Shopper's Stop and Nuance Group AG in JV for airport shopping

09 Mar 2007

1

Mumbai: Indian retailing giant Shopper's Stop Ltd and leading international airport retailer, The Nuance Group AG said Thursday, that they were entering into a joint venture for the purpose of entering the duty free retail market at Indian airports.

The JV will be equally owned and will be named as the Nuance Group (India) Pvt. Ltd The two companies had signed a memorandum of understanding in June last year and had also executed a shareholders agreement recently.

The two companies said that with the joint venture, Indian travelers could now expect to see the launch of international brands and formats at Indian airports.

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