DFS India, which owns and operates Mumbai Duty Free, aims to cut out competition by introducing discounts in a big way. It would create downtown association with brands to provide value to its customers through vouchers and discounts.
Over the past couple of years, discounting pressures have been created in the industry. A customer of ours has a choice of buying from us or from other duty frees. The company revenue is largely from in-bound travel, with close to 67 per cent of the business coming from there. Most of our buyers are Indians and they tend to buy while coming back to the city, says Manishi Sanwal, Managing Director of DFS India.
Sanwal says that with an eye on such consumers, DFS was collaborating with brands to ensure a pipeline of discounts. The company partners include banks, online retailers such as Myntra, even travel booking platform. DFS plans to make this a continuous scheme, he added.
Talking about the industry size the duty-free shop segment in India is valued at around $500 million while globally, it is worth around $60 billion. The company is expected to bring us more customers. As DFS operates 65,000 sq ft space in Mumbai airport with 13 fashion stores, three large duty-free stores and one packaged food outlet.