Shoppers Stop’s share price rose nearly 5 percent in trading on August 28 after announcing a strategic partnership with Hollywood makeup brand Max Factor.
The stock, which had been in the red for four days in a row, reached an intraday high of ₹819 per share on the NSE, an increase of 4.23 percent.
The share price witnessed an uptrend after Max Factor announced its entry into brick-and-mortar retail in India, a move made possible by a strategic partnership between House of Beauty and Shoppers Stop.
The retail company stressed in a stock exchange announcement that the collaboration with House of Beauty represents a significant milestone that leverages Shoppers Stop’s vast retail network and customer base.
House of Beauty is a modern, specialty beauty company in India, introducing international and iconic beauty brands to the contemporary Indian consumer.
Max Factor plans to expand its presence in India by the end of the year and increase its availability to 70 Shoppers Stop stores to ensure greater reach and accessibility in key cities such as Delhi, Mumbai, Bengaluru and Chennai.
“We believe this partnership will not only elevate beauty retail in India but also foster a loyal community of beauty lovers, driving long-term growth and success,” said Biju Kassim, CEO Beauty at Shoppers Stop.
Shoppers Stop share price
Shoppers Stop stock has delivered an impressive multibagger return of 235.08 percent over the last three years, outperforming the Sensex which grew 46.04 percent over the same period.
However, the company recorded a consolidated net loss of ₹22.72 crore in the June 2024 quarter, compared to a consolidated net profit of ₹14.49 crore in the same period last fiscal, according to a regulatory notification. Consolidated revenue from operations for the quarter was ₹1,069.31 crore, an increase of ₹993.61 crore in the corresponding period last year.
