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Shoppers Stop to exit airport retail

Shoppers Stop said it had disposed of 40% shareholding in Nuance Group India to The Nuance Group AG of Switzerland

Raghavendra Kamath  |  Mumbai 

Shoppers Stop
Shoppers Stop

A day after selling HyperCity, Raheja-owned said it would exit from the duty-free business. It said it had disposed of 40 per cent shareholding in Nuance Group India to of Switzerland for a consideration of Rs 6 crore. 

Nuance Group was formed as a 50:50 joint venture company between and Shoppers Stop, and operates the duty-free store at  


"With the disposal of this shareholding in Nuance Group India by the company to The Nuance Group AG, the shareholders’ agreement with them stands terminated with immediate effect and, accordingly, the company has exited the duty-free busines," said. This deal comes after sold HyperCity and five per cent to Amazon.


First Published: Sat, October 07 2017. 01:28 IST
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