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In a move to strengthen the growth potential of the retail duty free business, CIAL Duty Free and Retail Services Ltd (CDRSL), a fully owned subsidiary of Cochin International Airport Ltd (CIAL) announced a slew of measures which includes the incorporation of pre-ordering facility for international passengers.
A meeting of the board of directors of CDRSL held on Tuesday identified multiple revenue streams for ensuring a sustainable revenue growth. CDRSL is working on a plan to integrate the pre ordering facility with the existing Cochin Duty Free portal so that international passenger who are planning to travel to Kochi can select a duty-free item displayed at the portal and reserve it. The item will be delivered on arrival and billing will take place at the CDF shop complying all customs procedures.
The meeting of the Board of Directors of CDRSL has decided to appoint S.Suhas, Managing Director of CIAL, as the Executive Chairman of CDRSL.
Also see: Cochin International Airport chalks out plans to activate revenue streams
Suhas said that management is planning to tap the potential of airport retail business by foraying into new ventures. “The Board of Directors has decided to bring in some financial restructuring into the duty-free business. We are going to avail buyers credit facility to meet the short-term foreign currency denominated payments of duty-free procurements, which is expected to bring down the cost of short-term funding by another 3 per cent”, he said.
A Kerala corner shop offering the state's heritage products, crafts, tastes of Kerala and souvenirs will be introduced in the departure side duty-free shop. Similarly, an exclusive corner shop with new brands of perfumes and cosmetics will also be opened.
Apart from pre-ordering facilities, CDRSL plans to introduce advance booking from October. Tourist passengers moving out of India for short trips can also avail the advance booking facility at the departure shop. This will ensure that they can use all discounts and avail quick delivery while returning to India.
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