Lagardère Travel Retail expands Coindrum service to Venice Marco Polo Airport

ITALY. Coindrum, operator of an innovative concept that allows passengers to convert unwanted coins into higher-value airport retail vouchers, has launched at Venice Marco Polo Airport with Lagardère Travel Retail.

Irish company Coindrum aims to address the inconvenience and waste of leftover coins while also driving spend to retailer tills. The service saw rapid growth in 2016, adding six new countries to its footprint in the latter half of the year.

Venice is a major tourist destination and Marco Polo Airport is Italy’s fifth-busiest airport. It is Coindrum’s second Italian airport location, following the brand’s recent launch at Milan Malpensa Airport with market leader Dufry.


[Click on the YouTube icon to see how Coindrum works]

Lagardère Travel Retail has already partnered with Coindrum at Belfast International Airport, joining other retail partners Dufry, Heinemann, Aer Rianta International, International Duty Free and Lojas Francas de Portugal in adopting the service.

As one of the world’s largest duty free operators, Lagardère represents a key partner in Coindrum’s further growth ambitions, the company said.

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Coindrum CEO Lukas Decker (left) celebrates the agreement with Lagardère Travel Retail Operations Manager in Venice Matteo Micelli

Lagardère Travel Retail Rome Duty Free and Luxury Operations Director Bruno Bouchacourt commented: “Lagardère Travel Retail is always keen to explore new customer innovations such as Coindrum and we believe passengers will be happy with this innovative service and the value it creates”.

During the launch ceremony Lagardère Operations Manager in Venice Matteo Micelli added: “Aelia Duty Free welcomes the Coindrum Service in Venice. As a major destination for many non-European tourists, the Coindrum innovation has great appeal to our passengers and in return helps optimise our sales performance.”

Coindrum CEO Lukas Decker said: “Coindrum is fast becoming a brand that passengers recognise to offer a convenience service that essentially buys their coins for more than they are worth. It’s an unbeatable value proposition that also offers a category growth opportunity to airport retail.”

Coindrum’s shareholders include Declan Ryan, co-founder and ex CEO of Ryanair; the Irish Government; and other leading European investors including the founders of Hostelworld and CarTrawler.

*Note: All vouchers issued by Coindrum are worth 110% of the coins deposited as an extra incentive to use the service. Coindrum claimed that for the company’s installations to date passengers have outspent their vouchers by a multiple of ten at the tills, providing an attractive revenue growth opportunity for the retailer.

Coindrum claims that passengers are outspending their vouchers by a multiple of ten at the tills
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