Construction baron GL Raheja is about to stretch his retail compass by taking over Homecare Retail Mart, a chain of hypermarket stores mauled by the slowdown, pitting himself against brother CL Raheja’s Shoppers Stop and Hypercity. The GL Raheja group is buying out other high net worth investors in the Mumbai-based company for an undisclosed amount, [...]
Shopper’s Stop keeps Rs 300 crore for expansion
January 21, 2010 By Leave a Comment
BSE listed retail chain Shopper’s Stop, promoted by K Raheja group, which currently operates 29 Shoppers Stops and 5 hypercity malls in the country has earmarked Rs 300 crore as its capex for the next 2-3 years to expand operations, a top company official said. “We have a capex plan of Rs 250-300-crore for over [...]
Hypercity Launches 5th Store in Mumbai
January 15, 2010 By 1 Comment
HyperCITY Retail (I) Limited, yesterday launched its much awaited store at Big Thane Shopping Centre, Ghodbunder Road, Thane. After the successful launch of four stores; in Mumbai, Vashi, Jaipur & Hyderabad; HyperCITY Thane is the fifth store in India and third in Mumbai. Commenting on the launch of the Thane store, Mr. B S Nagesh, [...]
Shopper’s Stop will invest Rs 350 cr in 5 yrs
December 17, 2009 By Leave a Comment
Mumbai: Retail chain 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, a top company official said.
“We have drawn up investment plans of Rs 200 crore for adding 18 new stores with about three million square feet in the next three-years period,” President & CEO of Shopper’s Stop Govind Shrikhande said in Mumbai.
The stores will be opened at Ahmedabad, Amritsar, Mysore, Mangalore, Aurangabad, Chandigarh and other Tier II cities, Shrikhande said.
A further Rs 150 crore has been earmarked to add 14 more stores but plans for this are still in the preliminary stage, he said.
At present, the retail chain has a network of 28 stores in 12 cities all across the country over an area of 1.88 million sq feet.
The company, launched Europe’s first denim brand, Mustang in the city, plans to introduce more foreign brands in the near future, the official said.
On its private labels business, Shrikhande said that its contribution to the company’s sales this year fell to 17 per cent against 20 per cent in the last year.
Change in depreciation policy may help Shoppers Stop bottom-line
October 19, 2009 By Leave a Comment
After a slow start, the country’s first departmental store, Shopper’s Stop, is slowly catching up. Though Pantaloon has left it far behind in terms of geographic reach, the Shopper’s Stop stock gave investors a return of 68% over the last 10 months, better than Pantaloon, which posted a return of 49% during the period. With [...]
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