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

Amazon arm to buy $27.6m stake in Shoppers Stop

NV Investment Holdings LLC, the investment arm of Amazon has picked up 5% stake in brick & mortar retailer Shoppers Stop Ltd for approximately ₹180 crore.

Shoppers Stop's board has approved issuance of 43.95 lakh equity shares of Rupees 5 each at price of Rupees 407.78 per piece to Amazon.com NV Investment Holdings LLC for Rupees 179.25 crore on preferential basis, Shoppers Stop said in BSE filing.

Amazon's investment arm plans to buy 5% stake in department chain Shoppers Stop for about Rs180 crore, indicating its intention to use physical stores as one of its sales drivers in India. Shares of Shoppers Stop have gained 45 per cent this year and closed at 418.1 rupees on Friday in Mumbai.

Shoppers Stop had last week entered into a commercial arrangement with Amazon India to sell all its private labels and brands on the latter's marketplace.

Commenting on the partnership, Shoppers Stop Customer Care Associate & MD Govind Shrikhande said: "Overall, this alliance with Amazon.in will give a significant fillip to the growth of our omni-channel business". The company said it will be selling its entire portfolio of over 400 products across apparel, footwear, and other categories on Amazon.in website.

US State Dept: New N. Korea Sanctions Will be Effective
North Korea's six nuclear tests to date have all been underground, the most recent earlier this month by far its largest. Kim vowed that he would make the United States president "pay dearly" for threatening to totally destroy North Korea .

Dallas Cowboys talk getting back to form in Babe's Inside Slant
Over on the Cardinals' side, they're now 1-1 following a 35-23 loss to the Lions in the opener and a 16-13 victory over the Colts. Meanwhile, the Cardinals are 3-7 ATS in their last 10 versus the NFC and 4-11 ATS in their last 15 home games.

Georgia makes SEC statement in rout of Mississippi State
A 41-yard touchdown pass to Isaac Nauta and a 49-yard field goal by Rodrigo Blankenship capped the scoring for the Bulldogs. MSU has rolled through its three opponents this fall, winning each game by at least 30 points to make an early statement.

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

Arun Sirdeshmukh had said the collaboration will enable the two partners to draw upon each other's strengths to serve the evolving customer base in India.

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

Promoter K Raheja Corp Group holds 67.10 percent stake in Shoppers Stop, according to data on the Bombay Stock Exchange.

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

Related:

  • Oklahoma State Sells Out Big 12 Opener Against TCU

    Oklahoma State Sells Out Big 12 Opener Against TCU

    Oklahoma State has won four of the five previous meetings since the Frogs joined the league, including a 3-0 mark in Stillwater. Julius Lewis is out for the season following surgery for an injury suffered in practice, Patterson announced after the game.
    Rule of 10 For the Premier League

    Rule of 10 For the Premier League

    Fabregas was as creative and fluid as ever, and Azpilicueta is proving how much of a threat he can be, as well as solid in defence.
    Hurricane Maria Expected To Cause Dangerous Surf, Rip Currents Along US Coast

    Hurricane Maria Expected To Cause Dangerous Surf, Rip Currents Along US Coast

    The storm is now a Tropical Depression and is expected to remain over open waters and pose no threats to land. The hurricane center said that Maria will pass between the East Coast and Bermuda by the middle of next week.
  • No. 5 USC capitalizes on miscues to beat Cal

    No. 5 USC capitalizes on miscues to beat Cal

    The Bears, without a victory over the Trojans since 2003, were tied at 13-13 late in the third quarter when it all unraveled. But Wilcox then tried a fourth-and-4 from the USC 42 late in the third quarter that was stopped on an incomplete pass.
    Trump Leaning Toward Decertifying Iran Nuclear Deal

    Trump Leaning Toward Decertifying Iran Nuclear Deal

    Meanwhile, a Downing Street spokeswoman said military force must remain an option to deal with the "rogue" state. A possible third pillar would involve "open discussions with Iran about the current situation in the region".
    Trump unveils new sanctions against North Korea

    Trump unveils new sanctions against North Korea

    Mr Ri reportedly added: "We have no idea about what actions could be taken as it will be ordered by leader Kim Jong Un". Meanhwhile, North Korean leader Kim Jong-un and his U.S. counterpart Trump have exchanged strong words for each other.
  • North Korea reacted sharply to the threat of trump

    North Korea reacted sharply to the threat of trump

    North Korean Foreign Minister Ri Yong-ho warned of the test after comparing Trump's speech to "the sound of a barking dog" . North Korean leader Kim Jong-Un had Twitter users rushing to dictionaries as he revived a centuries-old insult.
    Twins 7, Tigers 3

    Twins 7, Tigers 3

    Granite, the 10th man to bat in the eighth, hit a three-run shot off Blaine Hardy for his first big-league homer. He left with Detroit holding onto a 3-2 lead, but its bullpen began the day with a 5.50 ERA, worst in baseball.
    Kim Jong Un calls Trump 'dotard,' ramps up war of words

    Kim Jong Un calls Trump 'dotard,' ramps up war of words

    Kim's Foreign Minister Ri Yong-ho told reporters Pyongyang might now consider detonating a hydrogen bomb outside its territory. Tillerson says American diplomatic efforts "continue unabated" to try to bring Kim's government to the negotiating table.
  • New magnitude 6.1 natural disaster  shakes jittery Mexico

    New magnitude 6.1 natural disaster shakes jittery Mexico

    Some slight damage was reported in Oaxaca State, including a collapsed bridge. The combined death toll from the two events is thought to be over 400.
    Senator John McCain Says He Won't Support Republicans' Healthcare Bill

    Senator John McCain Says He Won't Support Republicans' Healthcare Bill

    It also would limit spending for Medicaid, the federal-state program that now covers more than 70 million low-income people. On Friday Senator Joni Ernst, of Iowa, admitted : "I'll be honest, it seems unlikely that we'll be voting on this".
    China experts say 3.4-magnitude quake hits North Korea in 'suspected explosion'

    China experts say 3.4-magnitude quake hits North Korea in 'suspected explosion'

    There has been name-calling and heightened tensions between Washington and Pyongyang this week as the United Nations met in NY . Previous quakes from North Korea have indicated nuclear tests by the reclusive state, the most recent earlier this month.

Comments

Latest news

We Were 100 Percent In Control Against Stoke - Antonio Conte
Antonio Conte reflected on a "good day" for his Chelsea side after they cruised to a 4-0 win at Stoke on Saturday. Morata's opener against Stoke came on two minutes when he was put through by a long ball over the top.

Predicting Antonio Conte's starting eleven
The lineup looks like Conte has chose to ditch the three-man backline for this game, with only four natural defenders named. Chelsea again, against the run of play grabbed number three through the blistering pace of Morata on 78 minutes.

Big four banks Commonwealth, ANZ, Westpac and ANZ end $2 ATM fee
Bank customers in Australia are often charged a withdrawal fee when they use another bank's cash machine to withdraw money. The lender's Bankwest cash machines and worldwide cards are excluded, Commonwealth Bank said on its website .

Iranian president at UN: Security for Israel is 'not possible'
Iran has ruled out talks with the United States on revisiting a 2015 nuclear accord as "waste of time", the media reported. Iran has accused the Trump administration of not living up to its requirements on sanctions relief under the nuclear deal.

Protesters rally against Iranian president at United Nations
Netanyahu said that Israel's alliance with the United States has been "never stronger" than now under the Trump administration. She said all countries must "come together and defend the worldwide order that we have worked so hard to create".

Iran's president blames United States administration for nuclear deal violation
McMaster, making the rounds on TV with a simple message: US policy regarding Iran has to "change fundamentally" and it will. Later on Friday, Iranians staged massive anti-Trump protest to show their anger over the US president's speech .

China vows to break 'malicious cycle' over North Korea
General Assembly in New York, Wang told Kono that China has been fulfilling its global obligations by fully enforcing U.N. Trump responded with a tweet calling Kim Jong-un "a madman" who "will be tested like never before!"

Instant Analysis: Florida holds on for 31st straight over Kentucky
That brought on MacGinnis for the long kick, but the Prattville High School graduate was well short on the attempt. UP NEXT: Florida returns home to take on Vanderbilt, looking to move to 3-0 in SEC play.

Quake detected near North Korean nuclear test site
ET Saturday 22 kilometers (more than 13 miles) east-northeast of Sungjibaegam, North Korea, the US Geological Survey said. Later, the China Earthquake Administration revised its estimation, saying the quake was not a nuclear detonation.

IPhone 7-like internal design, new wireless charging coil, and more
If you are wondering how Reliance Digital for the first time ever has announced a 70 percent buyback offer on iPhone 8 and 8 Plus. A new facial-recognition feature called Face ID can verify the users' identities and their purchases via Apple Pay.

The US Federal Reserve System grapples with the inflation dilemma
The long-awaited reduction in the Fed's $4.5 trillion balance sheet comes amid great uncertainty at the central bank. Nonetheless, US stocks rebounded quickly after a brief correction triggered by the ending of QE in October 2014.

Index eases as new NoKor bomb threat spooks investors
Trump took to Twitter this morning to fire back at Kim, calling the leader a " madman " while threat his own brand of violence. It imposes a 180-day ban on vessels and aircraft that have visited North Korea from visiting the US.

Myanmar blames Rohingya for blast
The government says there is no such ethnicity as Rohingya and that they are Bengalis who illegally migrated to Myanmar from Bangladesh.

Skyworks Solutions Inc (NASDAQ:SWKS) Institutional Investor Sentiment Trend
The institutional investors in our partner's database now hold: 146.46 million shares, down from 147.62 million shares in 2017Q1. The stock of NGL Energy Partners LP (NYSE:NGL) earned "Equal Weight" rating by Barclays Capital on Wednesday, November 11.

Starting defensive end Torrence Brown out vs. Hawkeyes
Firstly, without stopping Barkley, this game is going to be a complete nightmare, quite like a year ago . The Nittany Lions and the Hawkeyes are playing a very oddball game right now.

Other news