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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

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