Shoppers Stop is focusing on expanding its beauty stores like Mac, Estee Lauder, Bobbi Brown and Smashbox and plans to add 10 to 12 stores. The company is focusing on expanding in Tier II and Tier III cities, Rajiv Suri, managing director and chief executive officer, Shoppers Stop, discusses with FE. Excerpts:
How is the overall demand and any particular festive offer you plan to give?
We are starting pujo festive offer in the eastern part of the country as that is what our customers are expecting.
In other parts of the country we will not have any offer but we will focus on wardrobe refresh and will launch new styles as this is the time women want to look the best and purchase clothes which are in fashion rather than buying discounted old stocks.
What is the kind of response you are getting on the Amazon platform?
We have just started selling on Amazon and have already got more than 200 brands on the platform.
Amazon too has opened 3 kiosks in our stores and would like to open 12 more kiosks by the end of this year.
It is too early to comment on the response.
What is your focus area in terms of expansion?
We plan to add 5 departmental stores this year but our focus will be on women’s beauty stores and we will add around 10 to 12 beauty stores with brands like Mac, Estee Lauder, Bobbi Brown, Smashbox, among others.
Our focus is to grow in Tier II and Tier III cities faster and we are getting good response from these locations.
Are you looking at any acquisition? Your share prices have rallied in the last couple of months. Any particular reason?
It is the general market sentiment and FDI investments coming in the sector that is driving the positive sentiment. There is renewed interest in the sector post the Walmart-Flipkart deal.
How much have you invested for omni-channel? How is it performing?
We have invested around Rs 60 crore on the integration. We sell online but customers still visit the stores for things like alteration and others.
Customers can buy online and pick the product from the stores.