Adani Enterprises, managed by Gautam Adani, said on Wednesday that its Dubai branch, Ospree International FZCO, has bought Le Marche Duty Free SAS (LMDF), situated in France, for €5,000.
In an attempt to accelerate its development in the duty-free business, Adani Enterprises stated in an exchange filing that the purchase is crucial in the benefit of Mumbai Travel Retail Private Limited.
Adani Group, a prominent airport operator in India, announced intentions to enter the duty-free business in November 2023, with the creation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau to establish duty-free stores at Macau International Airport.
The airport had issued bids and said that it was searching for a “operator to operate duty-free liquor and tobacco services, optionally with or without general merchandise retail services (but no perfume and cosmetics), with the defined subconcession areas of Macau International Airport.”
The ports-to-oil conglomerate has recently expanded into a variety of industries, including telecom, data centers, cement, and media.