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The company will also focus more on artificial intelligence to understand consumer behavior.
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The Retail Leadership Summit is underway in Mumbai and from the sidelines Priya Sheth caught up with the MD of Shoppers Stop, Govind Shrikhande and asked him about his outlook for FY19.
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The Cabinet on Wednesday allowed 100 percent foreign direct investment (FDI) under the automatic route for single-brand retail. To discuss in detail what would be the positive impact of the above development on ground for the retail companies CNBC-TV18 spoke to Rakesh Biyani, Joint MD, Future Retail, J Suresh, MD and CEO, Arvind Lifestyle Brands and to know the impact on their growth and stock prices, they spoke to Abneesh Roy, Senior VP, Edelweiss Securities.
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Looking at an interesting relational ship through this tie-up with Shopper's Stop as a group and Raheja family, said Kishore Biyani of Future Group.
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In an interview to CNBC-TV18, Lalit Agarwal, CMD of V-Mart Retail spoke about the latest happenings in the company and sector and also shared his outlook for FY18.
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Amazon picks up 5 percent stake in Shoppers Stop. CNBC-TV18's Priya Sheth caught up with Govind Shikhande, MD of Shoppers Stop and asked him about the details of the agreement and how it will impact the company.
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Four months post demonetisation normalcy has not yet returned, it is still a roller coaster ride and business as usual is likely to resume by March end, says Govind Shrikhande, CEO, Shoppers' Stop.
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Last time when pay revisions were announced, Shoppers Stop had seen almost 20 percent jump in sales, says MD Govind Shrikhande.
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In an interview with CNBC-TV18, Govind Shrikhande, MD of Shoppers Stop said that the partnership is based on the click, collect and ship from store model and will be launched in the third quarter of this year.
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According to Govind Srikhande, till date no one was allowed to take up a stake in an existing company. They wanted only Greenfield projects to be setup. This particular clearance shows that one can now have a tie-up with an existing retail operator
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Zodiac Clothing has been very active over the last one week after private investors, Nemish Shah and Akash Bhansali bought a large chunk of stock in it. It owns 17 lakh shares in Shoppers Stop.
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One of the oldest retailers in the country Shopper's Stop on the art and science of data analytics
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Footwear firm Pavers England last week became the first company to get the Foreign Investment Promotion Board's nod for 100% FDI in single-brand retail. Utsav Seth, MD & CEO, Pavers India explains to CNBC-TV18 about his plans for investment in the country.
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Rajan Mittal, MD, Bharti Enterprises, says that this decision has been well thought through as you know the pause was there and it has been 10 months and I am sure government has done and has build consensus to make this announcement.
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Govind Shrikhande, MD, Shoppers Stop explains to CNBC-TV18 that the FDI initiative had to be supported by further decisions to derive the maximum benefit of foreign investment and domestic growth.
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Raj Jain of Bharti Walmart, says that overall, this is a big policy announcement for the Indian economy not only for multi-brand retail but for several sectors and several issues which have been pending for a long time, we welcome the decision.
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Kishore Biyani, CEO, Future Group explains to CNBC-TV18 that it took some time for all the stakeholders to realize that it was a win-win proposal. Biyani added that FDI would boost the economy and encourage entrepreneurship in the country.
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RC Agarwal, CMD, Vishal Retail, says that currently, we are not in talks with foreign company but this will bring lot of benefits for the government, customers, retailers because from now onwards the home retail industry will consolidate.
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Ficci secretary-general Rajiv Kumar explains to CNBC-TV18 that the decision to allow FDI into multi-brand retail will confuse the Opposition and boost the domestic and overseas investment sentiment.
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In an interview with CNBC-TV18, BS Nagesh the Vice Chairman of Shoppers Stop wouldn’t say there is a very big slowdown but there is a very relative slowdown compared to what was happening earlier.”
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Shoppers Stop, among the oldest organised retailers in India, has embarked on an aggressive growth path amid a growing competition from Indian as well multinational firms.
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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.
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In an interview with CNBC-TV18, Govind Shrikhande, managing director of Shoppers Stop says, foreign direct investment (FDI) is very important for India and is critical for the growth of multiple sectors and just not retail.
