Shoppers Stop pulls shutters on airport stores
By Sujata Sachdeva
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Shoppers Stop has closed ‘Crossword’ stores at Bengaluru domestic terminal
and Jaipur International Airport and the Shoppers Stop store at T3, Delhi
International Airport, the company said in a filing to the Bombay Stock
Exchange. Following this, the company now operates 71 Shoppers Stop and 95
Crossword stores.
While Shoppers Stop has shut its stores at the airports; on the contrary, airports in Indian metros are emerging as the hottest retail spaces for brands. In fact, for some labels like Fabindia, their stores at airports are best performing outlets compared to other stores at other locations in the cities.
As per research the Centre for Asia-Pacific Aviation (CAPA), duty-free spend at Indian airports is expected to reach 1.6 billion dollars (over Rs 10,000 crores) by 2021, witnessing an eight-fold increase in a decade and the combined spend on duty-free, duty-paid and food & beverage will reach 3.5 billion dollars (over Rs 22,000 crores).