The Hindu : Business : Shoppers Stop to open new stores

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Wednesday, Aug 11, 2010
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Business

Shoppers Stop to open new stores

Special Correspondent

To invest
Rs. 500 crore
in the next
four years

NEW DELHI: Fashion and lifestyle retailer Shoppers Stop on Tuesday said it would invest Rs.500 crore to open 40 new stores across the country in the next four years.

The company also plans to tie up with leading international and domestic brands to add to its portfolio of products available at its stores.

“In the current fiscal, we will invest about Rs.180 crore for opening about a dozen departmental stores under the Shoppers Stop brand and four HyperCity hypermarkets. We have now 32 Shoppers Stop in 13 cities outlets and in the next four years we hope to have total 60 stores covering at least 25 cities,” Shoppers Stop Customer Care Associate and Managing Director Govind Shrikhande told journalists here after launching a new store here, its seventh in the Capital and adjoining townships.

HyperCity stores

The retailer also plans to add 3-4 HyperCity stores every year. “We have now seven HyperCity stores and we plan to open new stores by investing around Rs.15 crore on each HyperCity store,” he said.

Besides, Shoppers Stop and HyperCity, the company operates other formats including shop-in-shop stores like HomeStop (home furnishing), Crossword (bookstores), M.A.C (cosmetics), Airport Retailing and Mothercare (maternity, baby and childcare products).

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