Shoppers Stop has decided to exit the joint venture (JV) with Swiss major Nuance Group for duty-free airport stores. The company will exit the JV in the next two-quarters and it has already taken a total impairment of Rs 27 crore for it.
Shoppers Stop entered the partnership with Nuance Group AG in 2006 and has stores in Mumbai and Bengaluru airports.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.
