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Snapdeal Ties Up With Shoppers Stop

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Snapdeal Ties Up With Shoppers Stop
Snapdeal has tied up with Shoppers Stop to retail their products online, the e-commerce player and  the retail major announced in a joint press conference on Thursday.

The Shoppers Stop stock rose over 7 per cent to Rs 445.90 on the news of the association.
At 12:45 pm, the Shoppers Stop stock was trading 2.45 per cent at Rs 426.70, outperforming the broader Nifty and the Sensex, which were in the red.

"I feel that finally starting today there is a new beginning on how the lines between offline and online commerce are going to start blurring. For the end consumer the only thing that matters is great product, great price, great experience and then it's up to companies like ours and Shoppers Stop to make sure that we deliver," Snapdeal co-founder and CEO Kunal Bahl said.

Shoppers Stop had last week told NDTV that it expects online shopping to play a major role in its sales.

Globally online retail contributes 9 per cent of total retail sales and it is pretty strong in US, China and UK, Govind Shrikhande, managing director, Shoppers Stop had told NDTV. However, India is lagging behind but that also leaves a huge scope for player like Shoppers Stop to cash in, he said.

"Although out of today's $600 billion Indian retail, less than $4 billion is online  but by 2020 it is expected to be anywhere between $50-60 billion.

"We believe that the growth rate in online is going to be pretty big and if we can be party to this growth I think that would be great," Mr Shrikhande had said.

Shoppers Stop had also earlier said that it is planning to invest Rs 60 crore over the next three years on omni-channel initiatives.

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