Wednesday, May 16, 2007

Shoppers’ Stop and Macy tie up

Macy Inc has formed a joint venture agreement with department store chain Shopper’s Stop which is owned by the K Raheja Group. Macy Inc was earlier known as the Federated Department Stores until January this year when it was renamed as Macy Inc. At present there are 112 Macy stores and 38 Bloomindales stores. Shoppers’ Stop has held talks with several international retail companies to set up stores in India, including the Spanish Inditex group, which owns the Zara brand, which did not work out.

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