Managing director of Shoppers Stop, Govind Shrikhande told CNBC-TV18 that they expect to see a 20-25% topline growth for this fiscal year. He also said that they would add between 22-30 stores in next three years' time as a part of their expansion.
"We would near around 50 stores this year-end and would add another 16 stores in next two years' time," he added. Below is the edited transcript of his interview. Also watch the accompanying video. Q: Due to the festive season approaching, how do you foresee response? Would you expect sales to go up significantly for Shoppers Stop or will there be a slight moderation in demand?
A: Festive season is always the important season for all retailers and companies connected with consumers. Every year, we have seen a good response during the festive season.
The festive season kicks off with Ganpati in west and continues with Durga puja, Dassera, Diwali, Christmas and New Year. As every year, we expect a good festive season ahead. Q: How was the sale period? Usually, pre-festival is a sale period for you?
A: The summer and winter sale have been showing a very good response in the last few years. We have also seen a lot of new customers during the sale period.
As we have changed our positioning more towards the higher-end
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