Home Retail Shoppers Stop extends its option of acquiring 51 pc of Hypercity

    Shoppers Stop extends its option of acquiring 51 pc of Hypercity

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    In a major development, promoted has been allowed by the promoters of (India) Ltd to acquire the remainig 32 per cent equity share capital of HyperCity till June 30, 2010. Earlier, the option was valid till December 31, 2008. The report came through Shoppers Stop’s filing to .

    Shopper Stop aims to achieve 20 per cent digitally-influenced sales by 2020
    They selected JDA Warehouse Management given its scalability, efficient processing and flow-through distribution capabilities it needed to meet the demands of the highly competitive retail environment

    As part of company’s option agreement executed with the promoters of HyperCity Retail (India) Ltd to acquire upto 51 percent of the equity share capital of HyperCity, Shoppers Stop has already acquired 19 per cent of the equity share capital of Hypercity.

    Speaking on the extension option, , customer care associate and managing director, Shoppers Stop, said, “Considering the present scenerio, we have requested the promoters of Hypercity and they have agreed and provided an extension upto June 30, 2010.”

    — IndiaRetailing Bureau