Hyderabad, June 9
The Nuance Group is teaming up with retailer Shoppers' Stop Ltd. (part of the K. Raheja Corp. - Chandru. L. Raheja Group) in a joint venture to enter the Indian airport retail market.
The joint venture company will be equally owned by both partners and plans to offer a comprehensive range of services, from operating master concessions to distribution for international brands.
A memorandum of understanding (MoU) to this effect was signed by the companies' representatives in Hyderabad on Friday, according to a press release.
The Nuance Group is the world's leading airport retailer, operating 330 outlets at 59 airports in 17 countries and employing 4,500 personnelThe NuanceGroup has defined India as one of its key strategic expansion areas and its Executive VP Business Development & Strategic Marketing, Mr Carlo Bernasconi, said, "Together we will be able to create a truly unique offer perfectly tailored to the needs of the customers at Indian airports."
The Shoppers' Stop Ltd MD, Mr. B.S. Nagesh, said, "We believe, with this partnership, we will extend our unique shopping experience to the airports and touch the lives of millions of travellers."