LS Travel Retail North America has acquired the assets of Saveria USA Inc., the predominant specialty retail operator at John F. Kennedy International’s (JFK) Terminal 4.
Saveria USA, Inc. was founded by the Sardana family, who will partner with LS Travel Retail in a new JFK Terminal 4 venture. Saveria USA is at the start of a 10-year contract with terminal operator JFKIAT. Terminal 4 is the only non-airline, privately operated terminal in the U.S. and is home to 28 airlines.
“There’s no shortage of good reasons to have something like this realized,” says Gerry Savaria, president and CEO of LS Travel Retail North America. “JFK Terminal 4 is a very important terminal. It’s arguably one of the best terminals for concessionaires to do business in the U.S. It will have close to 20 million passengers this year. It’s got a nice mix of international and domestic with about 60 [percent] to 65 percent international. It’s a key hub for Delta [Air Lines] in New York. And Terminal 4 has room to grow.
“In addition to that, the terminal is private,” Savaria adds. “It’s operated by a subsidiary of Schiphol USA, and we’re a close partner with Schiphol in Amsterdam, as well.
The new joint venture will operate 20,000 square feet of specialty retail space within the terminal’s retail lounge. Terminal 4 features a host of internationally recognized retail brands. Some of the 17 existing LS/Sardana shops include Tumi, Longchamp, Hugo Boss, Swarovski, Bijoux Terner, and Chocolate and More.
LS Travel Retail plans to redevelop an additional 9,000 square feet into new specialty retail shops that will complement the existing offerings at Terminal 4.
Savaria says plans for the additional space include new Guess and Juicy Couture shops, which are slated to open within the next few weeks. The new joint venture will also add LS Travel Retail proprietary brands including The Scoreboard, which offers sports apparel, accessories and gifts; Fashion Place, a multi-brand fashion and fashion accessories shop; and So Chocolates.
