Shoppers Stop is planning to accelerate its beauty business this year as it plans to open at least 10-15 standalone SS Beauty stores.
Currently, Shoppers Stop department stores have large beauty sections, where it operates the Estee Lauder standalone beauty stores of MAC Cosmetics, Estee Lauder, Clinique, Bobbi Brown, Jo Malone, and Too Faced. About 17 per cent of its sales comes from the beauty segment.
Speaking to BusinessLine, Venu Nair - MD & CEO - Shoppers Stop, said that post-Covid, Shoppers Stop has managed to reach profitability. Now, it plans to keep up the pace, and maintain the trajectory, he explained. “Our pipeline is very strong for FY23 where we expect to do at least 12 to 15 stores. Expansion is something which we are going very strongly.”
70 new brands
In this financial year, Shoppers Stop brought in 70 new brands into its portfolio, some of them available only online, some available both online and offline.
“This is the area which we will continue to invest in and bring in additional brands which are new to the country and helps us give a different experience to our customers. In the last quarter alone, we brought in 28 new brands. We’ve set our target for ourselves to have 90 brands for the full financial year and we are well on track to be able to achieve that,” Nair said.
Shoppers Stop launched standalone SS Beauty stores recently, “and this is something which we intend to double soon. Our plans for beauty are very aggressive,” he explained.
Arcelia is the company’s private beauty label and that’s another area it plans to doubling down on. It started off with a bath and body line of products which had been launched in Q2 of last year. In Q3FY22, the company also fragrances.
“This month we will be launching our nail polishes, which will be followed by lips and then eyes and skin to complete the entire portfolio of make up by May. With Arcelia, we will continue to grow anywhere 200-250 options we would have on this as we go forward,” Nair added.