Karnataka: Bangalore International Airport Limited (BIAL), the operator of Bengaluru's Kempegowda International Airport (BLR Airport), has announced the launch of a highly anticipated tender for a joint venture partner to establish, operate, maintain, and manage duty-free stores at the airport's upcoming new Terminal 2.
Because of the contract's structure, it's one of the most exciting airport commercial prospects in recent memory.
The scope of the joint venture, which will have a 15-year duration, will not be limited to core duty-free operations. According to BIAL, the joint venture company will also look into luxury retail, food and beverage, and travel essentials formats in both duty-free and duty-paid formats.
The new venture will follow BIAL's recently announced commercial strategy, which emphasises "trust, collaboration, and risk and reward sharing." BIAL will be a 50 per cent shareholder in the duty-free joint venture business to ensure that it has equal "skin in the game" and risk-reward sharing.
According to the company, BIAL's objective for joint venture duty-free operations is to develop a world-class offering of iconic international luxury and fashion brands, as well as a digitally immersive experience that provides excellent service to travellers.
BIAL hopes to grow the whole duty-free market by developing sales demand through the joint venture by offering distinctive product offerings and new concepts.
BIAL is looking for global industry heavyweights with considerable experience and expertise in running travel retail and duty-free operations, as well as partners ready to work together to make BLR Airport a desired shopping and dining destination.
According to the airport corporation, the long-term, 15-year contract will be focused on cooperation and dedication, in line with BIAL's ambition for the long-term development of BLR Airport and its leadership in technology and innovation.
"We are looking for an innovative partner with industry know-how for long-term cooperation," said BIAL Chief Commercial Officer Kenneth Guldjberg.
"Our vision is to create an exceptional experience for passengers travelling through BLR Airport, offering an elevated and luxurious environment, with a diverse product mix, great brands and excellent service, while focusing on sustainability and development based on care for the environment."
RFP proposals must be submitted by the end of January 2022. Bidders interested in learning more about the tender process should go to this link. Additionally, interested bidders should send an email to email@example.com with any queries or express interest in the tender.