Gateway Multichannel Retail (India) Ltd, a joint venture of Hypercity Retail (India) Ltd and Shopper's Stop Ltd has decided to discontinue its catalogue retail operations under the Hypercity-Argos brand, according to a statement released by Shoppers Stop today.
“A decision to discontinue the Hypercity-Argos retail business operations, following the initial two year trial development period, was taken mutually by Gateway and Home Retail Group, as the business did not meet the planned performance levels, to support the investments required in the current economic climate”, the statement said.
Gateway Retail operates catalogue, stores and internet retail, under franchise from Home Retail Group.
