Lojas Francas de Portugal is ranked number one in the commercial field among the 500 biggest & best companies in Portugal. The conclusion was reached by Exame magazine, based on a series of indicators and economic and financial ratios, with which the profile of the main companies in their respective fields are traced. According to the magazine, the purpose of this study is to measure the performance and dynamism of each company, and its contribution to national wealth.
LFP was created in 1995 as a joint venture between TAP (PortugalвЂ™s leading airline) holding 51 per cent and The Nuance Group (leading airport retailers in the world) holding 49 per cent. The company leads the retail sector in Portuguese airports, managing and operating 18 establishments in the Lisbon, Porto, Faro, Ponta Delgada, Santa Maria and Horta airports. LFP also controls the onboard sales for TAP and STP Airways flights.
LFPвЂ™s activities are presented in the 2009 special edition of вЂњEXAME вЂ“ 500 Biggest & BestвЂќ, highlighting the companyвЂ™s good results, which can be traced back to the вЂњintroduction of various measures to stir the commercial waters, and optimise and increase efficiencyвЂќ, making way for growth in the region of 20 per cent in 2008, вЂњa year marked by a negative economic trendвЂќ.
Nuno Amaral, CEO for LFP, explains that the commitment of the companyвЂ™s employees was instrumental in obtaining these results. At the same time, вЂњplans to improve internal efficiency and productivity and to reduce costsвЂќ were also implemented. Exame magazine goes on to describe LFPвЂ™s work promoting higher efficiency in terms of negotiations with suppliers, an increase in investment in marketing and the development of a curriculum for internal training aimed at the needs of the client. The effort to revamp the companyвЂ™s image and shops, the opening of new venues and investment in new flows of passengers is also underlined.
2008 saw the launching of LFPвЂ™s new brand, aimed at three different sectors: Just for Travellers вЂњYour journey starts hereвЂќ for the main shops (traditionally referred to as Duty Free); Just Taste Portugal, for areas dedicated to the best that Portugal has to offer (regional products); and Just Luxury for fashion and luxury items.
LFP had already been named leading company in the retail sector, relative to turnover per sales area (in square meters) and per employee, in 2008 by the Portuguese Association of Retail Distributors.