Shopper's Stop, HyperCITY ink MoU for Argos.
Economic Times (New Delhi, India), February, 2007
Feb. 27--MUMBAI, India -- Shopper's Stop and HyperCITY Retail, the two retail ventures of K Raheja group, on Friday signed a memorandum of understanding with UK's leading retail chain Home Retail group to develop the Argos retail format stores in India.
Argos is among the leading general merchandise retailers in the UK and Ireland which operates a unique format of catalogue stores, along with home shopping and on-line retail. ET, on January 23, had reported that K Raheja group was close to signing the deal with Argos.
The stores and the catalogue shall be branded HyperCITY-Argos and shall be operated by an SPV jointly owned by Shoppers Stop and HyperCITY Retail. The business would be initially launched in the Mumbai region and will be rolled out...
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