Pursuant to this, the company has been allotted 1,01,00,000 warrants, convertible into equity shares of Style Baazar
Cupid has made the payment of Rs 82.88 crore, representing 25 per cent of its total planned investment of Rs 331.53 crore in Baazar Style Retail, the company said in an exchange filing. Pursuant to this, the company has been allotted 1,01,00,000 warrants, convertible into equity shares of Style Baazar.
This investment provides Cupid with direct access to a retail network of over 260 stores, significantly strengthening market access, shelf visibility and last-mile reach for its fast-moving consumer goods product portfolio. The collaboration is also expected to support faster rollout of Cupid’s expanded product portfolio. The company highlighted that this will enable deeper penetration across high-potential regional markets with improved speed and efficiency.
“We are pleased to complete the first phase of our strategic investment in Style Baazar, 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,” stated Aditya Kumar Halwasiya, Chairman and Managing Director, Cupid.
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 increasing consumer touchpoints and brand visibility. With this ecosystem in place, Cupid expects to generate incremental annual revenue of Rs 500 crore within the next three years.
“Cupid’s 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,” highlighted Shreyans Surana, Managing Director, Baazar Style Retail.
