Ospree Duty Free and King Power enter new strategic joint venture
Ospree Duty Free by Mumbai Travel Retail Pvt Ltd (MTRPL) and King Power International PTE LTD, 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 vibrant travel retail market of South East Asia and beyond.
The recent rebranding of MTRPL to Ospree marks a significant milestone, reflecting the company's ambition to establish a global presence. The strategic joint venture with King Power underscores Ospree's commitment to leveraging synergies and tapping into the promising SEA travel retail market. With King Power's extensive network and experience in airports, seaports, border locations across Asia, as well as its esteemed position as one of the top global duty-free players, Ospree is poised to capitalize on this partnership and showcase the world's finest brands in its retail outlets.
Sunil Tuli, Group CEO of King Power Group (Hong Kong), said, “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.”
Avishek Bambi Das, CEO of Ospree Duty Free, added, “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 travelers. Southeast Asia is a promising travel retail destination, and with this venture, we are underscoring the imminent growth and expansion for Ospree.”