Shoppers stop cuts stake in Nuance Group

MUMBAI: Lifestyle retail major Shoppers Stop has reduced its holding in Nuance Group Fashion and Luxury. The company said that it has cut its stake from 5 per cent to 0.00035 per cent.

Started in 2006, Nuance, through its joint venture with Shoppers Stop Ltd, has been present in the Indian travel retail market for six years now. The company currently operates duty free shops at the arrival and departure halls at the Bengaluru International Airport. Based out of Bangalore it recently won the Luxury & Lifestyle Concession for Mumbai International Airport.

Shoppers Stop had picked up a stake in Nuance Group in 2016.