Amazon’s Investment to Help Indian Retailer Add 25% More Stores
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Bezos’ empire to buy shares in Mumbai-based Shoppers Stop
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Shoppers Stop to host Amazon experience centers in stores
Amazon.com Inc.’s investment in retailer Shoppers Stop Ltd. will help the Indian company boost revenue and add 25 percent more stores, while the U.S. firm expands its reach into smaller towns in the world’s second-most populated nation.
Shoppers Stop will raise 1.8 billion rupees ($28 million) selling a 5 percent stake to Amazon.Com NV Investment Holdings LLC, the Mumbai-based company said in an emailed statement late Saturday. As part of the deal, Amazon experience centers — which let customers test out the products available online — will be set up across Shoppers Stop’s network of 80 bricks-and-mortar stores in India. The company will add 20 stores in the next four years, Govind Shrikhande, managing director of Shoppers Stop said.
Amazon’s Investment to Help Indian Retailer Add 25% More Stores
