Indiantelevision.com Team

(4 April 2007 8:00 pm)

MUMBAI: The Nuance Group AG and its Indian JV partner Shopper's Stop Limited have been awarded the concession to operate retail at the Hyderabad International Airport, for which the JV partners are expecting to earn revenue of upto USD 240 million over the period of seven years.

The retail offer in the international terminal will comprise a total of three stores, covering approx. 25, 000 sq ft. One of these stores is approx. 12,770 sq ft arrival store. Domestic retail will consist of three stores and a total of approx. 3,100 sq ft., informs an official release.

The Nuance Group president and CEO Roberto Graziani said, "We are highly pleased to have been awarded this seven-year contract to operate at Hyderabad International Airport, which is an important foothold on the Indian sub-continent. India is one of our key markets for future expansion, and with our partner Shopper's Stop Ltd. and two high-profile contracts won we are ideally set to benefit from the extraordinary growth potential this market offers."

The Nuance Group executive vice president business development and strategic Marketing Carlo Bernasconi adds, "Winning this significant contract proves that The Nuance Group, in cooperation with Shoppers' Stop, is ideally equipped to partner modern Indian airports for their retail approach."

Shoppers' Stop Ltd. MD B S Nagesh explains, "Hyderabad airport awarding the tender to us shows the confidence the airports have in the capability of the joint venture between Nuance and Shopper's Stop. We believe our customer centric approach towards retailing will bring in the best of modern retail at Hyderabad airport creating a unique shopping experience for the Indian as well as the international traveller."