Shoppers’ Stop and Nuance Group AG have formed a joint venture to bid for contracts to set up duty-free retail outlets in Indian airports. BS Nagesh, MD, Shoppers’ Stop, said, “The company’s foray into airport retailing will be ‘an extension of the unique shopping experience to airports’.”
“It is the inward-bound passengers that we are targeting in India,” Roberto Graziani, CEO, Nuance Group AG, added from his side. Nuance, with an annual turnover of $1.7 billion, has a presence in 17 countries with 340 shops across 57 airports. The group operates in a range of categories including cosmetics, liquor, and chocolates, as well as specialty stores like food and beverage outlets.
In the airport retailing space, India has come to be recognized as a strong growth potential market, with a projected annual passenger growth of 10.4 per cent.