Shoppers Stop is opening premium outlets across top metros to draw millennial shoppers seeking latest in fashion. The retail chain has been working on two new store formats over the last few months and is upgrading existing stores. The retailer with 84 department stores across 40 cities will add another half-a- dozen premium formats in top metros over the next few years. The next few stores will be modern and in line with changing aspirations of customers.
Shoppers Stop has also significantly increased its store opening guidance for the year, increasing the earlier forecast of four or five stores to eight or ten this financial year. Moreover, the chain will open 40 new beauty doors (a mix of shop-in-shops and standalone stores) this fiscal year to capture the growing trend among urban Indian shoppers to upgrade to more premium beauty products. In all, it has over 120 beauty point of sales in India, including standalone stores and shop-in-shops.
The retail chain has rights to operate and sell beauty brands of Estée Lauder, which include MAC, Clinique, Bobbi Brown, Smashbox and Estee Lauder. The chain also runs home furnishing stores under Home Stop. The retailer has also intensified its focus on private labels with a large in-house team of designers.