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Duty free retailer Nuance forms JV with Shoppers Stop

RBR Staff Writer Published 11 June 2012

Nuance, a Zurich-based airport duty-free retailer, has entered into a joint venture (JV) agreement with Indian department store chain Shoppers Stop to operate duty-free shop at Bangalore International Airport.

Nuance India country head Anirban Chowdhury told The Economic Times that the travel retail business in the country has grown at 25-30% per annum.

"There has also been a huge increase in the number of inbound and outbound travellers through major airports in the country. The introduction of low-cost airlines to new destinations has added to air traffic, in turn, benefiting the travel retail sector," he added.

Chowdhury believes that India and China will power the growth of world travel retail trade in the near future, reported the newspaper.

Delhi and Mumbai are at the front position of travel retail business, followed by Bangalore and Kochi. Cochin International Airport duty-free's turnover, at present, is close to INR1bn ($18m).

Shoppers Stop is promoted by the K Raheja Corp Group (Chandru L Raheja Group).

Nuance operates around 370 outlets across 58 airports in 19 countries.