Shoppers Stop eyes smaller cities for new stores
11 Aug 2010
Retail chain Shoppers Stop is looking to expand its stores by foraying into smaller cities. The cities on its radar include Ahmedabad, Aurangabad, Jalandhar, Ludhania, Mysore and Vijayawada.
The K Raheja-owned group is looking to open 10-12 stores by the year end and will be investing around 120 crore for the same.
Shoppers Stop's managing director, Govind Shrikhande talked about the company's plans at the launch of its new department store at Vasant Kunj in Delhi. He added that the company was eyeing the NCR area as the retail chain had seen substantial sales in the region even during the economic slump.
The company plans to increase its store count from 33 stores in 14 cities to 60 stores at an overall investment of Rs500 crore in the next four years.
Besides department stores, it is also looking at opening four stores of its hypermarket chain, HyperCity. It plans to add four stores of the hypermarket chain every year at a cost of Rs15 crore per store.
Shoppers Stop operates formats like HomeStop, Crossword bookstores, M.A.C cosmetics and Mothercare.
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