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Shoppers Stop to open 24 new outlets
16
Jun '11
Shoppers Stop has announced that it will add 24 new stores to its already existing tally of 38 stores across the country. The company has made expansion plans as the retail sector is presently growing at an annual rate of nearly 35 percent.

The K Raheja Group-owned retailer is planning to open the new stores in the next three years. In the current fiscal, the company will be opening 8-9 Shoppers Stop stores in the country. It plans to achieve the target of 24 new stores by fiscal year 2014.

By fiscal year 2014, the company has projected to increase its total retail space to 3.6 million square feet from the present about 2.3 million square feet.

Apart from metropolitan cities, the company will also open new stores in Tier II cities to take its total tally of stores to 62.

Besides the Shoppers Stop departmental stores, the company has five exclusive retail brand outlets - Home Stop for home furnishing products, Mothercare for baby care items, Crosswords for books and music, Estee Lauder and MAC, both for cosmetics.

To increase its sale of home furnishing items, the company is planning to open four new Home Stop stores by the end of March 2012.

Fibre2fashion News Desk - India

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