Amazon's investment arm to buy 5% stake in Shoppers Stop

Andrew Cummings
September 24, 2017

An affiliate of has agreed to buy a 1.79 billion-rupee (Dh101.1 million million) stake in the Indian retailer Shoppers Stop, the Indian company said in a filing.

Shoppers Stop one of the biggest retail shops in India said NV Investment Holdings LLC will invest Rupees 179.25 crore in the company. Its shares closed at Rs 416.45 apiece on Friday on the BSE, down 3.39% from the previous close.

In a related development, Shoppers Stop also announced it had entered into an exclusive partnership with Amazon Seller Services Pvt. As part of the deal, Shoppers Stop will have an exclusive flagship store on the Amazon marketplace.

"In line with our omni-channel retail vision, we have strengthened our partnership with to deepen our presence in the online space", said Shoppers Stop Managing Director Govind Shirkhande in a statement to IANS. The company said it will be selling its entire portfolio of over 400 products across apparel, footwear, and other categories on website.

Amazon Fashion Head Arun Sirdeshmukh said the partnership enables to further extend its "leadership on selection in fashion category and offer customers across India fast while it also enables Shoppers Stop to access Amazon.ins nationwide customer base and expand reach in new geographies".

The company now commands a market capitalisation of Rs 3,477.46 crore on the BSE, exchange data showed.

Shoppers Stop has 80 retail stores across the country.

This partnership will leverage Shoppers Stops brand assortment and Amazon.reach to create a superlative omni- channel retail experience for consumers across the country.

Shoppers Stop's brands such as Stop, Kashish, Haute Curry and RS by Rocky Star are already listed on the since they entered into a partnership in 2016.

"These will be for customers to touch and feel Amazon's exclusive brands, mainly for fashion and accessories".

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