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a
deemed public limited company on December 8, 1997. Pursuant to an
amendment to the Companies Act in the year 2000, our Company was
converted from a deemed public company to a full fledged public
company
with effect from October 6, 2003.
Prior to incorporation two of our existing stores at Mumbai and
Bangalore were run by a division of Ivory Properties & Hotels
Limited
(IPHL) under the brand named Shoppers' Stop. Soon after our
incorporation, IPHL executed a conducting agreement with us dated
November 3, 1997 giving us a right to participate in running the
departmental stores which included the right to use (i) the Mumbai
Shopper's Stop property (ii) the Bangalore Shoppers' Stop property
(iii) the agreements and arrangements with various parties relating
to
purchases, sales, franchises and co-sponsorship (iv) the brands
developed (v) the diverse modes of rendering services to the
customers
(vi) the data bank of Shopper's Stop, the membership of the First
citizen's Club etc; (vii) the software, various systems and training
programmes (viii)books and cassettes providing knowledge for retail
trade, (ix) the business sport systems and (x) the names of the
stores
and logos of the stores.
This agreement was terminated and a fresh Conducting Agreement was
executed with IPHL dated March 31, 2000.
IPHL signed a Deed of Assignment dated March 31, 2000 with us for
transferring the ownership of certain trademarks, trade names,
goodwill
and brand names in our favour known as SHOPPER' STOP (label), STUDIO
KRT (label), STOP (label with color schemes)STOP(device),
STOP(label),
FIRSTCITIZENS'CLUB, BLUESBIZAAR, BLUES BIZARRE, BLUESBIZAR (word &
label) BLUES BIZAAR (word & complete label) i(in-house brand),
i(in-house brand), B (in-house brand).
Out of the various trademarks under which we presently market our
in-house products only six are registered in our name. Three of the
trademarks we presently market some of our in-house products are
registered in the name of our Promoter, Ivory Properties and Hotels
Pvt. Ltd. and applications are yet to be made to register them in
the
name of our Company. For the rest, applications for the
registration
of these trademarks in the name of our Company have been submitted
to
the relevant trademark authorities and are still pending with them.
We initially acquired 790 equity shares of Rs 100 each in UTL from
some
of the existing shareholders and increased our stake in the company
to
1265 Equity Shares (25.3% of the equity capital) on March 23, 1999 at
a
purchase price of Rs.100 per share. UTL was a trading company, and
was
one of our suppliers for garments and accessories. We enhanced our
stake in UTL to 100% in February 2000.
UTL has discontinued its trading operations from January 2003. UTL
handles our distribution and logistic function since February 2000
and
now operates through four distribution centers located in Mumbai,
Bangalore, New Delhi and Kolkata.
Shoppers' Stop Services (India) Ltd was incorporated as our wholly
owned subsidiary in March 2000 to provide shared services and
consultation, in accounting and logistics operations. Currently,
this
subsidiary has limited operations.
Shoppers' Stop.Com (India) Ltd was incorporated in February 2000 as
our
wholly owned subsidiary to provide on-line shopping facilities to
our
customers. As this venture did not yield desired results, its
operations were discontinued in February 2001.
2000 Sixth & Seventh stores opened (Chennai & Chembur, Mumbai)
Placed equity with external investors to raise Rs 600 mn
Acquired Crossword, one of India's leading book retailing
chain,
from India Book House in partnership with ICICI Trusteeship
Services Limited (A/c ICICI Emerging Sectors Fund)
2001 Implemented Warehousing Module of JDA, Auto Replenishment and
Auto Purchase Order system and business to business
connectivity
Eight and Ninth store launched (Pune & Bandra, Mumbai)
Profit Linked Reward System (PLRS) introduced (or all
employees
2002 Tenth store opened (Kandivali, Mumbai)
- The Shoppers' Stop IPO, which began on April 28 and closed on May
4, is subscribed 8.6 times.
- Shoppers' Stop scrip made a sparkling debut on the bourses on May
23. The counter closed at Rs 372.60 on the Bombay Stock Exchange
(BSE), 56.60 per cent higher than its issue price of Rs 238. The
counter opened at Rs 335 on the BSE a 40.9 per cent premium over the
issue price.
-Shoppers Stop enters into franchisee agreement with Mothercare PLC,
UK
-Shoppers' Stop sets up new outlet in Bangalore
Source : Religare Technova