Shoppers stop which has 28 stores in 12 cities with an operational area of 1.88 million sq.ft, plans to invest Rs 350 crores to set up an additional 32 stores and augment its pan India network. The company is expected to take up the total store count to 60 in the next five years.
The new stores will open at Mysore, Mangalore, Aurangabad, Ahmedabad, Amritsar, Chandigarh and other Tier 2 cities. An additional Rs 150 crore has been earmarked to add 14 stores.
“We have drawn up investment plans of Rs 200 crore for adding 18 new stores with approximately 3 million sq.ft in the next three years”, said Govind Shrikhande, President & CEO of Shopper’s Stop.
The company, launched Europe’s first denim brand, Mustang in the city, plans to introduce more foreign brands in the near future, the official said.
On its private labels business, Shrikhande said that its contribution to the company’s sales this year fell to 17 per cent against 20 per cent in the last year.
Posted by Retail News From Financial Express on December 17, 2009
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