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)

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?