Shoppers Stop in the limelight

Shopper’s Stop rose over 3.5% to Rs.549.60 during the opening bell session. It has come off this intra day high but remains 2.25% up at Rs.543 levels.

The news in Shoppers Stop is a completion of what it started in September’17.

The company stated that on 12th Jan, it allotted 43.95 lakh equity shares to Amazon.com at a price of Rs.407.78/share, aggregating Rs.179.26 crore.

This was done through private placement and allotted to Amazon.com NV Investment Holdings LLC, which as at 12th Jan 2018, holds a 5% stake in Shoppers Stop.

The company had entered into an agreement with Amazon.com Investment Holdings LLC in September for the purpose of issuing equity shares on a preferential basis. As part of the deal, Shoppers Stop will have an exclusive flagship store on the Amazon marketplace.

The two companies have an existing partnership since 2016 under which Shoppers Stops private and exclusive brands (Stop, Kashish, Haute Curry, RS by Rocky Star) have been listed on the Amazon marketplace.

Shoppers Stop will now have a flagship store on Amazon.in where it will list its entire portfolio of over 400 across categories such as apparel, footwear, beauty and accessories.