KOCHI: To strengthen the growth potential of the retail duty-free business, CIAL Duty-Free and Retail Services Ltd (CDRSL ), a fully owned subsidiary of Cochin International Airport Ltd (CIAL) announces a slew of measures which includes the incorporation of a pre-ordering facility for the international passengers.
A meeting of the board of directors of CDRSL held on Tuesday also identified multiple revenue streams for ensuring sustainable revenue growth. CDRSL is working on a plan to integrate the pre-ordering facility with the existing Cochin Duty-Free portal (www.cochindutyfree.com) so that the international passengers who are planning to travel to Kochi can select a duty-free item displayed at the portal and reserve it. The item will be delivered on arrival and billing take place at the CDF shop complying with all customs procedures. The meeting of the board of directors of CDRSL has decided to appoint S Suhas IAS, managing director of CIAL as the executive chairman of CDRSL. Suhas has said that the management is planning to tap the potential of airport retail business by foraying into new ventures.
“The board of directors has decided to bring in some financial restructuring into the Duty-Free business. We are going to avail Buyers Credit facility to meet the short-term foreign currency denominated payments of duty-free procurements, which is expected to bring down the cost of short-term funding by another 3%,” said Suhas.
Apart from the pre-ordering facility, CDRSL plans to introduce the booking facility from October 2021. The tourist passengers moving out of India for short trips can also avail of the booking facility at the departure shop. It will ensure that they can book all discounts and avail of quick delivery while returning to India.
Kerala heritage products to sell in departure shop
A Kerala Corner offering Kerala’s heritage products, crafts, tastes of Kerala and souvenirs will be introduced in the Departure side Dutyfree shop. "It was also decided to take cosmetics and perfume to the next level by opening an exclusive corner shop facility and induct new brands of fragrances and cosmetics," the release said.