Shoppers Stop plans to open 15 stores this year
Department store chain Shoppers Stop is planning to strengthen its retail presence with the addition of 15 new stores plans over the next nine months across India.
The Raheja K-owned company also expects footfalls to increase resulting in the recovery of sales during the year on the back of its retail expansion. The company will focus on non-metro cities and plans to enter new cities with this expansion.
“We are looking to open 12 to 15 stores in the next nine months. We did close down three stores in this financial year but that cannot be attributed to Covid as it was part of the annual rationalisation of our portfolio,” Venugopal Nair, managing director and CEO of Shoppers Stop, told CNBC-TV18.
“The company is witnessing growth in footfalls with each passing month and the average bill value per customer is higher now. Normally December is a better month than January, but this time we saw higher footfalls in January than in December. Consumer confidence has improved with the vaccines being rolled out,” Venugopal added.
Shoppers Stop is the nation's leading premier retailer of fashion and beauty brands established in 1991, with around 89 department stores in 44 cities.
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