Shoppers' Stop to expand luxury retail chain
20 Dec 2006
Shoppers' Stop is expanding with a chain of luxury retail stores. What is of significance is that the chain could house more than 40 global brands, says CNBC-TV18.
After Mother Care, Hypercity and Home Stop, there's a luxury retail concept in store at Shoppers' Stop. Company sources say it has tied up with 40 leading global brands to retail them including Louis Vuitton, Gucci, Armani, Moschino, Paul Smith, YSL, Ralph Lauren, Roberto Cavalli, Paciotti, Hugo Boss, Diesel, Mont Blanc and others.
Louis Vuitton and Ralph Lauren, Mont Blanc, Christian Dior and more are expected to snuggle together under one roof in this new chain.
We also heard that Shoppers' Stop will invest Rs500 crore in the chain. The first store is due next year in Delhi, followed by others in Bangalore and Mumbai. It has apparently bought property in Delhi and Mumbai and sources say it's in talks with the Prestige Group for space in Bangalore.
It expects the venture to contribute significantly. By 2008 revenues are expected to reach over a thousand crore rupees. A third of this is seen to come from the luxury chain.
The luxury market comprises just one percent of India's retail portfolio, most of it being in the grey market.
But experts believe the segment will grow as the economy blooms and luxury brands become more easily available. It''s seen to grow at 50 percent a year over the next decade.