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Buoyed by rapid growth in the retail industry, K. Raheja Group-owned Shoppers Stop plans to open 24 stores by FY 14, a senior company official said. “We plan to open 24 new stores in the next three years. To start with, we would be opening 8-9 Shoppers Stop stores in the current fiscal,” Group Chief Financial Officer, Mr C. B. Navalkar, told PTI here.
At present, the company has 38 stores across the country, with a total retail space of about 2.3-million square feet. “The retail industry is growing by around 30-35 per cent every year. We estimate that by FY 14, we will have 62 stores operational with a total retail space of 3.6-million square feet. Apart from expanding in metros, we will also enter Tier-II cities,” he said. Apart from the Shoppers Stop departmental stores, the company has five specialty retail formats like Home Stop (home furnishing), Mothercare (baby care), Crosswords (books & music), Estee Lauder (cosmetics) and Mac (cosmetics).
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