Shopper’s Stop chalks out Rs 350-cr investment plan

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. 
 
It has drawn up investment plans of Rs 200 crore for adding 18 new stores with about three million square feet in the next three-year period at Ahmedabad, Amritsar, Mysore, Mangalore, Aurangabad, Chandigarh and other Tier II cities. A further Rs 150 crore has been earmarked to add 14 more stores but plans for this are still in the preliminary stage. 
 
At present, the retail chain has a network of 28 stores in 12 cities over an area of 1.88 million sq feet. On its private labels business, its contribution to the company’s sales this year fell to 17 per cent against 20 per cent last year.