For the nine months ended December 2019, Shoppers Stop topline dropped 1.9 per cent over the year-ago period. Operating profits grew 66 per cent. While the apparels and accessories segments contribute 65 per cent and 19 per cent, respectively, to overall sales at Shoppers Stop, this revenue mix could change in the future with the beauty business growing steadily.
Overall, the company is likely to add around 15 stores this year and 15 in the next year in the beauty segment. The company is also pushing omni-channel retail. Its strategy as far as online retail goes is to give customers a single window where they can see all the products. However, if consumers wish to buy offline, they can do so with the help from the store locator option on the website.
Shoppers Stop, the country’s oldest department store chain, is looking to grow its beauty business. The company has standalone beauty stores as well as shop-in-shops and beauty counters within its department stores, promoting local as well as international brands. It exclusively retails some of the world’s top beauty products, including Estee Lauder, MAC, Clinique and Bobby Brown in India, with the segment accounting for 16 per cent of overall sales.