Louis Vuitton to run duty-free shops

Finally some good news for the international airports in Mumbai and Delhi. The Economic Times reports that Louis Vuitton (LVMH) has received an approval from the Foreign Investment Promotion Board (FIPB) to run duty-free shops at the international airports in Delhi and Mumbai. The company is expected to invest Rs 40 crore initially for the venture, which will operate through DFS Venture Singapore, one of its subsidiaries. Besides shops at the international airports, the company will also be setting up bonded warehouses for its products. It will be nice to see some progress finally happening at these airports, which seem to have stood still for ages, making no improvements and additions.