|
PNN
New Delhi [India], April 3: Cupid Limited (BSE: 530843 | NSE: CUPID), has made the payment of 82.88 crore, representing 25% of its total planned investment of 331.53 crore in Baazar Style Retail Limited (Style Baazar). Pursuant to this, the Company has been allotted 1,01,00,000 warrants, convertible into equity shares of Style Baazar. This investment provides Cupid Limited with direct access to a large and rapidly expanding retail network of 260+ stores, significantly strengthening market access, shelf visibility, and last-mile reach for its FMCG product portfolio. The partnership enables immediate availability of Cupid's products across Style Baazar stores, enhancing in-store presence and consumer engagement from the outset. The collaboration is also expected to support faster rollout of Cupid's expanded product portfolio, leveraging Style Baazar's strong store-level execution capabilities and consumer insights. This will enable deeper penetration across high-potential regional markets with improved speed and efficiency. Style Baazar's planned expansion to over 500 stores in the next two to three years is expected to further scale this opportunity, with Cupid's FMCG offerings growing alongside the network and significantly increasing consumer touchpoints and brand visibility. With this ecosystem in place, Cupid Limited expects to generate incremental annual revenue of 500 crore over the next three years as the platform scales across geographies and product categories. Commenting on the Development, Mr. Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited said, "We are pleased to complete the first phase of this strategic investment, this development strengthens our retail presence and significantly enhances our FMCG distribution reach across key markets. As the partnership scales, we remain confident of driving strong growth through improved market access and deeper consumer engagement." Commenting on the Development, Mr. Shreyans Surana, Managing Director, of Baazar Style Retail Limited said, "We are pleased to advance our partnership with Cupid Limited with the completion of the first phase of this investment. Their strong FMCG portfolio and execution capabilities continue to complement our retail platform, enabling better product availability and customer experience. This collaboration will further support our expansion journey as we scale our store network and strengthen our overall value proposition." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
|
