Ospree Duty Free by Mumbai Travel Retail Pvt Ltd (MTRPL) and King Power International Singapore, a subsidiary of King Power Group (Hong Kong), have announced a strategic joint venture named King Power Ospree.
The venture signifies Ospree’s ambition to expand into the travel retail market in Southeast Asia and beyond.
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It follows the recent rebranding of MTRPL to Ospree, which reflects the company’s ambition to establish a global presence.
Ospree said that its strategic joint venture with King Power underscores Ospree’s “commitment to leveraging synergies and tapping into the promising Southeast Asia travel retail market”.
A statement said: “With King Power’s extensive network and experience in airports, seaports, border locations across Asia, as well as its position as a leading global duty-free player, Ospree is poised to capitalise on this partnership and showcase the world’s finest brands in its retail outlets.”
King Power Group (Hong Kong) CEO Sunil Tuli stated: “Collaborating with Ospree, a leading player in Indian travel retail, aligns with our commitment to providing exceptional customer experiences. Together, we eagerly anticipate elevating the standards of travel retail in South East Asia, Australia, and beyond.”
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Ospree Duty Free CEO Avishek Bambii Das said: “This strategic partnership with King Power marks a significant milestone for Ospree as we venture into the global arena.
By combining our expertise with King Power Group’s extensive experience, we are poised to deliver unparalleled value to travellers. Southeast Asia is a promising travel retail destination, and with this venture, we are underscoring the imminent growth and expansion for Ospree.”
(Source: The Moodie Davitt Report)