Nuance Group AG and its Indian JV partner Shoppers’ Stop Limited have been awarded concession to operate retail at Hyderabad International Airport, for which the JV partners are expecting to earn revenue of up to USD 240 million over a period of seven years.
The contract will commence with the launch of the airport in March 2008, and the retail concession is applicable to both the international and domestic terminals. Nuance Group will handle the international terminal and Shoppers’ Stop, the domestic terminal. The two contracts together cover retail space of approximately 28,450 square feet for a duration of seven years.
The retail offer in the international terminal will comprise three stores, covering approx. 25, 000 square feet. One of these stores is approx. 12,770 square feet. Domestic retail will consist of three stores and a total of approx. 3,100 square feet, informs an official release.
Nuance Group president and CEO Roberto Graziani said, “We are highly pleased to have been awarded this seven-year contract to operate at Hyderabad International Airport, which is an important foothold in the Indian subcontinent. India is one of our key markets for future expansion, and with our partner Shoppers’ Stop Ltd and two high-profile contracts won, we are ideally set to benefit from the extraordinary growth potential this market offers.”
The Nuance Group executive vice president – business development and strategic marketing, Carlo Bernasconi, adds, “Winning this significant contract proves that The Nuance Group, in cooperation with Shoppers’ Stop, is ideally equipped to partner modern Indian airports for their retail approach.”
Shoppers’ Stop Ltd MD BS Nagesh explains, “Hyderabad airport awarding the tender to us shows the confidence the airports have in the capability of the joint venture between Nuance and Shoppers’ Stop. We believe our customer-centric approach towards retailing will bring in the best of modern retail at Hyderabad airport, creating a unique shopping experience for the Indian as well as the international traveller.”
T Srinagesh, COO of GMR Hyderabad International Airport Ltd (GHIAL), stated, “Duty-free being a key component of passengers’ experience at the airport, this collaboration will be a key step in the endeavour of GHIAL to establish our airport to international standards.”