Last September, the world’s largest, richest and most disruption-bearing e-commerce company did something that seemed quite inexplicable in India. Amazon invested the equivalent of a rounding error, Rs 180 crore ($24.8 million) into an Indian departmental store chain biding time in the lesser populated corners of malls all over India—Shoppers Stop. Once a go-to shopping destination for those looking to buy premium, branded clothes, shoes, perfumes, underwear, even jewellery, all under one roof, Shoppers Stop lost its verve as online shopping took off in India.
Amazon and Shoppers Stop: The beginning of an unlikely friendship
Why would e-commerce behemoth Amazon need a retail chain like Shoppers Stop? Well, making inroads into Indian fashion is one reason. Shoppers Stop, on the other hand, gets to stay afloat
Rs 180 crore or $24.8 million. That’s the sum Amazon invested in Shoppers Stop last year
Shoppers Stop was struggling with debt before it exited non-core businesses in 2017
With its debt burden reduced, fashion and lifestyle seems to be Shoppers Stop’s main focus to revive its fortunes
But what could Amazon really gain out of this?