Despite a challenging economic environment, Shoppers Stop is looking at ways to enrich future stores by expanding its presence and investing in technology. The company is on track to achieve its target of opening 50 stores in the current financial year. The company added 15 stores in the third quarter of FY20, taking the total footprint to 89 department stores and 135 Beauty doors across 42 cities in the country as of December, 31st 2019. Approximately, 60% of the yearly sales are derived from the company’s own brands.
The company is betting big on the beauty space and hence they are expanding aggressively in that vertical. In the last quarter, beauty segment of Shoppers Stop grew 9.6% and this growth will sustain in the forthcoming quarters on the back of new beauty stores, upgrading the beauty experience in existing stores, the launch of new brands and strong omnichannel support. The company has launched four new brands in the beauty segment. Within the beauty retail business, Shoppers Stop has brought together beauty brands like MAC, Clinique, KIKO Milano, Bvlgari and Armani, among others. During the current fiscal, the company has also made investments worth Rs 30 crore (US$4.8mn) in Digital and Information Technology Transformation.