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Flemingo to foray into duty paid retailing

Posted last February 21, 2013, 2:20 am in Stores report article

 

Dubai-based duty free retailer Flemingo is looking at getting into  duty paid stores at the airports and step up presence in diplomatic  supplies business in the country.

The company is looking at  opening stores of travel bags and accessories and coffee bars at the  airports where it has concession agreements, said Amit Butani, Vice  President, diplomatic division, Flemingo.

Flemingo operates its stores in 11 airports including Chennai, Pune, Kolkata, eight seaports and near India-Pakistan border.  

Flemingo’s diplomatic division is looking to tap 30 to 40% of duty free  market in the country for the needs of diplomatic staff in the country.

Under this business, the company sells products at its duty free shops to the members of United Nations, World Bank, embassies.

“There are 145 embassies and 119 consulates in the country, There is a  huge demand from diplomatic missions here. We are already seeing good  growth in the business,” Butani said.

The company is providing both online and offline formats to the diplomatic staff in the country, he said.

Flemingo looks to grow business by 20% in the current financial year on the business of $300 million it made last year.