After making its mark as a prime e-commerce player in the Indian market, Amazon is looking to expand its presence in the offline retail world too. Jeff Bezos’ company has bought a 5 percent stake in Mumbai-based Shoppers Stop — investing a total of Rs 1.8 billion ($28 million).
According to a Bloomberg Technology report, as part of the deal, Shoppers Stop will let Amazon setup experience centres across all the 80 of the company’s brick-and-mortar stores located in 38 cities in India.
While this collaboration will help Amazon make their presence felt in the offline market in India, Shoppers Stop could also benefit from it as they can tap into Amazon’s massive online presence.
The investment will also help Shoppers Stop to open 20 brick-and-mortar stores to its fold. In addition to that, Amazon’s investment made the share price for the company surge by as much as 20 percent — their biggest stock price rise in the last eight years.