Monday, March 05, 2007

Home Retail from UK to develop Argos brand for India

UK’s Home Retail Group has signed an agreement to develop the Argos brand in India via a franchising arrangement with Shoppers' Stop and HyperCITY Retail. In a separate deal, the company will be buying stake in Home Store + More, a retailer in Ireland. For its India expansion, the company has tied up with Shoppers’ Stop and HyperCITY Retail India Pvt, to set up a brand called HyperCITY-Argos, for home and housewares. The first store will be opened in Mumbai by the end of the year. Argos is one of the leading Internet retailers in the UK

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