Just three months after pulling out all its products from the largest e-commerce platform, Amazon, one of the oldest departmental chain Shoppers Stop revealed that it will relist them through its subsidiary that runs online operations. In the month of February, shoppers stop has deleted all their products from the Amazon.com, that owns around 5% in the departmental chain to comply with any of the foreign ownership rules that bar the e-commerce companies from holding the shares in the entities selling on their platform.
“We have a subsidiary for our online portal and we are using that to list on Amazon again. It is compliant to regulatory requirements. Earlier, Shoppers Stop was directly selling to them,” Rajiv Suri, managing director of SSL, said. “We should be back online in few weeks and another few days to ramp up our offerings at Amazon.”
Just two years ago, Amazon acquired a 5% stake in the Shoppers Stop with the foreign portfolio investor route along with a deal to use each other network. Some off the revised ownership norms made it difficult for the Amazon to strengthen the relationship between the Indian marketplace, Amazon.in and retailers where it had stakes and used them as a seller on its platform.
Credits:; Shoppers Stop