Bengaluru: Fashion retailer Shoppers Stop has said it is 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 businessesbased on their profitability on long-term basis. Hence, we arealso reviewing our airport business," Shoppers Stop Managing Director Govind Shrikhande said here today.
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," he said.
26/03/16 Press Trust of India/Business Standard
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"We are always reviewing all formats, all businessesbased on their profitability on long-term basis. Hence, we arealso reviewing our airport business," Shoppers Stop Managing Director Govind Shrikhande said here today.
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," he said.
26/03/16 Press Trust of India/Business Standard
