Shoppers Stop will be launching five new stores in FY19 in the department format, and a dozen stores in the beauty format, said Managing Director Govind Shrikhande.
He believes FY19 could bring back the growth in retail, post demonetisation and implementation of goods and services tax (GST).
Shrikhande was speaking on the sidelines of two-day Retail Leadership Summit held in Mumbai today.
He further said the company is targeting a 7.5-8 percent like-to-like growth in the coming year, and a 10-11 percent top-line growth.
Speaking about the company’s debt, Shrikhande said, “We have less than 50 crore of debt in Jan end, and will be completely debt free by Q3FY19.”
The company has two core businesses but is not looking to divest in any more business as of now.
The department stores chain will start multiple marketing initiatives starting Q2FY19.
Shoppers stop catalogue will start reflecting on the Amazon.in website by April-May,
“We will look at sharing exact growth numbers from sales on Amazon.in after a one year period,” said Shrikhande.
When asked about Amazon's stake in Shoppers Stop, he said, "We have not discussed increase in stake with Amazon. We are also not speculating on if Amazon will look at increasing stake in Shoppers Stop.”
The American e-commerce giant picked 5 percent stake in Shoppers Stop last year.
The company will be investing Rs 120-130 crore in FY19 and according to him, private labels will contribute 15 percent share in revenue from 9 percent now.
Shrikhande expects FY19 to be better than FY18.
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