Market is full of rumours.. But, if these rumours are heard, they say, that India’s Pioneer Retails Chain Group, Shopper’s Stop is for SALE. This SALE might lead to a great deal of commotion in the Retail Markets of India.

Shopper’s Stop is well entrenched in the retail space and is spread across the country. The retail brand currently has 23 stores with a presence in 12 cities. The total retail area of the company, including all formats, stands at 1.51 million sq ft. In the quarter ended December 31, 2007, Shopper’s Stop added 142,271 sqft of area across various formats.

The sources of the rumours say that the promoter group of Shopper’s Stop i.e. the Mumbai-based K Raheja Group is looking for a buyer for Shopper’s Stop as also its other retail formats, including Home Stop, Crossword, Stop & Go (airport retail) and Brio.
When contacted, Shopper’s Stop managing director B S Nagesh said, “These are just baseless market rumours. There is no credibility whatsoever. Shopper’s Stop is not for sale.”

However, Reliance Industries’ Retail arm, Reliance Retail has been looking into it seriously and is inclined to buy it, if the price is right. Though, there hasn’t been any decision as to what is the right price.

If this deal takes place, Reliance Industries is surely going to be benefited a lot.

Categories: Acquisitions & Mergers
Tags: promoter_group, Reliance, retail_brand, retail_formats