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

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

Nuance Group was formed as a 50:50 joint venture company between The Nuance Group AG and Shoppers Stop, and operates the duty-free store at Bengaluru International Airport. 

"With the disposal of this shareholding in Nuance Group India by the company to The Nuance