LAYAM Opens Souvenir Store at Ben Gurion Airport
LAYAM's new souvenir store in Ben Gurion airport's Terminal 3 has opened after undergoing extensive renovation and enhancement. NIS 1.5 million was invested in the overall renovation.
Teddy Sagi Group's LAYAM won the Israel Airport Authority tender to manage and operate the souvenir and gift store in Terminal 3, and replaced Steimatzky, which had operated the store until now. According to the terms of the tender, LAYAM has signed a six-year operating agreement with an option to extend it for two additional years. Forecast for revenue over the period of operations is estimated at about NIS 160 million.
LAYAM CEO Shay Tangi said: "It is our intention to bring a new range of products to the souvenir store at Ben Gurion airport, which is usually the last stop for passengers traveling abroad before they board the plane. There will be a diverse range of the latest gifts and souvenirs best suited to the preferences of foreign tourists and Israeli travelers. We believe that by offering relevant Israeli items, we can help them remember their experiences and spread Israel's good name."
The renovated store covers 100 square meters and joins the other stores that LAYAM operates at Ben Gurion airport, including a 450 square meters toy store and a 100 square meter children's fashion store. The Group also manages a 70 square meters toy store in Terminal 1. Outside of the airport, LAYAM is responsible for managing the duty free store for diplomats in Tel Aviv, duty free stores for passenger cruise ships at Ashdod Port and Haifa port as well as alcohol, tobacco, perfume, and cosmetics VAT exempt sales to various organizations including airlines, UN forces and commercial bodies.
At Ben Gurion airport, LAYAM operates toy stores in Terminal 3 and Terminal 1 as well as a children's fashion store in Terminal 3. The 300 square meters toy store in Terminal 3 is considered the world's largest toy store operating in a duty free zone. The toy stores offer a rich range of products including Lego, Playmobil, and LOL with exclusive models that cannot be obtained elsewhere in Israel. The children's fashion store offers a unique range of sports and fashion brands such as: Nike, Adidas, New Balance, Tommy Hilfiger, Levi's, and more.
LAYAM bid for the tender out of a desire to expand its duty free operations, in particular due to the continuing rise in incoming and outgoing tourism to and from Israel. In 2018, 9.1 million passengers travelled abroad from Terminal 3, a rise of 6% compared with 2017 and a rise of 21% compared with 2016.
As part of its maritime operations, LAYAM provides equipment and goods to ships anchoring at Israel's ports and is one of the most important suppliers in this sector in the entire Mediterranean region. The company competes with similar companies operating in the Mediterranean, mainly in ports in Cyprus, Greece and Turkey.
Published by Globes, Israel business news - en.globes.co.il - on February 17, 2020
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