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New Delhi, June 10, 2006 - The Nuance Group is teaming up with
one of India's leading retailers Shopper's Stop Ltd. (part of the
K. Raheja Corp. - Chandru. L. Raheja Group) in a joint venture designed
to enter the Indian airport retail market. The JV Company will be
equally owned by both partners and plans to offer a comprehensive
range of services, from operating master concessions to distribution
for international brands.
The MoU was signed by the companies' representatives in Hyderabad
today.India, is currently one of the most promising markets as far
as development in airports and its marketing is concerned. This
process is further accelerated by the upcoming privatisation of
several major airports across the country as well as by the fast
expansion of various airline companies in the country. The Nuance
Group has defined India as one of its key strategic expansion areas.
Shopper's Stop Ltd., has built up a strong competence in department
stores and operates 20 Shoppers' Stop stores all over India, which
carry a mix of both national and international brands. The company
has been paramount in bringing to India some of the best names in
fashion and cosmetics. Shopper's Stop Ltd. (a part of K. Raheja
Corp.- C.L. Raheja Group) group company has a 100% subsidiary Crossword,
which sells books, music CDs, stationary, newsprint, toys and games
at 33 locations. K.Raheja Corp- .- C.L. Raheja Group also owns and
operates Inorbit Malls one of the most successful malls in the country
in Malad a suburb of Mumbai.
In early 2006, the K. Raheja Corp. - C.L. Raheja Group has introduced
their value retail concept Hypercity which is the country's largest
hypermarket at 118,000 sq.ft.
Teaming up in a 50/50 joint venture, the two companies offer a
perfect combination in expertise of international airport retailing
and retailing to the Indian customer. The objective of the joint
venture is to offer a wide range of services for Indian airport
retail both on the duty free side and the domestic side as per applicable
regulations, from the operation of master concessions, duty-free,
and food & beverage concessions to the franchise of concepts
developed by Nuance or third parties as well as distribution of
international brands of wine and liquor to hotels and other wholesalers
as may be permitted by Foreign Direct Investment Regulations.
Carlo Bernasconi, EVP Business Development & Strategic Marketing,
The Nuance Group, comments: "The signing of this MoU with Shopper's
Stop Ltd. is a first milestone for The Nuance Group's entry into
the dynamic growth market India. We are convinced that together
we will be able to create a truly unique offer perfectly tailored
to the needs of the customers at Indian airports."
Mr. B.S. Nagesh, MD, Shopper's Stop Ltd., comments: " We believe
with this partnership we will extend our unique shopping experience
to the airports and touch the lives of millions of travelers. This
will also help us create a larger footprint across the country".
The Nuance Group - The Nuance Group (www.thenuancegroup.com) is
the world's leading airport retailer, operating 330 outlets at 59
airports in 17 countries and employing 4 500 personnel. The Nuance
Group is jointly and equally owned by its two Italian shareholders,
GECOS/Gruppo PAM (www.gruppopam.it) and Stefanel (www.stefanel.it).
Shopper's Stop Ltd. - Shoppers' Stop Ltd., is a leader in the Indian
Retail Sector and one of the pioneers in setting up large format
department stores chain in India.
Shopper's Stop Ltd has a national presence, with 950,701 square
feet of retail space and stocks over 200 international and Indian
brands.
India's premier shopping destination with stores in Mumbai, Delhi,
Bangalore, Hyderabad, Jaipur, Pune, Kolkata, Gurgaon, Chennai and
Ghaziabad, Shoppers' Stop is today India's largest retail chain
of department stores. Shoppers' Stop Ltd., is the only Indian member
of IGDS (Intercontinental Group of Departmental stores) along with
29 other experienced retailers from all over the world. Shoppers'
Stop has been awarded Superbrand status 2003-2007 by an independent
Super brands Council comprising of the most eminent professionals
from Marketing and Advertising out of a national list of 711 brands
across 98 categories.
For further details please contact:
Teena Sukheja,
Perfect Relations.com
Ph: 24372172
Email: tsukheja@perfectrelations.com
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