Pantaloon signs agreement with Alpha Airports Group

The Economic Times reports that Pantaloon Retail will be forming a 50:50 joint venture with UK based Alpha Airports Group plc. to develop retail stores focusing on travel and food in airports in India. The UK based company has 150 stores in 15 countries and has an annual turnover of more than $880 million. The company has already been operating duty-free shops since 2002 at the Cochin International Airport.