Sep 26, 2017
2 minutes
Shoppers Stop eyes smaller markets with Amazon deal
Sep 26, 2017
Indian fashion retailer Shoppers Stop eyeing new markets with its partnership with Amazon India and hopes the further boost its omni-channel presence across the country.
Amazon.com had picked up a 5 percent stake in Shoppers Stop with an investment of 1.79 billion rupees (£20.4 million). Both the companies are hoping that the partnership will give them an upper hand in India’s fashion market.
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 a leading fashion retailer in India. This segment of market is under-penetrated and unorganised. We see a big potential in Shoppers Stop to disrupt this segment and want to be part of their growth story,” said Amazon in a statement after the deal.
“The new partnership will leverage Shoppers Stop’s brand assortment and Amazon’s reach to create an omni-channel retail experience for consumers across the country,” said Shoppers Stop.
“In line with our omni-channel retail vision, we have strengthened our partnership with Amazon.in to deepen our presence in the online space,” said Shoppers Stop Managing Director Govind Shirkhande in a statement. “The new alliance with Amazon.in will give a fillip to the growth of our omni-channel business,” asserted Shirkhande.
“In line with this effort, we have entered into a bespoke partnership which enables two leading brands in the retail sector to draw upon each other’s strengths to serve the customer base in India,” Amazon Fashion Head Arun Sirdeshmukh.
The partnership will also enable Amazon.in to close in on Flipkart and its subsidiaries Myntra, Jabong in the fashion category with the help of Shoppers Stop fashion network and private labels.
Amazon will enable Shoppers Stop to access its nationwide customer base and help the brand expand reach in new geographies.
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