Department store chain, Shoppers Stop plans to increase its store count to 66 by the end of 2013. It recently opened its 49th store in India at R City Mall, Ghatkopar, Mumbai. With this newly-opened 75,000 sq.ft. store, the retailer plans to open more stores in the suburban areas of metropolitan cities.
Speaking on the occasion, Govind Shrikhande, Customer Care Associate and Managing Director, Shoppers Stop, said: “With a large number of customers from Ghatkopar and Powai, who are a part of our loyalty programme First Citizen, the company thought of opening a store in this catchment area. In future, we are also planning to launch more stores in areas where our customer base is strong.”
The rise in the chain’s apparel prices saw a decrease in sales during Diwali. Shrikhande said: “Even though sales had dropped, we noticed that the figures from the women’s section were pretty good. So, we brought in new collections and new brands more often, to make profits even at such a crucial time.”
Expressing his views on FDI in retail, he said that discussions should be carried out among retailers and then a conclusion should be made. “FDI will definitely help India grow. Retailers and farmers will only have a profitable business if FDI is allowed with the right rules and regulations. The global companies should be asked to source more from India, which will help our manufacturers do good business,” added Shrikhande.
The company is expecting a turnover of at least Rs 2,200 crores by the end of this financial year and will soon open its 50th store in Bangalore by the end of 2011.