Retailing giant Shoppers Stop Limited (SSL) has opened its first retail outlet in Gujarat at Ahmedabad on Wednesday.
The company will open eight more retail outlets across the country during the current financial year, taking the total number of large format retail outlets to 50 by March 2012 from the current 46.
"We expect healthy growth in the second quarter, however the announcement will be made after our board meeting soon," said Govind Shrikhande, managing director, SSL.
In first quarter, company’s turnover stood at Rs 446 crore on standalone basis. The industry growth rate is pegged at about 8-10 per cent in the current market conditions. The large format SSL stores would offer premium international and Indian brands in personal accessories such as Tommy Hilfiger, DKNY, Espirit, Guess, Prada, Armani and FCUK. Also, Jack & Jones, UCB and Austin Reed are being sold at this new store.
"We are getting more business from branded segment than non-branded segment. The share of branded segment in our total revenue is more than 80 per cent and we look forward to continue the same in future," said Shrikhande.