Amazon, Flipkart to Take Minority Stake in Online Kids Apparel Store Hopscotch

| February 18, 2019

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Ecommerce giants Amazon and Flipkart are reportedly in talks with Mumbai-based online kids fashion platform Hopscotch for purchasing a significant minority stake. At a time when both the global companies are facing trouble in India following the implementation of the new FDI guidelines in ecommerce sector, the companies are looking to bring in more direct sellers on to their platforms. The employee stock ownership plan (ESOP) is an employee benefit plan which allows the employees to own stake in the company. The buyback is generally offered by the startups when the founders are looking to increase their stakes in the company ahead of a fundraise or acquisition. According to reports, Hopscotch has hired UK-based financial institution Barclays as its investment banker in order to raise $60 Mn (INR 428 Cr) for expanding its services and recruiting more employees.

Spotlight

Mavi

Incorporated in Istanbul in 1991, today Mavi is globally recognized as a highly successful lifestyle brand. With strong denim roots, Mavi has evolved into an international apparel and accessories brand for both women and men. Mavi has built success on products of superior quality and on the Company’s “Perfect Fit” strategy. Mavi’s “Perfect Fit” strategy aims to understand its customers and their specific needs so that they can build a brand and design clothing that satisfies their quality expectations and perfectly fits their bodies and lifestyles, offering our customers high quality for great value. In Fiscal Year 2016, Mavi sold 7.5 million denim items worldwide (excluding Russia and Australia) via a network of approximately 5,500 points of sale.

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Spotlight

Mavi

Incorporated in Istanbul in 1991, today Mavi is globally recognized as a highly successful lifestyle brand. With strong denim roots, Mavi has evolved into an international apparel and accessories brand for both women and men. Mavi has built success on products of superior quality and on the Company’s “Perfect Fit” strategy. Mavi’s “Perfect Fit” strategy aims to understand its customers and their specific needs so that they can build a brand and design clothing that satisfies their quality expectations and perfectly fits their bodies and lifestyles, offering our customers high quality for great value. In Fiscal Year 2016, Mavi sold 7.5 million denim items worldwide (excluding Russia and Australia) via a network of approximately 5,500 points of sale.

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