Shoppers Stop to pull shutter on its store at Ansal Plaza mall, Delhi

After deciding against becoming an anchor tenant at Atria Mall in South Mumbai, departmental store chain Shoppers Stop will close its store at Ansal Plaza in South Delhi. It will not renew its lease in the mall, where the company became first anchor tenant over a decade ago. The company has decided not to lease space at a mall owned by multiple owners.

Apart from focusing on driving growth for its group companies - HomeStop, Hypercity and Crossword over the next three years, the company also plans to boost the First Citizen loyalty program and establish exclusive and private brands, which it expects to contribute 2 to 10 percent and 15 to 25 percent sales respectively. Shoppers Stop has exclusive brand tie-ups with cricketer Virat Kohli's 'Wrogn', 'Desigual', and will launch few more this year, including Sonam Kapoor and Rhea Kapoor's brand, 'Rheason'.

The company operates 72 stores at the moment and will expand its network to take the number to about 90 stores in the next three years across the country, while reaching out to its target audience spread across over 8,000 pin codes in India through omni-channel strategy. The company has partnered with commerce platform provider 'Hybris' software, which will enable the retailer to deliver a real-time, impactful and relevant customer experience 'across touch points, channels and devices'.