Shoppers Stop – Startup Story | Founder| CEO | Funding | History | Competitors

Introduction:

The Indian retail enterprise, Shoppers Stop has emerged as one of the maximum dynamic and rapid-paced industries because of the access of numerous new gamers. It debts for over 10 in keeping with cent of the country’s Gross Domestic Product (GDP) and round eight in keeping with cent of the employment. India is the world’s fifth-biggest international vacation spot withinside the retail space. India’s retail marketplace is predicted to almost double to US$ 1 trillion through 2020 from US$ six hundred billion in 2015, pushed through earnings boom, urbanization and attitudinal shifts.

While the general retail marketplace is predicted to develop at 12 in keeping with cent in keeping with annum, cutting-edge exchange might amplify two times as rapid at 20 in keeping with cent in keeping with annum and conventional exchange at 10 in keeping with cent. The average boom may be pushed through key demographic changes.

Kaufman and Lane(1996); Frasquet, Gil and Molle (2001) and Parikh (2006) take a look at that today’s international retail surroundings is unexpectedly converting extra than ever earlier than as it’s far typified through developing opposition from each home and overseas companies, a upward thrust in mergers and acquisitions, and extra stylish and annoying customers who’ve high-quality expectancies associated with their intake experiences. Changes in customers’ herbal and social environments; and generation have a massive effect on their shopping for and purchasing behavior.

About:

Shoppers Stop is an Indian branch save chain, owned through the K Raheja Corp. Shopper Stop Limited is engaged withinside the commercial enterprise of retailing quite a number family and customer merchandise via departmental shops. Its merchandise encompass apparels and non-apparels. Its non-garb class consists of cosmetics, non-public add-ons and leather-based goods, domestic wares, electronics, books, and music

The agency, via its internet site, Shoppersstop.com, gives global and country wide manufacturers in men’s, women’s and kids’ garb, items and style add-ons inclusive of women watches, men’s watches, synthetic jewellery, best jewellery, handbags, fragrances, men’s and women’s footwear, domestic furnishing and decor merchandise. It has over six personal manufacturers, specifically STOP, Kashish, Life, Haute Curry, Velorio Fratini and Elliza Donatein. It gives First Citizen Loyalty Program for customers. Its utility is to be had on Google Play Store and Apple App Store.

Shoppers Stop is domestic to a mess of main global and country wide manufacturers for apparels, fragrances, add-ons, cosmetics, footwear, domestic décor and fixtures catering to the desires of the whole family. 

Founder & Team:

Shoppers Stop is an Indian branch save chain, owned through the K Raheja Corp. It has headquarters in Mumbai, India.

History:

Shopper’s Stop (SSL) is one of the main gamers in retail section. Being a part of the K. Raheja Corp Group, the agency began out its adventure in retail in 1991. Later in 1997, the agency became incorporated. The agency began out from a unmarried logo save to turning into a style and life-style save for the family. The agency is widely recognized call that grants advanced nice merchandise and services.

K Raheja Corp (Parent Company) has commercial enterprise pursuits in realty, hospitality and retailing sectors. Besides Shopper’s Stop, the institution owns manufacturers like In Orbit, The Resort, Renaissance Mumbai Hotel & Convention Centre, J W Marriott, Lake aspect Chalet and plenty of extra.

Shopper’s Stop is biggest chain of branch shops at found in India. The agency has a 19% stake in Hyper town Retail (India). The agency’s subsidiary Gateway Multichannel Retail (India) has delivered the idea of catalogue shops, name and collects save, net retail internet site and smartphone orders. Presently it has five shops running at Thane.

Shopper’s Stop has signed a non–distinct retail settlement with beauty fundamental Estee Lauder to open MAC Cosmetics shops in India. Currently there are four MAC shops running in Bengaluru, Delhi and Mumbai.

It has additionally entered into airport retailing through getting into joint mission with The Nuance Group AG of Switzerland. Currently it has shops at global airports at Bengaluru and Hyderabad.

The retail chain fundamental has additionally forayed into the leisure section through shopping 45% stake in Time area Entertainment, which has five shops placed at Ahmedabad, Hyderabad, Kolkata and Mumbai.

Shopper’s Stop save placed at Rajouri in New Delhi is the most important branch save withinside the country. The agency owns subsidiaries specifically Crossword Bookstores, Upasna Trading, Shopper’s Stop.Com (India), Shopper’s Stop Services (India) and Gateway Multichannel Retail (India).

Milestones:

• 1991– K Raheja Corp Group opened its first distinct menswear save at Andheri.  
• 1992– It delivered ladieswear withinside the save.
• 1993– It additionally delivered youngsters and non–apparels beneathneath the save. 
• 1994– The loyalty program –– First Citizen –– became released. 
• 1995–The institution opened its 2d save in Bangalore. 
• 1997– Shopper’s Stop became incorporated. In the equal yr the agency released co–branded credit score card for its loyalty individuals in collaboration with HSBC.
• 1998– The agency released its 1/3 save in Hyderabad. 
• 1999– The agency established JDA Retail ERP (a international chief in retail ERP packages). The equal yr agency released its 4th and fifth save at Jaipur and Delhi.
• 2000– The agency opened its sixth and seventh save placed at Chennai and Chembur. The agency additionally received Crossword – India’s main retail ee-e book chain.
• 2001–2004– The agency released nine shops placed at Pune, Bandra, Kandivali, Mulund, Gurgaon, Kolkata, Malad and Bangalore
• 2005– Shopper’s Stop released MAC and Home prevent retail save.
• 2006– It released Mothercare in India in India and its meals and beverage shops specifically Brio and Desi Café. Company additionally received 45% in Time area India.
• 2007– The agency entered right into a 50:50 joint mission with the Nuance Group for Airport Retailing Signed an MOU with the Home Retail Group of UK to go into right into a franchise association for the Argos codecs of catalogue and net retailing.
• 2010 – Loyalty Summit Award Jan 2010
• 2011 – Loyalty Summit Award Jan 2011
• VMRD Retail Design Award Feb 2011
• Supply Chain Excellence Award Sep 2011
• 2014 – In honour of Shoppers Stop’s paintings in Energy Conservation, it’s been conferred the Energy Efficiency Initiative Award on the Global Green Leadership Awards – 2014 hosted through the World CSR Congress.

Name & Logo:

Revenue:

Shoppers prevent general fees had been at Rs 905.14 crore, up 16.23 in keeping with cent in Q3/FY 2021-22, as towards Rs 778.seventy eight crore.

Funding & Investors:

Shoppers Stop has raised a complete of $28M in investment over 1 spherical. This became a Venture – Series Unknown spherical raised on Sep 25, 2017. Shoppers Stop is funded through Amazon.

Revenue Model:

It operates departmental storefronts promoting plenty of domestic and consumer goods. They function on a franchise-primarily based totally model. Its cost proposition is to continually beautify people’s lives thru fashion and a high-quality shopping for experience. Family, youngsters, the aged, and experts are their key consumer segments. Its franchisees, inclusive of Bobbi Brown, M.A.C., Mothercare, Hypercity, amongst others, are its key partners.

Its predominant obligations encompass selling and riding income starting from clothier style to décor. Staff and shops on a-places are essential belongings for the organization. The consumer interplay happens both online, at the user’s selected medium, or in shops.

Salaries, web website online improvement expenditures, uncooked cloth ordering charges, and marketing and marketing charges make up the value pyramid. It makes cash via its shops and people of its franchisees. Users can take benefit of the First Citizen Loyalty Program.

Other Services Offered via Shoppers Stop:

The Shoppers Stop institution has additionally shaped alliances and joint ventures with the Switzerland-primarily based totally nuance institution for airline purchasing, the UK-primarily based totally domestic retail institution for catalog purchasing beneathneath the logo Argos, and the Australia-primarily based totally LAI institution for Timezone leisure zones.

Competitors:

The pinnacle 10 competition in Shoppers Stop’s aggressive set are Pantaloons, Fbb Online, Max Fashion, Lifestyle International Private Limited, Trendin, Jabong, Pepperfry, Snapdeal, Myntra, Westside Pro. Together they’ve raised over 17.4B among their predicted 83.9K personnel. Shoppers Stop has five,132 personnel and is ranked 4th amongst its pinnacle 10 competition. The pinnacle 10 competition common four,239.

Latest News:

• May 9, 2022: livemint.com — Shoppers Stop ropes in Sanya Malhotra to advise personal labels
• Apr 27, 2022: ETtech.com — Retail enterprise to look low double-digit boom in FY23: Shoppers Stop’s Venu Nair
• Mar 30, 2022: Indus Business Line — HDFC Bank, Shoppers Stop release co-branded credit score cards
• Mar 24, 2022: Business Standard (India) — Shoppers Stop extends benefit after promoters up stake; surges 45% in 1 month
• Feb 21, 2022: livemint.com — Shoppers Stop opens 5 new shops
• Feb nine, 2022: Hindu Business Line — Shoppers Stop to move competitive on its splendor section
• Jan 20, 2022: ETtech.com — Shoppers Stop Q3 results: Co posts internet earnings at Rs seventy seven cr; income up 34c9, 2021: ETtech.com — Buy Shoppers Stop, goal charge Rs 425: ICICI Direct

Future Plans:

Its intention is to turn out to be the main participant in India. The organization plans to supply to India the finest retail technologies, retail processes, and income worldwide. As a part of their boom strategy, they’re presently including four to five extra shops to their portfolio annually.

Conclusion:

Shoppers Stop is the nation’s first branch save, and it serves to set the same old for all branch shops nationwide. With new fashions and alliances, the organization is prepared to reshape the Indian retail surroundings. However, their willpower to turning in handiest the first-class to its customers will make certain that achievement does now no longer come on the charge of nice.

Due to its power to research and serve the desires of all of its partners, in addition to generate perfect retail fashions for Indian clients, it has advanced to what it’s far today. The organization is in a massive race to expand long-time period fashions with a purpose to now no longer handiest assist improvement however additionally upload cost to shareholders.