Thursday, December 17, 2009

Shopper's Stop to invest Rs 350 crore in 5 years


Retail chain Shopper's Stop plans to invest Rs 350 crore to set up 32 stores and augment its pan-India network, taking the total to 60 over the next five years, a top company official said.

"We have drawn up investment plans of Rs 200 crore for adding 18 new stores with about three million square feet in the next three-years period," President & CEO of Shopper's Stop Govind Shrikhande told PTI here.

The stores will be opened at Ahmedabad, Amritsar, Mysore, Mangalore, Aurangabad, Chandigarh and other Tier II cities, Shrikhande said.

A further Rs 150 crore has been earmarked to add 14 more stores but plans for this are still in the preliminary stage, he said.

At present, the retail chain has a network of 28 stores in 12 cities all across the country over an area of 1.88 million sq feet.

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