A German architecture and design, store branding and communication firm has worked on the new concept
Shoppers Stop, one of the leading retailers of fashion and lifestyle products, is adopting a new store design concept for its department stores across the country. A German architecture and design, store branding and communication firm has worked on the new concept and the first store has been opened a couple of weeks ago in Ambience Mall Vasant Kunj, New Delhi.
Rajiv Suri, customer care associate, managing director and chief executive officer, Shoppers Stop Ltd, told DNA Money, the objective behind this exercise was to upgrade the shopping experience at our stores. "We engaged Schwitzke to help us conceive this concept that offers a modern shopping experience to our customers in line with what is happening globally. Carrying all our categories and spread across 60,000 square feet, the new outlet opened in Delhi, reflects the latest aesthetics in-store design," said Suri.
The new design concept is restricted to the retailers' department store format as all its other outlets are brand stores and come with their own concept. The new format, Suri said, is meant for all the new department stores that will be opened going forward.
"Every year, we open between five and seven department stores. These will all be rolled out in the new design format. Anywhere between five and seven existing stores will also get renovated annually to upgrade the shopping experience. It will take us some time to renovate all the department stores but I think there will be continuous evolution on the concept itself. There could be another upgrade to this concept considering frequent and constant changes in digitisation. So there will be small amendments/ updates as we go on," said Suri adding that there are 83 Shoppers Stop stores (as on March 31, 2019) across the country.
The company follows a capital expenditure (capex) cycle and existing stores will be undertaken for renovation based on the same thus keeping their profitability inline with expectations. "In the meanwhile, certain design touches and visual elements could get added in the stores to spruce them up a bit," said Suri.
Shoppers Stop has earmarked a capex of between Rs 140 crore and Rs 150 crore for the current fiscal. A third of this will go in setting up new stores and almost a similar amount for upgrading and renovation of existing stores. The balance will be for information technology (IT) systems and other expenses," said Suri.
The company will roughly open 25 stores this fiscal of which 15-20 will be beauty and cosmetics stores, and six to seven department stores. In fact, 16 to 17 beauty and cosmetics sections in the existing department stores will get upgraded in terms of improvement and upgradation of product mix over the next 18 to 24 months.
"That's going to help us remain competitive and provide a compelling shopping experience. This apart, we will continue to roll out branded beauty and cosmetics stores viz. MAC, Estee Lauder, Bobbi Brown and Clinique to expand our presence in the premium to luxury market segment," said Suri adding that beauty currently contributes 17% to the retailer's overall revenues and the company management is expecting double digit growth going forward.
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