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 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 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 website.

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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 since they entered into a partnership in 2016.


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