Nuance-Shoppers' Stop to operate Intl retail at Bangalore Airport
30 Nov '06
3 min read
The Nuance Group, in a joint venture with leading Indian retailer Shoppers' Stop, will start to operate at Bangalore Airport in April 2008. This is the first concession in India to be operated by The Nuance Group, who has defined India as one of its key strategic markets for expansion.
Bangalore Airport has awarded the concession to operate retail at both the international and domestic terminals to the consortia between the two companies.
The international retail will be managed by a joint venture company by The Nuance Group AG and Shoppers' Stop Ltd, whereas Shoppers' Stop will handle retail in the domestic part, supported by The Nuance Group through a technical management agreement.
The two contracts together cover retail space of appr. 3'200 sqm and are valid for 5 years. Overall, the concessions' value amounts to USD 150 million.
Bangalore Airport is India's fourth biggest airport and also the one with the highest growth rate. It is privately owned. By April 2006, Bangalore Airport handled 7 mio. passengers on an annual basis, out of which 1 million travelled internationally. For 2008, the airport expects passenger numbers to amount to nearly 15 million.
The retail offer in the international terminal will comprise a total of five stores, covering 2'000 sqm. One of these stores is a 450 sqm arrival store. Domestic retail will equally consist of five stores and a total of 1'400 sqm.
Roberto Graziani, President & CEO, The Nuance Group, declares: “We are highly pleased to have been awarded the contract to operate at Bangalore International Airport, which serves a fast growing and increasingly important business location. The Nuance Group has defined India as key strategic market for future expansion."
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