Travel retail declined 28% organically, and it continues to shrink as a percentage of our business towards the low teens.

May 1, 2025 / CEO / receipt, needs a key / Stéphane Delafabrie, CEO | earnings call 2025-05-01 | transcript dd6506e5-c509-4b9e-aa9b-0da25ea2d0c1 | chars 2760-2881 | segment 2