Shoppers' Stop to open two stores in Gujarat

People in Ahmedabad will now have one more shopping destination with Shoppers' Stop Ltd planning to launch two stores in the city by May, 2006. The lifestyle major, under its expansion plans, also seeks to open 10 more stores in other states by June-July next year.

It is the first time that Shoppers' Stop is entering Gujarat.

"We have already zeroed in on properties for new Shoppers' Stop outlets. In last five months, we have acquired 14 new properties to expand our reach. We are hoping to launch first store in Ahmedabad around March 2006 and the other in May 2006," said Govind Shrikhande, customer care associate and chief operating officer, Shoppers' Stop.

Shoppers' Stop had recently announced its initial public offer of 69.46 lakh equity shares of Rs 10 each and has fixed the price band between Rs 210 and Rs 250 on April 27. The funds thus raised will be used for renovating three stores and for launching the new projects.

At present, Shoppers' Stop has 16 stores that are located in metros like Mumbai and Delhi. However, as part of the expansion drive, Shoppers' Stop is also eyeing Hyderabad and Kolkata for its new stores.

The chain is also considering the idea of commissioning stores in India. "In India, only two per cent of the retailing is in the hands of the organised sector. We are also planning to commission 12 more stores to meet the increasing demand," said C D Navalkar, chief financial officer. However, Navalkar avoided divulging financial details in this regard.

Talking about talent pull in the organised retail sector, Navalkar said, "We require skilled manpower. There is no dearth of talent pool for the industry but we have to train people to adopt the culture of Shoppers' Stop.

"We are looking forward to recruit freshers so as to mould them according to our needs," said Navlakar.