Shares of Shoppers Stop rose nearly 5% on August 28 after the company said it has entered a strategic partnership with US-based Hollywood makeup brand Max Factor. The stock bounced back sharply after falling for four days in a row to an intraday high of Rs 819 per share on the NSE, up 4.23%.
The partnership with Max Factor will also mark the brand’s foray into physical retail in India, courtesy of a tie-up between House of Beauty and Shoppers Stop. This would further use Shoppers Stop’s sprawling retail network to scale up Max Factor to 70 Shoppers Stop outlets by year-end across Delhi, Mumbai, Bengaluru, and Chennai.
According to Biju Kassim, Chief Executive Officer, Beauty, Shoppers Stop, “This partnership is well poised to contribute meaningfully to the beauty retail landscape in India by building a beauty enthusiast community and ensuring sustainable growth for the industry in the long run.”.
If we look at a longer time frame, in the last three years, Shoppers Stop stock has returned 235.08% against the rise of 46.04% in the Sensex. While this has been a positive development, the overall outlook nonetheless remains upbeat, with Shoppers Stop saying its consolidated net loss for the June 2024 quarter widened to Rs 22.72 crore, against a net profit of Rs 14.49 crore in the same quarter a year ago. It also added that consolidated revenue from operations rose to Rs 1,069.31 crore from Rs 993.61 crore on a year-over-year basis.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
