Shoppers Stop Ltd. will begin selling products of Hollywood makeup brand Max Factor through a strategic collaboration, the company announced on Wednesday.
Max Factor will expand its presence in India to 70 Shoppers Stop outlets by the end of the year, ensuring broader reach and greater accessibility in key cities like Delhi, Mumbai, Bengaluru, and Chennai, a statement said.
The partnership will feature exclusive Max Factor products, including new launches and limited edition collections at Shoppers Stop stores.
Max Factor and Shoppers Stop will introduce year round and seasonal activations, including workshops and masterclasses, influencer meet-and-greets, product tutorials, and sampling. Customers can also enjoy personalised consultations, loyalty programs, festive offers, and gifts with purchases, the statement said.
In addition to expanding its retail footprint, Max Factor products will also be available online through shoppersstop.com and ssbeauty.in.
Shoppers Stop reported 5% yearly increase in sales in the June quarter at Rs 1,034 crore. Beauty sales grew by 5% to Rs 212 crore, outperforming other segments with 17% contribution to overall sales. Beauty distribution business reported Rs 39 crore sales with distribution network expanded to over 444 doors. The total brand portfolio expanded to 27 brands.
Shares of Shoppers Stop surged as much as 4.9% before paring gains to trade 3.3% higher at Rs 812 apiece at 1:05 p.m., compared to a 0.34% decline in the benchmark NSE Nifty 50.
The stock has risen 12% in the last 12 months and 18% on a year-to-date basis. Total traded volume so far in the day stood at 0.9 times its 30-day average. The relative strength index was at 59.
Five out of 10 analysts tracking Shopper Stop have a 'buy' rating on the stock, three recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 1.5%.
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