Hoverspeed gets $30m buying boost

Print Article E-Mail Article

Fast ferry operator Hoverspeed is taking over full control of its main Hoverport store in Calais, which was previously operated in joint venture with partner Ghesquiers. The move takes effect on December 1.

Hoverspeed head of retail services and fragrance buying Stuart Rourke told TRW it would add £20m ($30m) a year to Hoverspeed's buying strength. "It will really boost our purchasing power. Previously Ghesquiers did all the buying themselves. Now we plan to launch different promotions, get travel packs in and build the business. It's a great opportunity for us."

Hoverspeed will expand the 15,000sq ft (1,394sq m) store in the coming months.
The restructured Hoverspeed buying team is visiting Cannes and looking to build on its growing categories of toys, gifts, fragrances and wine. The operator has just signed a deal with sister company, railway operator GNER to buy wine for the group, adding further strength to its buying power, said Rourke.