Shoppers Stop signs exclusive partnership with Amazon India
today Sep 21, 2017
As per the agreement, Shoppers Stop will sell its products online exclusively on the Amazon platform in India, the company said in Bombay Stock Exchange (BSE) filing.
The collaboration is a win-win for both the company’s as it will help Shoppers Stop Ltd achieve its target of 25 percent profitability in this financial year while helping Amazon India scale up its fashion portfolio to take on rivals Myntra, Flipkart and Jabong in the ecommerce space.
Shoppers stop chain turnover for the first quarter of financial year 2017-18 grew 21.40 percent to Rs 946.44 crore (approx $146.8 million) against Rs 779.60 crore (approx 120.8 million) in June quarter of previous fiscal.
Its private brands, Stop, Kashish, Life, Haute Curry, Eliza Donatein and Vettorio Fratini contribute to 11.5 % of its sales while exclusive brands like Virat Kholi's brand Wrogn, Spanish fast fashion brand Desigual and Shraddha Kapoor's Imara brand provide around 4.1% sales for the company. All these brands along with Sonam Kapoor’s recently launched Rheson will now be available on Amazon.
Amazon India Fashion Business Head Arun Sirdeshmukh said the collaboration will enable the two partners to draw upon each other's strengths to serve the evolving customer base in India.
"Shoppers Stop will 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," he added.
Amazon India will provide marketing, promotion and visibility support to promote the sale of products of Shoppers Stop on Amazon.in. The companies will also partner for marketing activities and creation of Amazon experience centres.
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