Metavisio-Thomson to buy stake in New Shop after $150 million deal
ECONOMY & POLICY

Metavisio-Thomson to buy stake in New Shop after $150 million deal

The Indian unit of French consumer technology company Metavisio-Thomson, known for selling affordable TVs, notebook computers, and tablets under the Thomson brand, is acquiring a minority stake in the convenience retail chain New Shop. This move follows a strategic distribution deal between Metavisio-Thomson and New Shop, aimed at jointly establishing 120 flagship stores in India's tier-2 and tier-3 markets.

The deal, valued between $125 million and $150 million, is part of Metavisio-Thomson's broader push into India's rapidly growing hinterland markets. Last week, when the distribution deal was announced, Metavisio-Thomson hinted at major upcoming announcements. The partnership will see New Shop retail Thomson products across 35 cities in 18 states.

New Shop is also in the process of acquiring the 24Seven grocery and convenience retail chain, previously owned by Godfrey Phillips. This acquisition follows Godfrey Phillips' exit from the retail business last month, which involved 90 full-format outlets and 40 kiosks of 24Seven. Founded in 2019 by Aastha and Charak Almast with Mani Dev Gyawali, New Shop operates 160 stores across 35 cities, offering grocery staples, snacks, personal care, pet food, hygiene products, and over-the-counter medicines.

Aastha Almast, Co-founder and CEO, New Shop, declined to comment on Metavisio-Thomson's stake acquisition. However, she highlighted the partnership's impact, stating, "We are serving 3 million customers monthly, and this partnership expands both our product portfolio and presence."

The partnership aims to reach 2,000 points of sale within three years, with the first retail store openings slated for October. The distribution deal will ensure that all acquired stores sell grocery items and Thomson's notebooks, televisions, and tablets. (ET)

The Indian unit of French consumer technology company Metavisio-Thomson, known for selling affordable TVs, notebook computers, and tablets under the Thomson brand, is acquiring a minority stake in the convenience retail chain New Shop. This move follows a strategic distribution deal between Metavisio-Thomson and New Shop, aimed at jointly establishing 120 flagship stores in India's tier-2 and tier-3 markets. The deal, valued between $125 million and $150 million, is part of Metavisio-Thomson's broader push into India's rapidly growing hinterland markets. Last week, when the distribution deal was announced, Metavisio-Thomson hinted at major upcoming announcements. The partnership will see New Shop retail Thomson products across 35 cities in 18 states. New Shop is also in the process of acquiring the 24Seven grocery and convenience retail chain, previously owned by Godfrey Phillips. This acquisition follows Godfrey Phillips' exit from the retail business last month, which involved 90 full-format outlets and 40 kiosks of 24Seven. Founded in 2019 by Aastha and Charak Almast with Mani Dev Gyawali, New Shop operates 160 stores across 35 cities, offering grocery staples, snacks, personal care, pet food, hygiene products, and over-the-counter medicines. Aastha Almast, Co-founder and CEO, New Shop, declined to comment on Metavisio-Thomson's stake acquisition. However, she highlighted the partnership's impact, stating, We are serving 3 million customers monthly, and this partnership expands both our product portfolio and presence. The partnership aims to reach 2,000 points of sale within three years, with the first retail store openings slated for October. The distribution deal will ensure that all acquired stores sell grocery items and Thomson's notebooks, televisions, and tablets. (ET)

Related Stories

Gold Stories

Next Story
Real Estate

A Concrete Statement in Jubilee Hills

The Jubilee Hills residence is an exploration of structure as architecture, where mathematical precision, exposed concrete, and engineering discipline come together to create a bold and enduring built form.Constructed with Blushfarbe, HAACE’s bespoke concrete finish, the project demanded exceptional control, as every visible structural element was also required to perform as the final architectural surface. Deep reinforced concrete roof frames extend into the vertical façade, while precision-cast fluted surfaces, rhythmic vertical fins, circular columns, and a cantilevered staircase create ..

Next Story
Infrastructure Energy

Hindustan Zinc raises renewable power share to 22 per cent

Hindustan Zinc has increased the share of renewable energy in its overall power consumption to 22 per cent, up from around 18 per cent in FY26, as it advances towards sourcing 70 per cent of its power requirements from renewable sources by FY28.During FY26, the company generated 892 million units of green power, up from 632 million units in FY25. It has also expanded its round-the-clock renewable power arrangement with Serentica Renewables from 450 MW to 530 MW to support the transition.Hindustan Zinc is strengthening its renewable energy portfolio through solar, wind and energy storage soluti..

Next Story
Resources

Crompton unveils new brand identity and super-premium platform

Crompton Greaves Consumer Electricals Ltd. has unveiled a new master brand identity as part of its Crompton 2.0 transformation, alongside the launch of its super-premium brand Crompton Rhion and the strengthening of its Energion platform.The refreshed identity introduces Cephyr, a new emblem inspired by sapphire and Zephyrus, the Greek wind, representing Crompton’s evolution towards a design-led, consumer-centric brand. The new brand promise, ‘Amazing, Every Day’, is supported by a new sonic identity that will be rolled out across advertising, digital platforms, products and retail envir..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement