Shoppers Stop Ltd, a leading fashion and lifestyle retailer from K Raheja Corp, is aiming to reach Rs 4,000 crore turnover mark in the next 3 years from the current Rs 1,568 crore (FY 2009-10). The company is eyeing 25 to 30 per cent year-on-year (YoY) revenue growth over the next five years.
The company is also planning to open 26 new large-format departmental stores under the Shoppers Stop brand in the next 24-30 months with a total investment of around Rs 260 crore. The company, which has recently opened its new large-format departmental store in Aurangabad with a retail space of 45,000 sqft., has now 34 stores in 15 cities across the country, including 11 stores in Maharashtra.
"We are eyeing 25-30 per cent year-on-year growth over the next five years. We are expecting to touch Rs 4,000 crore mark in the next 3 years," said a top company official, who did not want to be identified.
"Presently, we have 34 departmental stores with total retail space of 2 million sq.ft. and we are adding another 2 million retail space in the next 24-30 months. We intend to launch 26 new departmental stores under the Shoppers Stop brand, including two each in Mumbai, Pune and Bangalore, one each in Vijaywada, Durgapur, Siliguri, Indore and Raipur. An average investment in each store will be around Rs 10 crore to Rs 12 crore," he said.
