Shoppers Stop completes transfer of shares worth Rs 180 crore to Amazon
Indian leading fashion retailer Shoppers Stop has completed the transfer of shares worth Rs 180 crore (approx $28.4 million) to Amazon Amazon.com NV Investment Holdings LLC, an investment arm of Amazon.com. Amazon.com had picked up a 5% stake in Shoppers Stop for Rs 180 crore (approx $28.4 million) in September 2017. Amazon continues to pump in the money to its India operations and after investing heavily in infrastructure, technology the company is looking at partnerships with retailers to strengthen its market presence. Shoppers Stop is already selling exclusively online to Amazon’s nationwide customer base offering its private labels in fashion like Stop, Kashish, Haute Curry, RS by Rocky Star. Shoppers Stop is now expected to list its entire portfolio of over 500 brands on the Amazon marketplace in an exclusive arrangement. Also, Shoppers Stop Ltd will create exclusive Amazon experience centres for fashion across its physical network. Shoppers Stop is eyeing new markets with its partnership with Amazon India and hopes to further boost its omni-channel presence across the country while Amazon is looking to scale up its fashion portfolio to take on rivals Myntra, Flipkart and Jabong in the ecommerce space.