New Delhi, Feb 26 (UNI) Shoppers Stop has tied up with HyperCity Retail (I) Pvt Ltd to develop Argos retail format of catalogue stores in India, with an exclusive franchise from the United Kingdom-based Home Retail Group.

Argos is among the leading general merchandise retailers in the UK and Ireland, and operates catalogue stores along with home shopping and online retail.

''The retail format of Argos is particularly suited to the urban, densely populated areas, where retail space is expensive and limited in supply. Home Retail Group has developed the capability to manage this unique and highly successful retail format very efficiently and through the franchise arrangement we shall jointly adapt this capability to the Indian environment,'' Shoppers Stop Managing Director B S Nagesh said in a statement issued to BSE.

The stores and the catalogue set up under the tie-up will be branded HyperCITY-Argos and will be operated by a special purpose vehicle jointly owned by the company and HyperCITY Retail.

The business would be initially launched in the Mumbai region and will be rolled out nationally in the long term.

UNI