Shoppers Stop is among a host of Indian conglomerates including Tata Group, Reliance Retail, and Aditya Birla Group that have been doubling down on their value fashion offerings in recent years to cash in on the enormous market for value-seeking middle-class Indians
New Delhi: Shoppers Stop is adopting an “aggressive” expansion plan for Intune and it targets to take the number of the value retailing format to 100 stores by the end of fiscal year (FY) 2024-25, a top official said.
“Intune is a strategic pillar of growth for Shoppers Stop, and we are looking at an aggressive expansion,” said Kavindra Mishra, chief executive officer of Shoppers Stop. “We plan to add 80 stores in FY 2025, which will take the Intune store count to 100 by the end of FY 2025.”
Shoppers Stop is among the host of Indian conglomerates including Tata Group, Reliance Retail and Aditya Birla Group that have been doubling down on their value fashion offerings in recent years in a bid to cash in on the enormous market for value-seeking middle-class Indians.
The segment came into a renewed limelight, especially after the runaway success of Trent Ltd.’s Zudio, which over the years, has been redefining India’s value fashion market.
Seven-year-old Zudio has already surpassed Rs 7,000 crore annual business in the FY 2024 and it contributes a chunk of Trent’s yearly revenue at present, catapulting the retail arm’s market cap to more than $5 billion.
Similarly, Reliance Retail is voting with its wallet to beef up its own value portfolio and is planning to roll out 200-250 stores of its value retail format Yousta in the coming years that will compete directly with Zudio and Intune chains, IndiaRetailing had reported in July 2023. Read more about it here.
Last year, Shoppers Stop, a BSE-listed operator of an eponymous department store chain, also entered the fray by introducing Intune. So far, the Mumbai-based listed retailer has opened about 20 such value fashion format outlets in various cities.
Then in June, media reports quoted Shoppers Stop’s Mishra as saying the Mumbai company had received “higher-than-expected results” in the first nine months of Intune’s operation.
Based on the response, the company now plans to shift into higher gears to expand Intune. “We plan to take a cluster approach for extensive growth from the current 14 cities,” Mishra told IndiaRetailing on Thursday. “We see a very (big) potential and we plan to go aggressive in expanding the Intune network.”
A source familiar with the plans said Shoppers Stop plans to open as much as two dozen of Intune in north India this fiscal.
