Shoppers Stop acquires 49% stake in Gateway Multichannel

Shoppers Stop has acquired 49% of Share Capital of Gateway Multichannel Retail (India) from Hypercity Retail (India). Following acquisition, Gateway has become 100% subsidiary of the company with effect from November 14, 2011.

Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc. The company has 47 Shoppers Stop stores including two airport stores under its operation.