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Sunday, May 20, 2001   

Shoppers Stop plans Rs 1,000 cr turnover by 2004

Our Bureau

Pune, May 19: SHOPPER’S Stop Ltd is aiming to cross the Rs 1,000-crore sales turnover mark by 2004. As on March 2001, Shopper’s Stop’s turnover was Rs 213 crore and it hopes to reach the milestone by opening four to six stores every year. The K Raheja Corporation retail chain opened its eighth store in the country at Pune on Saturday.

Two more stores are planned in Mumbai at Bandra and Kandivali this year and one in Kolkata next year.
“After this, our focus will be on consolidating and expanding in cities we are already present. There is so much opportunity in these cities and it is not enough to have one store,” customer care associate and vice-president (operations) Harit Nagpal said.

An investment of around Rs 12 crore has gone into Shopper’s Stop’s Pune outlet.

Located at a distance from the main shopping centre of the city, the store was not expected to attract walk-in customers. Mr Nagpal said that the effort would be to create the store at a new destination. The 40,000-sq ft shopping space, across four floors, with 150 brands and the in-house label ‘Stop’, is expected to pull in the crowd.

It will also house Cafe Ritaaza, an Italian coffee bar and the Gautier furniture shop. For the first time, Shoppers’ Stop will be playing with specific moods for each floor, rather than dividing the space on a gender basis.

The flagship store set up in Andheri, Mumbai in 1991, still contributes around 35 per cent of the chain’s turnover. With presence in Bangalore, Hyderabad, Jaipur, New Delhi and Chennai, the chain has over 3,00,000 sq ft of retail space.


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