Home / Knowledge / News / Apparel/Garments / Rs 50 cr boost for Shoppers Stop to ramp up online biz
Rs 50 cr boost for Shoppers Stop to ramp up online biz
08
May '15
Retail giant Shoppers Stop is reportedly planning to invest Rs 50 crore in its e-commerce business in the next two years and is targeting to generate 10 per cent of its annual turnover from online retail.

Shoppers Stop is scaling up infrastructure, software, people and delivery systems to face e-commerce players who have been eating into sales of most of the brick and mortar retailers.

With 72 stores across 34 cities, Shoppers Stop reported an annual turnover of Rs 3,370 crore last fiscal. Its net profit rose 10 per cent to Rs 40.7 crore.

The company has recently appointed a new CEO, Sachin Oswal (co-founder and former chief operating officer of Infibeam), to head its online business.

With its omni channel strategy in place, Shoppers Stop will initially engage in e-commerce in places where its stores are physically present and then take it to tier II and III cities and even to international markets.

Shoppers Stop is already selling through sites like Jabong, but is not satisfied with the response it’s getting. The company says it is short of its online sales target. But even as it is firming up its online sales, the company has decided not to give discounts like other e-commerce players. (SH)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Jun 2021

UK, US strike deal on Airbus-Boeing tariff dispute

The United Kingdom has struck a deal with the United States on the...

Pic: Shutterstock

Textiles | On 18th Jun 2021

Bangladesh can save $500 mn annually by recycling cotton waste: CFP

Bangladesh's garment industry can reduce its annual spending by $0.5...

Pic: Shutterstock

Textiles | On 18th Jun 2021

Prime Content| Caprolactam price in Chinese market to rise moderately in 2021: TexPro

Price of caprolactam in Chinese market is expected to rise moderately ...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under our own supervision

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search