Shoppers Stop to increase retail space in 4 years

Shoppers Stop which launched their 7th store in the Delhi-NCR in Vasant Kunj’s Ambience Mall, is looking to expand its total retail space from the current 1.9 million sq ft to a commanding 3.5 million sq ft in the next four years, said Mr. Govind Shrikhande, Customer Care Associate and Managing Director, on the sidelines of the launch. Shoppers Stop new store
which has a retail space of 75,000 sq ft, houses an irresistible range of fashionable merchandise across categories like Beauty, Personal Accessories, Jewellery, Apparels – men’s, ladies and kids and Denims.

The expansion spree will see Shoppers Stop investing Rs 500 crore to introduce 40 new stores across the country, in the next four years time.

The company which has 33 Shoppers Stop outlets also plans to add 10-12 new stores in this fiscal with an investment of Rs 120 crores.

Speaking on the occasion Mr. Shrikhande told that north continues to be the most important market for Shoppers Stop which has shown a growth of 40% as compared to 20-25% growth showed by the rest. There will be an immediate expansion in cities like Jalandhar, Ludhiana and Chandigarh. The majority of expansion will be seen in the cities where Shoppers Stop has been already present.

The retailer which has opened 3 stores in the last 10 days in Bhopal, Bangalore and Delhi respectively is expecting to touch sales of Rs 1,800 crores in this financial year as compared to Rs 1,578 crore last year.

The K Raheja Group’s retailer which is not considering the franchise route for their retail outlet believes that selling licensed merchandise in their store has always been a huge success as the consumers connect with them and they would like to continue that in future as well.