Shoppers Stop – one of the leading players in the retail segment has shut down its store at Swami Vivekananda Airport in Raipur due to non-renewal of airport store premises agreement, the company informed in a regulatory filing.
During the last financial year (2017-18), sales from the store were Rs 354.8 lakhs, which is 0.08% of the turnover of the company. With this closure, the company has now 83 "Shoppers Stop" stores (including five airport stores) under its operations, it informed in its filing.
Meanwhile, it may be recalled that Airports Authority of India (AAI) has drawn up ambitious plans for creating infrastructure for an international level destination on the city side of Swami Vivekananda Airport.
The project aims to provide a world-class environment in 80 acres of land earmarked for developing various types of infrastructure which will be provided to multiple entities / developers for modular development on 30 year lease or to a single entity under PPP concessional framework for development of the city-side for 30 year lease, they informed.
The AAI believes that development of the city side of the airport would make the region an ‘economic hub’ with exceptional connectivity, officials informed.
The city side development of the airport also envisages setting up of hotels and convention centres with an ‘Airport Commercial District’ which would also include ‘Airport Business District’, and a host of world-class passenger convenience amenities among others.