Shoppers Stop, HyperCity set up franchisee stores

By Staff
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Google Oneindia News

New Delhi, Feb 26: Shoppers Stop has tied up with HyperCity Retail(I) Pvt Ltd to develop Argos retail format of catalogue stores inIndia, with an exclusive franchise from the United Kingdom-based HomeRetail Group.

Argos is among the leading general merchandise retailers in the UKand Ireland, and operates catalogue stores along with home shopping andonline retail.

''The retail format of Argos is particularly suited to the urban,densely populated areas, where retail space is expensive and limited insupply. Home Retail Group has developed the capability to manage thisunique and highly successful retail format very efficiently and throughthe franchise arrangement we shall jointly adapt this capability to theIndian environment,'' Shoppers Stop Managing Director B S Nagesh saidin a statement issued to BSE.

The stores and the catalogue set up under the tie-up will bebranded HyperCITY-Argos and will be operated by a special purposevehicle jointly owned by the company and HyperCITY Retail.

The business would be initially launched in the Mumbai region and will be rolled out nationally in the long term.


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