o f fer i ng w hi l e wa i t i ng for t hei r f lights .

- A ppare l a n d a cce s s o r ie s r et a i l e- c om m er c e i n t h e U. S. is pro je c te d to g e ne rate ov e r 1 3 8 . 7 billio n U. S. d ol l a r s i n r ev en u e by 2 0 2 2 (A c c o rding to St atista).

- O nline sale s co n t in u e t o g r ow a c r os s a l l m a j or d ev el op e d ma r ke ts , e s pe c ia lly t he U S, w here lu x u r y o n line s a l es a r e now a l m os t t w i c e the s ize o f the s e c o nd l ar gest onlin e m a r ke t , Ch ina - 6 3% o f fem ale co n s u m e r s i n t h e U S a r e not l i kel y t o p u rc ha s e o nline ex c lusiv e fa s h io n in 201 7 ( Ac c or d i ng t o St a t i s t a ) .

TA R G E T M A R K E T The majority of Net-A-Porter customers are within the United States, Japan and United Kingdom.

As the world premiere luxury retailer, Net-A-Porter inspires women with the latest runway looks from the seasons more sought-after collections.

Women between 33 years old 99% are female 53% are married/living with a partner 33% have a children

Occupation CEO, senior executive, lawyer, medical practitioner, media or fashion director Average annual household income $170,000 Average annual spend in luxury fashion $13,400 College graduate Fashion forward women Looking for convenience and ease Heavy social media users Go on vacation an average of 11.5 times per year

P R I M A RY R E S E A R C H

Interviewee Profile 1

Veronica the Adventurous Artist Age: 22 Nationality:Tegucigalpa, Honduras Residence: Savannah, GA Bio: Current SCAD Student, Majoring in Motion Media Income: $200,000

1. Can you walk me through a day when you buy a Net-A-Porter product until it arrives to your home?

So the day I buy something at Net-A- Porter basically I don’t buy it right away, I Browse through what they have and their website and I add a lot of things the card but then when I go back to my cart and delete the things that I think I don’t want, need or that are too expensive or whatever sometimes I go to Porter because I have something specific I want to buy. I buy it there because I know it’s the brand it’s legit and the service is really good and I know it’s very trustworthy and the website is very easy to use. And has a lot of brands so I know that it seems looking for something specific they have a high chance of having it. I purchase it probably like a day after having the things in the a cart because I like to think if I need it and then I buy it and I just wait for it to arrive at my door when it supposed to arrive and then I open it.

2.What do you like most about Net-A-Porter that you can’t find in any other stores What I like about Net-A-Porter is that you have high luxury brands, but also you have like medium luxuries, there’s like a range of products to come by so I like that there’s like really nice jewelry that is expensive like you can see for inspiration but you can also see some cheaper stuff that you can afford especially in a college budget. I also like that they create collections of different brands, styles and trends so you can browse through it and see what is in style what is a new this season so it makes it really easy to know that what you’re buying is not only a good friend and I like a very good product. And that the quality is going to be better than what you would buy another like it’s cheaper and more lowend brands so even though it’s more of an investment it’s the more long-term so you buy something that is going to last you for a while.

3. If they would have a brick an mortar or pop up store, how do you envision it to be?

If they would have a pop-up store I would think of it that they would have a selection of articles either beauty perfumes and also like coats shoes jeans pants that you wouldn’t normally see it on the store rack. Summa did to me you like very neat simple yet with pops of color very fun but at the same time modern and to have like a very professional ambiance but also the people would be very nice when they would attend you.

4. Usually which products do you tend to buy from Net-A-Porter I usually tend to buy shoes and jewelry because again I know that it’s good quality and the brands are up to date with the latest trends and also what I like about at a net a porter is that the quality is insured.

5. Do you like the variety of emerging designers they carry I specifically like that they carry brands that you wouldn’t normally see on stores or website so you discover brands and I think that makes you more aware of other trends, but also other designers and other places that might have like a very fresh and new take on items in fashion so I specifically like that as well that there is a new brands to pick and I guess instead of Porter has very good quality I would assume that a lot of the new brands even though there are new they are actually good products.

6.When you are buying a product that you have never try before are you afraid it will not be as in the photo? Or the way as they showcase the product is as it arrives?

I think that on other websites I would be afraid of how the item would turn off of the fabric won’t be as good or the material will be as good but Net-A- Porter since they carry very good brand so I wouldn’t be so apprehensive Of how the product is going to turn out I would be more pretensive of the fit of either a shirt or a pant because my body type is different than other girls so I would just be hoping that it would fit nicely but also since the brands are very good most of the times they do fit nicely because they are tailored to fit better in all types of bodies.

7. If they would have a store in the NY JFK airport would you pre order products? So when you arrive they would have ready for pickup?

If they had a pop-up store in the New York airport I would have like to pre-order but I would have to be notified beforehand either on the plane or when I get to the airport that there should be ads or something to let me know that is an option I would pre-order stuff I would preferred to either likes small items like make up or jewelry since they’re just easier to carry and if it’s clothes I would prefer to be like a shirt or blouse that something that’s very easy to carry through the airport I wouldn’t order like a dress or a coat since it’s heavier so I would expect it to have more small or lightweight items and also things that are appropriate for the weather at that time either winter so I could wear them once I get to New York.

Persona Profile 2

Kate the Shopping Lover Age: 23 Nationality: Monterrey, Mexico Residence: Dallas,TX Bio: Graduate Interior Design Income: $220,000

Relationship with the brand: She loves Net-A-Porter because she always find pieces that she can’t find anywhere else. Also the effectiveness of the service when she needs an emergency outfit for her business meeting. The price is not a concern for her and she purchases more beauty and jewelry pieces that are more align with her budget.

Attitudes: affluent, high society circle, fashion lover, travels for business and pleasure.

Design, ease and convenience services is very important to her.

Lifestyle: She is immerse in her social and work life. She is married and likes to spend time with her husband on the weekends. They tend to visit places where their friends attend or to chic restaurants. Loves shopping and trying new products and brands.

Needs & Motivation: She needs to feel confident and professional. She wants to have always trendy pieces from designer label or that are on trend at that moment.

Consumption Behavior: Purchases classic statement pieces from luxury brands. She dresses in a very stylish way and owns a large accessories collection that helps her style all her outfits. Wears warm and cool tones to showcase professionalism.

Connection Moments: As she travels frequently because of business is driven towards omnichannel brands. She often shops in travel retail because of ease and convenience.

Prefers to experience the brands both in a physical and online platforms.

IDENTITY AMERICAN

TRAVEL FREQUENCY INTERNATIONAL

CAREER STUDENT

+8 TIMES A YEAR

+14 TIMES A YEAR

REASON PROFESSIONAL

EASINESS

QUALITY

Attitudes to the Product: She is a frequent shopper and likes to always attend to the social events when press is always is present. She shops in high end stores such as Neiman Marcus, Saks Fifth Avenue, and as well likes to shop in online platforms such as Net-A-Porter, ShopBop and others.

Media & Marketing activities usage and attitudes: She is a highly user of social media especially instagram where she finds the latest fashion trends. She uploads photos of her trips and interior spaces she is obsessed with. Usually, she does buys through an Ipad or cellphone.

Consumer relationships and attitudes to key competitors: She is loyal to her top brands: Chanel, Louis Vuitton, Moda Operandi, Dior and others. She likes too buy from independent designers who are already know in the market such as Danse Lente, Cuyana, Mansur Gavriel, Del Pozo and Silvia Tcherassi. She appreciates Latin American brands because of her roots and Net-A-Porter allows her to have a wide variety of brands from around the world to complement her style.

Gender

Age

vacation

S U RV E Y S

Female Male

18-24 25-35 36-45 46-60 60+

How often do you travel to NY

Shop at airpor t retailer

Reason for traveling

Average waiting time on gate

vacation once a year more than once a year don’t fly there very often every three years

studies home meetings/work layovers vacation/studies/home

sometimes

1-2 hours

never

3-4 hours

L i ke t o s h o p a t D u t y F r e e

See more var iety of brands

Willingness to tr y new brands

Interested in Air-Por ter

yes no sometimes don’t know what it is never seen it

yes

definitely

definitely

no

maybe

maybe

SERVICE FUNCTION

Customer will receive the products when pre boarding their flight.

AIR - PORTER

Receive products on gate before the flight.

- Duty Free - Convenience - Exclusive products Most of the products will be from independent designers

Amount paid for preordering the products and having the easiness and effectiveness when traveling abroad.

Getting advantage of the duty free costs.

“It’s about creating true experiences, enhancing the product in a way we haven’t seen, and creating ambiance.”

Art has the power to create emotional connections in brick and mortar stores that can’t be matched online.

Virgil Abloh

“Pay with credit card or pay-pal”

“Pay with credit card or pay-pal”

main entrance

USER JOURNEY MAP TRAVEL CONSIDERATION Decision to travel

Travel Booking

Browse the app

TRAVELING OUT At Airport Departure

In Flight

AT THE DESTINATION Arrival at destination

At Airport Return

RETURNING HOME

In Flight

At Airport (Arriving Home)

Share experience with friends

EXPERIENCE

FEELING

THINKING

DOING

Day dreaming considering traveling

TRAVEL PREPARATION

Plans business meeting with her associte partners in New York

Deciding all the travel details for her trip

Selecting the days she is going to travel for her business meetings

View Air-Porter add when booking flight

Dreaming Concerned

Convenience Enjoyability Enrichment

Decisive Concerned

Decisive Concerned

Pre-order products from the app

Commute

Browses Air-Porter app to see if there is any thing she might need for trip

Her driver picks her up from her house and takes her to the airport

Pre-orders items for her meetings

Excited Inquisitive

Convenience

Convenience

Convenience

Enjoyability

Enjoyability

Enjoyability

Enrichment

Enrichment

Enrichment

Stressed Rushed

Convenience Enjoyability Enrichment

Rate the service

Receive products at gate Products are deliver at her gate before pre-boarding

Arrives at London with her items ready to use it and as a gift for some of her friends and collegues

Flys out to London for her meeting

She is happy about the ease and convenience of the store

Relieved Relax

Convenience Enjoyability Enrichment

Returns to airport and flys back home

Excited Attentive

Convenience

Convenience

Enrichment

Arrives home after a long flight but happy about her travel experience

Chats with her friends about Air-Porter and mentions her extraordinary experience

I for sure will use this service each time I travel to another country

Anticipatory Rushed

Enjoyability

She is exhausted but happy about her business meeting

Enjoyability Enrichment

Exhausted Hungry

Convenience Enjoyability Enrichment

Relaxed Satisfied Enriched

Convenience Enjoyability Enrichment

Talkative Connected

Convenience Enjoyability Enrichment

VALUE PROPOSITION

Value Proposition Designers Gain Creators •Providing a platform and space to promote their brand

lue Va

•Wider market reach •Increasing brand value and visibility

•Enhancing a environment to clients offering ease and convenience

•Global market •Fashion capital •High commissions

n

•Increasing brand awareness at a global audience

itio

os

op Pr

•Providing a unique brand experience

Gains •Reach new clients •Good brand perception •Worth of mouth •Positive client suggestions •Customer loyalty

•High profit •Client Satisfaction

Pain Relievers •Reach a global market •Incentivising customer to purchase the new products •Alleviating the need to invest in a physical store

•Ease and effectiveness

Jobs •Find clients •Partner with platforms to reach a wider target market •Design curated products according to the store or platform

Pains

•Engage customers by creating unique experiences

•Times it takes to be a known brand and recognize in the market

•Find strategic alliances to promote the brand and to be widely known •Create a relationship with the customer (community)

•High investment money/time •Competitive market •Constant product creation and design

•Constantly evolving industr y

Value Proposition Travelers Gain Creators •Providing a platform and space to purchase no tax products

e

lu Va

•Time and effectiveness

•Exclusive products with no tax

•No tax / duty free

•Ser vice deliver y (ease and effectiveness)

•Ease

•Global designers and brands at hand

•Latest fashion products

•Customer loyalty

•Satisfaction

n

•Offering a platform where they can purchase or see before hand what products they desire with a Duty Free price

•Providing the platform to preorder products of their desire

itio

os

op Pr •Enhancing the travel retail experiences in airports

Gains Jobs •Travel for business meetings •Get to the airport easily •Purchase gifts for meetings

Pain Relievers

Pains •Airport costumes

•Time and effectiveness •Variety of products and brands (exclusive)

•Same product offering within the duty free

•Constantly new product offering

•Time

•Alleviating the need to purchase gifts

•Lack of fashion and latest trend products

•Ease and effectiveness

•Find adequate flights within their hectic schedule •Use time effectively and wisely

Optimal intersection of behaviour and experience

ACCESSIBILITY

QUALITY OF INTERACTION

- Restricted number of days to preorder the products.

- Pre odering is online

- Must be an international travel to attain the service

- Easy access to the platform and customer service

- Just offer to New York JFK international airport

- Communication between buyers and us is done both face to face and online

-Exclusives products restricted to the rules of the NY goverment - Internet access required

-Easy connection from Net-A-Porter to designers

CUSTOMER PARTICIPATION - Buyer preorders online

SERVICE EXPERIENCE

CUSTOMER EXPERIENCE

- Customer tries products in the store - Delivers the order to the designated gate

PRE-ORDER - Must be leaving the United States at least for 48 hours - Customers must take the items with them to their international destination - Take advantage of cost savings with Tax Free shopping available to customers traveling to foreign destinations.

How To Shop Duty Free Online - Customers can order online up to 7 days before travel date.

- All in-store promotions, price discounts, and gifts with purchase apply.

-No more stressful, last-minute shopping before your flight

1. Click enter your travel information and we will offer curated products depending on the destination you are traveling to (online platform may have additional items that are not available in the store).

2. Once you confirm your purchase and enter payment information, Air-Porter will be notified to pack the order and prepare for delivery as the clients exists the country.

As well, clients have the option to pick up in the store and see the item physically before purchasing.

Benefits

How to Shop 9% 1

2

3

4

Enjoy tax free prices

Select your prefer delivery gate delivery or pickup at the store

Pay with credit card or pay-pal

9%

30

DAYS

30

DAYS

30

DAYS

Tax & Duty-Free Prices Prices Save Time Tax & Duty-Free Tax & Duty-Free Prices Save Time Save Enjoy tax free prices SaveTime time and shop 30 days in

30 DAYS Shop 30 days in advance and up to 24 hours before your flight

9%

Store shop Store shop Store shop Air-Porter shop will be located at

Enjoy tax free prices Air-Porter shop will be located at Saveintime and shop 30 days in Air-Porter shop will be located Save timeadvance and shop 30updays terminal 1 but gateatdelivery is and to 24 hours before terminal advance and up to 24 hours before terminal 1 but gate delivery is 1 but gate delivery is advance and up to 24 hours before offer for all international flights the flight with ease and convenience. the flight with ease and convenience. offer for all international offer flightsfor all international flights the flight with ease and convenience.

Collect your purchase from your selected point of collection

Exclusive Deals Online Payment Gift Shop Exclusive Payment Gift Giftand Shop Exclusive products both online Deals ShopPayment online and inOnline store with credit Purchase gifts for your friends Exclusive Deals Online Shop Exclusive products both online Shop online and in store with credit Purchase gifts for your friends and

and on both the physical Wincredit airline miles for familyforand yourand cart list with Exclusive products online platform will Shop online card and or in paypal. store with Purchase gifts yourshare friends and on the physical platform will card or paypal.

Win airline miles for family and share be only availablewillat Air-Porter card or paypal. Win airline favorite picksyour cart list with and on the physical platform for family and them share and yoursee carttheir list with each miles purchase. be only available at Air-Porter them and see their favorite picks each purchase. them and see their favorite picks be only available at Air-Porter each purchase.

M A R K E T I N G S T R AT E G Y

PLACE AIR-PORTER will be located at the JFK International Airport in the new Terminal One Terminal One Group Association (TOGA) a consortium between Lufthansa, Japan Airlines, Air France and Korea Airlines is in charge of the renovation of “The new Terminal One” what is now Terminal 1, Terminal 2 and the site of the former Terminal 3 – with 23 new gates (potentially increasing to 27).

High international traffic / Sixth busiest airport within the USA, set to accommodate a total of 59.4 million passengers IN 2017 being this 32.5 million international passengers. It increase 2.4% from 2016 New York #1 leading getaway and international hub to the USA JFK’s $10bn infrastructure improvement/renovation will accommodate 75m passengers by 2030 and 100m by 2050.

Curbed Magazine New York | Federal Aviation Administration | Metropolitan Airport News

PEOPLE Demographics

Women

Young women with an average age of 18 to 38 years old $170,000 average annual household income Single or Married Global outreach (all nationalities due to its location)

Psyc ho-graphics Travels frequently for business and leisure Tech-savvy and spend heavily on technology High appreciation for art Aware of the latest trends and styles Values quality and designer products Values easiness and convenience Appreciates emerging designers equally as established designers/fashion houses Constantly searching for unique and on trend products Values experience and high end service etiquette

TA R G E T C U S TO M E R Kate the Art Lover Age: 28 Nationality: London, UK Residence: Paris, France Bio: Owner of her Interior Design firm in France Income: $190,000

Attitudes: affluent, high society circle, art lover, passionate, fashion and beauty advisor, peculiar taste, confident, likes to spend long hours in her computer developing media work.

Visual communication is very important to her.

Lifestyle: She is immerse in her social, work and cultural life. She hangs out at her friends houses and also on trendy restaurants and bars. Very curious about emerging artists, travels constantly for pleasure and to visit her family.

Needs & Motivation: She needs to feel confident and on trend. She wants to always have unique pieces from independent designers and as well from the big fashion houses.

Consumption Behavior: Purchases innovative statement pieces from luxury brands. She dresses in a very artistic way and owns a large make up collection that helps her explore her creative side. Wears mostly black and warm tones to showcase her youth.

Connection Moments: As she travels frequently and is driven towards omnichannel brands.

She often shops in travel retail because of the duty free and ease. Prefers to experience the brands both in a physical and online platforms.

Gigi the Business Women Age: 32 Nationality: New York, US Residence: New York, NY Bio: Executive Lawyer at Sullivan & Cromwell LLP Income: $220,000

Attitudes: affluent, jet set, fashion lover, travels for business and pleasure.

Lifestyle: Has a hectic life style due to her work but she loves it. She is married and likes to spend time with her husband on the weekends. They tend to visit places where their friends attend or to chic restaurants. Loves shopping and trying new products and brands.

Needs & Motivation: She needs to feel confident and professional. She wants to have always trendy pieces from designer label or that are on trend at that moment.

Consumption Behavior: Purchases classic statement pieces from luxury brands. She dresses in a very stylish and professional way. Owns a large accessories collection that helps her style all her outfits. Wears cool tones to showcase professionalism.

Connection Moments: As she travels frequently because of business she is driven towards omnichannel brands. Often shops in travel retail because of ease and convenience. Prefers to experience the brands both in a physical and online platforms.

PRODUCT - AIR-PORTER will offer in store four product categories in-store: Accessories, Beauty & Fragrances, Handbags and Jewelry.

- Most of the products will be from independent designers who aim to reach a wider audience and have there products showcase physical space.

- Main independent designers will be featured such as Sensi Studio, Danse Lente, Pop and Suki, Ratio et Motus, Low Classic, Heir Atelier, Spinelli Kilcollin, Prager Skincare, Revive, TL-180, Martin Katz, L’AFSHAR, Wald Berlin, Lack of color, Chylak.

- AIR-PORTER will offer exclusive products from fashion houses - The merchandise online offer will carry more product categories due that there is no need of store space.

- Merchandise will change every three months

PRICE - Our main pricing strategy is to set a competitive price point with other travel luxury retailers at New York JFK. It will encourage consumers to try our products and to experience with different brands.

- We will be maintaining a competitive price throughout the merchandise.

No Tax / Duty Free We will set the price range respectively: Accessories (price range from $10 up to $1,000) Beauty & Fragrances (price range from $8 up to $2,500) Handbags (price range from $75 up to $3,000) Jewelry (price range from $40 up to $6,000)

- This prices were set based on the target market, place and airport regulations.

P R I C I N G A N A LY S I S DUTY FREE T GALERIA (Direct Competition) - DFS Group is the world’s leading luxury travel retailer, owned by LVMH. Established in Hong Kong in 1960, continues to be a pioneer in global luxury travel retail, offering its customers a curated selection of products from over 700 of the most desired brands through 420 boutiques on four continents. The stores are located in 11 major global airports and 20 downtown T Galleria locations.

Handbags ($96 up to $2,100) Beauty & Fragrances ($5 up to $1,230) Jewelry ($56 up to $5,960) Accessories ($32 up to $740)

P R O M OT I O N - The service will be advertised through different media platforms such as magazines, travel booking, Net-A-Porter platform, social media, and airlines media coverage.

- The primary communication tool will be through social media, Net-A-Porter platform (which includes Porter Magazine, The Edit and the app) and premium airlines media.

- Air-Porter will have a high coverage on press releases in order to communicate the new service offer at New York JFK airport.

- Videos will be a key feature for advertising in order to explain the customer the process of pre-ordering and picking up in store.

TRAVEL BOOKING ADS (Online) - Expedia, Kayak, Airbnb, Momondo, JET SETTER, Luxury Retreats, Skyscanner MAGAZINES - V Magazine, Architectural Digest, Allure, Wmag, Travel Leisure, NYTimes Style, Departures Magazine, Tatler, Financial Times and others. (Online or Printed), Wired

https://www.fttoolkit.com/d/audience/consumer.php

REVENUE STREAMS Air-Porter key revenue streams come from: a pre-ordering service offer to travelers (which accounts 30% of the sales from stock, sales + upsales generated at the store and the physical space building customer relationship and brand visibility.

ECONOMICS OF THE BUSINESS

ering

rd Pre-O

Sales + Upsales

Bran

d Vis

ibilit

y

P R O D U C T S H O OT S

M A R K E T I N G M AT E R I A L

Social Media Platforms

FACEBOOK

TWITTER

YOUTUBE

INSTAGRAM

PINTEREST

GOOGLE

1.6 Million followers

846K followers

251K subscribers

3.4 Million followers

305K followers

762K followers

Home

Notifications

Tweet

Messages

Tweets

Following

123

Tweets

Air-Porter

@netaporter Follows you

Preorder now the latest travel pieces for your next trip. Up to 24hrs before your flight. If you don’t have time to visit the store we can deliver it to you at your gate. airporter.com

Followers

789

Tweets & replies

Likes

Following

10

Media

Air-Porter @airporter · Jan 1 Pre-order NOW at https://airporter.com/ #exclusive #deals #2025

Who to follow • Refresh • View all Followed by Glam Ink and others

WPCrumbs @WPCrumbs Follow

Followed by Glam Ink and others

Glam Ink @TheGlamInk Air-Porter @airporter · Jan 20 Free Twitter Mockup 2017 https://airporter.com/ #jewelry #2025

Joined January 2020 Tweet to

456

Follow

Followed by Glam Ink and others

Freebies Cafe @Freebies..

Message

Follow

Find people you know

Trends • Change #Freebies

39K Tweets

#FreeSocialMediaMockups2017 24.9K Tweets

Air-Porter Exclusives 2025 · Pre-order NOW

#TwitterMockup2017

Air-Porter now has exclusive jewelry from independent designers from all around the world. You can pre-order items and save time at the airport. airporter.com

#FreebiesCafe

Air-Porter @airporter· Feb 10 Exclusive designer jewelry at https://airporter.com/ #exclusive #designer #jewelry #2025

17.2K Tweets 8K Tweets

© 2017 Twitter About Help Center Terms Privacy policy Cookies Ads info

Sales Associate Responsible of greeting customers, responding to questions, improving engagement with merchandise and providing outstanding customer service

Service Delivery

Store Manager

In charge of packaging merchandise and delivering to the selected boarding gate of the customer.

Responsible of ensuring their staff give great customer service as well as monitoring the financial performance of the store

STORE

RA TIO

EM

EN

NS

ORGANIZATIONAL CHART

M A N AG

O R G A N I Z AT I O N A L C H A RT

Design Manager Responsible of managing design or graphics teams and departments.

Often collaborate on projects, delegate tasks and check for quality and consistency.

T

OP

Interior Design Make interior spaces functional, safe, and beautiful by determining space requirements and selecting decorative items, such as colors, lighting, and materials.

E

Senior Manager In charge of employees and the facilities they work for. Plan and promote the daily schedule of employees and the business, and coordinate all events.

IT / UX Gathering and evaluating user requirements, in collaboration with product managers and engineers.

Developing websites and apps.

CEO Developing high quality business strategies and plans ensuring their alignment with short-term and long-term objectives.

Logistics Responsible for coordinating the storage, transportation and delivery of goods. Oversee and liaise with colleagues to ensure stock is maintained and moved efficiently.

Physical store experience High foot traffic Brand value and experiences Wide and diverse target market Customer relationship Location Travelers waiting time

Strengths

S W OT A N A LY S I S

Expensive rental space On demand and constantly changing merchandise Customs restrictions and regulations Short window time

Opportunities

Weaknesses Threats

Developing market Travel retail fast growth Strategic Alliances with Airlines High Brand Visibility Captive audience Limited product returns

Delivery logistics Limited time Airport delays Currency exchange High rent

P A RT N E R S H I P S Terminal One Group Association (TOGA) - A consortium between Lufthansa Airlines, Japan Airlines, Korea Airlines, and Air France. Air-Porter will have a strategic partnership to promote and communicate the service to travelers when purchasing there travel tickets they will receive a message of AIR-PORTER pre-ordering service. Encouraging travelers to pre-order merchandise and obtain a dutyfree price in their purchase.

S T R AT E G I E S & TA C T I C S

TOGA is a New York-based limited partnership of four international airlines: Air France, Japan Airlines, Korean Air and Lufthansa. TOGA was initially formed in 1994 and entered into a long-term Site Lease with the Port Authority of New York & New Jersey to finance, construct, maintain and operate a new passenger terminal facility at JFK, now known as Terminal One. The Terminal is home to the four TOGA Airlines plus19 other international airlines and is on pace to process approximately 7.7 million passengers to over 38 nonstop international destinations in 2018.

Global Eagle – Is the leading worldwide provider of in-flight entertainment, media content, technology and connectivity solutions to the airline industry. It supplies digital content to 220 airlines worldwide. The strategic partnership will be done to communicate and promote the service to domestic and international travelers.

NYC Independent Designers - Air-Porter will partner with independent designers from New York City to create a unique installation space where travelers can experience more about the culture and art of the city.

https://www.globaleagleadvertising.com/partner-network/

PARTNERSHIPS

- Communicate and promote the service through the airlines’ entertainment platform.

- Target to domestic and International travelers.

- Communicate Service to travelers - Advertise after they shop their tickets - Commission based

NYC Designers - Collaborate with local New York City artists to showcase their pieces in the store.

FINANCIAL PLAN

SALES FORECAST 2025

PRODUCT CATEGORY

COST (markup 60%)

RETAIL

UNITS ON HAND

AVERAGE STOCK (retail x units on hand)

PROFIT AND LOSS 2025 INVENTORY TURN (annually) (4 times a year)

PLANNED SALES (inventory turn x average stock)

Accessories

$ 202.00 $ 505.00

210 $ 106,050.00

4.00 $ 424,200.00

Beauty & Fragrances

$ 501.60 $ 1,254.00

322 $ 403,788.00

4.00 $ 1,615,152.00

Bags

$ 615.00 $ 1,537.50

280 $ 430,500.00

4.00 $ 1,722,000.00

Jewelry

$ 1,208.00 $ 3,020.00

119 $ 359,380.00

4.00 $ 1,437,520.00

Total

$ 2,526.60 $ 6,316.50

931 $ 1,299,718.00

SALES FROM STOCK E-COMMERCE SALES

$ 5,198,872.00 $ 1,559,661.60

TOTAL SALES

$ 6,758,533.60

NET SALES GROSS MARGIN PROFIT (45%) OPERATING EXPENSES (33%)

$ 6,758,533.60 $ 3,041,340.12 $ 2,976,585.13

OPERATIONAL EXPENSES PAYROLL LEASE EXPENSE DEPRECIATION OTHER TOTAL OPERATIONAL EXPENSES

$ 675,853.36 $ 1,800,000.00 $ 540,682.69 $ 337,926.68 $ 2,475,853.36

OPERATING PROFIT

$ 64,755.00

OPERATIONAL COSTS JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

COSTS

Depreciation

$ 540,682.69

Rent

$ 1,800,000.00

Sales Associates

$ 120,000.00

Manager

$ 60,000.00

Service Delivery

$ 299,853.36

IT

$ 80,000.00

Interior Designers

$ 30,000.00

Architects

PROMOTIONAL EXPENSES PRE-LAUNCH JANUARY

FEBRUARY

LAUNCH MARCH

APRIL

MAY

JUNE

POST-LAUNCH JULY

AGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

COSTS

Social Media

$ 372,000.00

Website/App

$ 20,000.00

$ 40,000.00

Magazine

$ 300,000.00

Designers

$ 40,000.00

Online Advertising

$ 120,000.00

Taxes and Licenses

$ 4,000.00

Press Release

$ 8,000.00

Legal Permits

$ 2,000.00

Launch Party

$ 60,000.00

Miscellaneous

$ 337,926.68

TOTAL OPERATIONAL COST

$ 3,354,462.73

TOTAL COST

$ 880,000.00

Marketing and Promotional costs will be cover by Yoox Net-A-Porter the mother company of Air-Porter.

S U S TA I N A B I L I T Y

AIR-PORTER Sustainability Process

Sustainable Raw Materials

Sustainable Supply Chain

Delivering Products / Carbon Net Zero

Minimizing Packaging

Transportation of Merchandise

A I R - P O RT E R S U S T A I N A B I L I T Y AIR-PORTER aims to be a sustainable company by focusing on a set of regulations and policies across the entire supply chain.

1. For each percentage of carbon footprint, Air Porter will invest in green land.

2. We will establish regulations and policies for each of our suppliers and partners that will identify with our values as a company.

3. We will minimize packaging waste when transporting the merchandise from a warehouse to a store.

4. We aim to implement 30% of our total transit in eco-transportation such as electric cars.

- AIR-PORTER aims to become at least a 50% sustainable company by 2030.

User

Conscious Consumption

Transportation Logistics

CRITIC AL RISKS & PROBLEMS

On time delivery to gate Late and canceled flights Seamless experience both online and off-line not achieved Sales forecast not achieved Small designated space for the store

DATE

ACTION

01//09/2019 Project Ideation and Concept 1/14/19 Project Planification and Calendar 1/17/19 Collaboration Plan 1/19/19 Secondary Research 1/22/19 Secondary Research

T I M E & AC T I O N C ALENDAR

1/28/19 Secondary Research 2/1/19 Collaboration Meeting 2/6/19 Initial Inspiration Boards 2/8/19 Store Location and Blueprints 2/14/19 Photoshoot Inspiration and location research 2/16/19 Creative Collaboration for Photoshoot 2/19/19 Business Plan 2/23/19 Photoshoot Day 2/25/19 Initial Store Renderings 2/27/19 Process Book Information Gathering 2/28/19 Initial Presentation Drafts 3/2/19 Final Store Renderings 3/4/19 Final Process Book and Presentation 3/6/19 Capstone Presentation Day

OUTCOMES

Last But Not Least During the development of this project, I learn extensively. I gained a deep understanding of Net-A-Porter, as a company at the forefront of the fashion industry. I truly dedicated my time to understand the company, customer and the potential market to develop a business opportunity.

I must say that finding the right value proposition for each customer was challenging at first but after analyzing and researching the proposal came into place. The development of the business itself was exciting because of the different ways it could be approached. I believe that I choose the right target market for the selected location and product category.

Net-A-Porter is an impressive company that has various opportunities spaces to be developed — founded with strong values that keep the company growing and being an e-commerce leader in fashion luxury.

While I was doing this project, I realized the importance of always pursuing your ideas with backup research that can sustain the concept and make it a real opportunity as Natalie Massenet did with Net-A-Porter, by changing the fashion retailing forever.

CREDITS

MEET THE TEAM

Carmen Maria Ponce Project Manager / Creative Director

Julia Llaguno Photographer

Nicole Betances Styling Directors

Nayelin Delgadillo Model

Camile Von Simson Model

Julie Kim Interior Designer

SOURCES “10 Largest Airports with Longest U.S. Customs Wait Times.” TravelSkills, 8 Mar. 2016, travelskills.com/2016/03/08/arrivals-face-longest- customs-waits-at-jfk-sfo/.

Barton, Simon. “Strategy In Fashion at Net-A-Porter | Articles | Strategy.” Articles | Innovation | Innovation Enterprise, 1 Sept. 2016, channels.theinnovationenterprise.com/articles/59-strategy-in-fashion-at-net-a-porter.

Bühler, Peter, et al. “Pdf.” Bibliothek Der Mediengestaltung, 2018, doi:10.1007/978-3-662-54615-4.

Davis, Don, et al. “Luxury e Retailer Net A Porter Doubles down on Editorial Content.” Digital Commerce 360, Digital Commerce 360

| Internet Retailer, 24 Feb. 2018, www.digitalcommerce360.com/2018/02/22/luxury-e-retailer-net-porter-introduces-daily- editorial-content/.

Kagan, Julia. “Duty Free.” Investopedia, Investopedia, 14 Jan. 2019, www.investopedia.com/terms/d/duty-free.asp.

License, New Media Drivers. “NET-A-PORTER.COM DIGITAL STRATEGY.” Boston Red Sox - Digital Strategy | New Media Drivers

License Seminars, newmediadl.cas.msu.edu/example-work/posts/96812.

Loesche, Dyfed, and Felix Richter. “Infographic: Where Do International Visitors to New York City Come From?” Statista, Statista, 14 Feb.

2017, www.statista.com/chart/8074/international-visitors-to-nyc-2015/.

“Monthly Summaries of Airport Activities.” Port Authority of New York & New Jersey, www.panynj.gov/airports/traffic-statistics.html.

Duty Free Americas, www.dutyfreeamericas.com/corporate/about-us/.

Musariri, Dorothy, and Dorothy Musariri. “Retail Innovation: Six Major Brands Changing the Way We Shop in-Store.” Compelo - Latest

News, Features and Insight on Influencers and Innovators within Business, Compelo Energy, 24 July 2018, www.compelo.com/retail- innovation/.

“Figure 2f from: Irimia R, Gottschling M (2016) Taxonomic Revision of Rochefortia Sw. (Ehretiaceae, Boraginales). Biodiversity Data

Journal 4: e7720. Https://Doi.org/10.3897/BDJ.4.e7720.” doi:10.3897/bdj.4.e7720.figure2f.

“Natalie Massenetis One of the 500 People Shaping the Global Fashion Industry.” The Business of Fashion, The Business of Fashion, 5 Sept.

2018, www.businessoffashion.com/community/people/natalie-massenet.

Fitzmaurice, Rosie. “We Tried out an Exclusive Luxury Personal Shopping Service Usually Reserved for Superrich Clients - Here’s What

It Was Like.” Business Insider, Business Insider, 8 Nov. 2017, www.businessinsider.com/luxury-personal-shopping-to-the-superrich- 2017-11?r=UK&IR=T.

“Net-a-Porter.” The Business of Fashion, The Business of Fashion, www.businessoffashion.com/articles/tags/organisations/net-a-porter.

Garbarine, Rachelle. “Commercial Property/Queens; Retail Space Being Filled at New Kennedy Terminal.” The New York Times, The

New York Times, 21 July 2002, www.nytimes.com/2002/07/21/realestate/commercial-property-queens-retail-space-being-filled-at- new-kennedy-terminal.html?mtrref=www.google.com.

Net-A-Porter. “Fashion Media Pack.” Net-A-Porter, 2017.

Gilliland, Nikki, and Nikki Gilliland. “Four Things Brands Can Learn about Content Marketing from Net-A-Porter – Econsultancy.”

Econsultancy, 24 Aug. 2016, econsultancy.com/four-things-brands-can-learn-about-content-marketing-from-net-a-porter/.

“New York State Sales and Use Tax.” NYC, Workers’ Compensation Board, www1.nyc.gov/site/finance/taxes/business-nys-sales-tax.page.

Net-A-Porter. NET-A-PORTER, www.net-a-porter.com/us/en/.

“New York - John F. Kennedy International Airport.” FAA Seal, 10 Sept. 2018, www.faa.gov/nextgen/snapshots/airport/?locationId=34.

“Home.” DFS | T Galleria, www.dfs.com/en/new-york/about-dfs.

“News Release.” McDonald’s Announces Growth Plan for China Following Completion of Strategic Partnership with CITIC and Carlyle | The Carlyle Group, www.carlyle.com/media-room/news-release-archive/terminal-one-welcomes-port-authority-decision-redevelop-jfk.

Josephs, Leslie. “Kuala Lumpur to Singapore Tops the List of the World’s Busiest International Flight Routes.” CNBC, CNBC, 5 May 2018, www.cnbc.com/2018/05/05/kuala-lumpur-to-singapore-is-worlds-busiest-international-air-route.html.

Orkiv Retail Solutions. “The Most Innovative Retail Store Ideas You Can Implement Starting Today.” Medium.com, Medium, 2 May 2017, medium.com/thinkfuture/the-most-innovative-retail-store-ideas-you-can-implement-starting-today-2d2af5d2ed57.

“Port Authority Airports Set Record With 66.5 Million Passengers In First Half of 2018 - Metro Airport News.” Metropolitan Airport News, 8 Aug. 2018, metroairportnews.com/port-authority-airports-set-record-with-66-5-million-passengers-in-first-half-of-2018/.

Roberts, Fflur. “Global Luxury Goods Overview.” Euromonitor, Mar. 2017.

Streissguth, Tom. “How Much Does Magazine Advertising Cost?” Bizfluent, 11 Feb. 2019, bizfluent.com/info-7889859-much-magazine- advertising-cost.html.

The Port Authority of New York and New Jersey, NYC & Co., 2016 Nielsen/Scarborough Research Corp.VNU,

https://www.jcdecauxna.com/sites/default/files/assets/airport/documents/property/3_pager_jfk.pdf The Port Authority of NY & NJ. “Airport Traffic Report.” Port Authority of New York and New Jersey, 2017.

“Travel Retail : a New Showcase for Luxury.” Strategist, 24 July 2018, strategist.global/en/travel-retail-la-nouvelle-vitrine-du-luxe/.

“Travel Retail Market Size Worth $128.8 Billion By 2025 | CAGR: 8.7%.” Personalized Medicine Market Analysis By Product And

Segment Forecasts To 2022, www.grandviewresearch.com/press-release/global-travel-retail-market.

Warerkar, Tanay. “New Looks at JFK Airport’s Forthcoming $13B Overhaul.” Curbed NY, Curbed NY, 4 Oct. 2018, ny.curbed. com/2018/10/4/17937028/jfk-airport-renovation-expansion-nyc-cuomo-renderings.

Walters, Nicole. “How Much Does It Cost to Start a Boutique?” ShopKeep, ShopKeep, 14 Feb. 2019, www.shopkeep.com/blog/how- much-does-it-cost-to-start-a-retail-store#step-1.

“What Is Duty Free & Travel Retail? | Duty Free World Council.” DFWC, dfworldcouncil.com/what-is-duty-free-travel-retail/.