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Journalism of Courage
Retail chain Shopper’s Stop plans to invest Rs 350 crore to set up 32 stores and augment its pan-India network,taking the total to 60 over the next five years,a top company official said.
“We have drawn up investment plans of Rs 200 crore for adding 18 new stores with about three million square feet in the next three-years period,” President & CEO of Shopper’s Stop Govind Shrikhande said in Mumbai.
The stores will be opened at Ahmedabad,Amritsar,Mysore,Mangalore,Aurangabad,Chandigarh and other Tier II cities,Shrikhande said.
A further Rs 150 crore has been earmarked to add 14 more stores but plans for this are still in the preliminary stage,he said.
At present,the retail chain has a network of 28 stores in 12 cities all across the country over an area of 1.88 million sq feet.
The company,launched Europe’s first denim brand,Mustang in the city,plans to introduce more foreign brands in the near future,the official said.
On its private labels business,Shrikhande said that its contribution to the company’s sales this year fell to 17 per cent against 20 per cent in the last year.
