Shoppers’ Stop to invest Rs. 125 crore in new stores

Shoppers-StopShoppers' Stop, the retail brand of the group promoted by K Raheja, has said on Wednesday that it will be making Rs. 125 crore of capital expenditure. This money is going to be spent in opening new stores.

As many as 12 new stores are expected to be opened during this fiscal, a top official of the company said to the media.

Talking to the reporters about this development, Govind Shrikhande, CEO of Shoppers' Stop said that between 8-12 stores will be opened by the company. Most of these stores, Govind said would be opened in the metros.

He further added that it would also start focusing on Tier II cities so that it can tap the underlying potential there.

Govind made this announcement during the sidelines of the India Shopping Forum.

The retail industry has of late caught up high rate of growth. And with the recovery happening in the sector, it is one of the sectors which is expected to show very good performance.

Meanwhile, currently Shoppers' Stop has just 29 stores across India. These include the three opened in Amritsar just a few months back.