Multi-brand fashion, beauty, and lifestyle department store Shoppers Stop is eyeing India’s swift growing luxury retail market. The business is looking into opening large-format outlets this fiscal year which would also house Aditya Birla Group’s premium offering The Collective
Since its inception over three decades ago, Shoppers Stop has been mostly selling for the luxury segment. Kavindra Mishra, CEO of Shoppers Stop stated,” For us, premiumisation is not just selling luxury products, but if a person has shifted its buying from roadside to the mall, it is also premiumisation.”
The company plans to launch two luxury outlets, one could be in Kolkata and the other in Mumbai. The new format will also include Aditya Birla’s The Collective as one of their stores.
Shoppers Stop is targeting 55 per cent of the contribution from premium brands in the current fiscal, up from 47 per cent FY ’24. In footprint expansion, Shoppers Stop has invested 246 Crore of capital expenditure.
Additionally, it has renovated 13 stores with 55 stores already opened bringing 71 per cent of department stores under its new brand identity.
