INTERNATIONAL. Duty Free Americas, the largest travel retailer in the Americas and a division of the family-operated Falic Group, has struck a new global joint venture with Mumbai Travel Retail Private Limited (Ospree), a subsidiary of Adani Airport Holdings Limited.
The collaboration will initially focus on Europe, with Duty Free Americas launching into the rail travel retail channel operating Le Marché Duty Free at the Eurotunnel French Terminal in Coquelles, near Calais. The initial phase of the new joint venture will focus on developing a 1,000sq m customer experience area, said the partners.
The joint venture “signifies a strategic move to leverage synergies and capitalise on the burgeoning European travel retail market,” they added.
Under the partnership, the Coquelles store will occupy about 800sq m of duty-free space in the Passenger Terminal building and about 75sq m in the goods terminal, catering to the duty-free requirements of HGV drivers for the first time.
The launch of the Le Marché duty free store at Eurotunnel is timely, they added given the robust growth projections of the European travel retail sector.
Adani Airport Holdings Limited Non-Aero CEO Harshad Jain said: “This strategic partnership with Duty Free Americas marks a significant milestone for Mumbai Travel Retail Private Limited (Ospree) as we venture into the global arena. By combining our expertise with Duty Free Americas’ extensive experience, we are poised to deliver unparalleled value to travellers. Europe is a promising travel retail destination, and with this venture, we are just underlining the impending growth and expansion for Mumbai Travel Retail Private Limited (Ospree).”
Duty Free Americas President Leon Falic stated, “Collaborating with Mumbai Travel Retail Private Limited (Ospree), a leading player in Indian travel retail, aligns with our goals to continue expansion into key international markets. We are committed to providing exceptional customer experiences, and together with the scale and expertise of this partnership, we look forward to upscaling the standards of travel retail in Europe and beyond.”
