Mumbai: Leading retail chain, Shopper`s Stop, plans to invest Rs 350 crore to set up 32 new stores and up its pan-India network to 60 in 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," Shrikhande told PTI here.
The stores will be opened at Ahmedabad, Amritsar,
Mangalore, Mysore, Aurangabad, Chandigarh and other Tier II
cities, he 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.
Presently, the retail chain has a network of 28 stores
in 12 cities across the country occupying an aggregate area of
over 1.88 million sq feet.
The company, which launched Europe`s first denim
brand, Mustang, in the city yesterday, plans to launch more
foreign brands in the near future, the Shopper`s Stop official
On its private labels business, Shrikhande said that
its contribution to the company`s sales this year so far has
fallen to 17 per cent as against 20 per cent last year.