Home / Knowledge / News / Fashion / Shoppers Stop's duty-free airport venture under review
Shoppers Stop's duty-free airport venture under review
29
Mar '16
Fashion retailer Shoppers Stop has hit an air pocket with duty-free airport shopping. The retailer is now reviewing the joint venture with Nuance Group, under which it had forayed into duty-free airport retailing, as there is not much scope for "cash flow and profitability".

"We are always reviewing all formats, all businesses based on their profitability on long-term basis. Hence, we are also reviewing our airport business," Shoppers Stop Managing Director Govind Shrikhande said in Bengaluru.

Shoppers Stop's Zurich-based JV partner Nuance Group was awarded the duty-free contract for Bengaluru International Airport and Mumbai International Airport (fashion, luxury and lifestyle).

"We believe it is a tough business... We are not completely equipped to handle in full sense because we have been a domestic player, and our domestic operations we understand well... there is not much scope for cash flow and profitability," Shrikhande acknowledged.

Asked about the company's losses in the duty-free airport retail venture, Shrikhande said: "Can't really quantify, but not that large that you have to look at only as an exit path. If you look at our domestic airport operations, they are doing pretty well."

He refused to comment on whether the company is planning to exit the duty-free airport retail business. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search