Saturday, February 24, 2007

Argos coming to India

The Economic Times writes about a deal between Home Retail group and the K Raheja Group to set up stores and a catalogue business in India. This news has been in the offing for a while now. UK based Home Retail group will be signing a MoU with K Raheja Group divisions, Shoopers' Stop and HyperCity Retail to develop a retail format for Argos. In the UK and Ireland, Argos is one of the leading general merchandise retail chains and also has a thriving online business. Argos stores and catalogue will be called HyperCITY-Argos and will be operated an a SPV. The new venture will be launched first in Mumbai and then in other cities in India.
Shoppers Stop MD BS Nagesh said, “This unique retail format of Argos is particularly suited to the urban, densely populated areas, where retail space is expensive and limited in supply.

No comments: