Argos, Raheja deal looks likely

According to reports in today's Economic Times, the UK's leading catalogue retailer, Argos is on the verge of signing an agreement with the K Raheja Corp. If the deal goes through, Argos will open stores in India. Argos is owned by the Home Retail Group and sells general merchandise and home related products from over 670 brands in the UK and Ireland. In the recent past, several retailers in the UK have shown interest in opening stores in India and it looks like Argos might even beat the UK's largest retailer Tesco in coming to India. The K Raheja Corp owns India's best known department store chain, Shoppers' Stop and also its first hypermarket chain, HyperCity.