The partnership with e-commerce major Amazon would help Shoppers Stop tap customers from non-metro markets and scale up its financial performance, the domestic brand’s managing director Govind Shrikhande has said. Shoppers Stop has also said it will exclusively partner with Amazon Seller Services, a part of Amazon India, to sell all its private labels and brands. Overall, Shoppers Stop will sell over 400 brands through the site. “We have strengthened our partnership with Amazon to deepen our presence in the online space. In addition to our shopping site and mobile app, shoppers will now experience Shoppers Stop in the marketplace arena through the exclusive brand store on Amazon,” Shrikhande said. The online platform will have the same discounts that run in the store.
“We would collaborate and get our entire catalogue of products on Amazon.in, what it really means that we are giving our power of assortment and catalogue to Amazon.in and in return we would actually get the massive reach of customers because they have a tremendous reach of multiple customers in multiple cities, while our presence in smaller cities is very weak,” the MD added. Amazon NV Holdings, the investment arm of global online retail giant Amazon, has picked up a 5% stake in Shoppers Stop for approximately Rs 180 crore. The proposed deal, which will now have to go through an EGM to seek shareholder approval values Shoppers Stop shares at Rs 407.78 a piece. The company’s stock closed at Rs 416.45 on Friday, while the announcement was made late Saturday evening. Interestingly, the announcement comes close on the heels of rival Aditya Birla Group’s decision to close its e-commerce website, ABOF, citing discount expectations unsustainable to run the business.