Sustainability must be thought about by every individual as well as organizations. Reducing consumption of depleting resources...
Govind Shrikhande, Managing Director of Shoppers Stop Ltd., shares some facts about the Indian apparel retail market in an interview with Fibre2Fashion Correspondent Manushi Gandhi. Synopsis: Shoppers Stop Ltd. is an Indian department store chain promoted by the K Raheja Corp Group. It was founded in 1991 and its annual revenue is more than 300 million USD. It has about 61 stores across India and employs about 14000 people. It retails a wide range of branded apparels. The Nuance Group - one of the leading airport retailers in the world and Shoppers Stop Ltd. have formed a Joint Venture called Nuance Group India Pvt. Ltd. (NGIPL), which operates the Duty Free stores at Bangalore International Airport. Mr.Govind Shrikhande is the Customer Care Associate & Managing Director of Shoppers Stop Limited. He has been in the company for more than 13 years. He started his association with the company as the Vice President of Buying & Merchandising function and has since grown within the company managing roles of the Chief Operating Officer. Before joining Shoppers Stop Ltd, he has been associated with Mafatlal and Johnson & Johnson in the past. He was part of the team that launched Arvind Denim & Arrow. Excerpts:
Nearly 15% of Shoppers Stop (SS) net worth is invested in IT. Can you tell us how this investment has helped your business? Please enlighten us about what technological transformations have taken place at SS over the last few years?
Indian market and Indian population is very diverse, so do you think that the demand is also very diverse and differs from region to region? According to you, what is the Indian apparel consumption trend at present?
Huge retail stores face a lot of problem of theft, loss of goods etc. Do you think this is a global problem or just limited to few regions? What is the solution to this problem?
The cost of Indian Rupee has been very much fluctuating over the past few months. Over the time the inflation has also increased in the country. Has this affected the Indian retail sector?
What is the role of sustainability in the company’s business and how it ensures to build a sustainable and ethical supply chain?
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.