Govind Shrikhande news and archive

Shoppers Stop indicates sluggish fiscal end

Keeping the current adverse scenario in mind, Shoppers Stop’s Managing Director, Govind Shrikhande has indicated that the same-store sales are likely to experience a sharp fall from 12 per cent to six to seven per cent by end of the fiscal year, along with the entire retail industry witnessing stagnant growth during the next fiscal. He feels,...

Apparel

Shoppers Stop turnover at Rs 174 million

Shoppers Stop (SSL) posted a gross retail turnover of Rs 5.08 billion for the quarter that ended on September 30, 2010, registering a jump of 23 per cent from the second quarter of 2010. SSL’s net profit for the quarter stood at Rs 174 million against Rs 121 million, which is up by 44 per cent compared to the same period last year. As the...

Fashion

Union Budget disappoints India’s textiles and clothing sector

The Union Budget for the year 2010-11 has received mixed reactions from the Indian textile and clothing industry. Of course, the Union textiles minister Dayanidhi Maran, has hailed the Budget saying the initiatives will lead to economic revival, infrastructural and agricultural development, inclusive growth and restoring export growth. He is...

Apparel

Levi’s installment plan attracts other brands

Levi Strauss clever marketing strategy of offering an installment plan to buy jeans and other products in India seems to have worked wonders. The brand’s sales have gone up while their products have become more affordable to the customers. The smart selling strategy introduced last September is now being emulated by many other leading apparel...

Fashion

Shoppers Stop to open 18 new stores

Shoppers Stop, India’s leading departmental store chain has already put the slowdown behind it and is drawing up aggressive expansion plans. In the next 30 months, Shoppers Stop plans to open 18 new stores and invest around Rs 200 crore in these stores. “These stores would be spread all over India. New cities that we are looking at are --...