Fashion retailer Shoppers Stop is eyeing 15 per cent revenue through its digital touch points by 2020, and plans to invest Rs.60 crore, over the next three years to boost its omni-channel strategy, a top executive said.
“We plan to invest approximately Rs.60 crore in our omni-channel efforts over the next three years, and target 15 per cent revenues through the digital medium by 2020,” Shoppers Stop Managing Director, Govind Shrikhande, said.
The retailer plans to be present across channels, including physical stores, web, television and online marketplaces.
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Over the next three years, the retail chain will extend its omni-channel strategy to group companies - HomeStop, Hypercity and Crossword, he added.
Mr. Shrikhande detailed a three-pronged strategy to be followed by the company over the next few years.
Shoppers Stop has exclusive brand tie-ups with cricketer Virat Kohli’s ‘Wrogn’, ‘Desigual’, and will launch few more brands this year, including Sonam Kapoor and Rhea Kapoor’s brand, ‘Rheason’
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“We expect to grow the sales of exclusive clothing brands from 2 per cent to 10 per cent. For our private labels or brands, we expect sales to grow from 15 per cent to over 25 per cent,” he said.
Shoppers Stop plans to expand to about 90 stores in the next three years across the country, and the strategy is expected to give the retailer access to over 8000 pin codes in India.
In the second phase of the company’s omni- channel journey, it plans to invest in warehouse management systems to strengthen its supply chain, and subsequently in master data management.
In a move to provide a seamless shopping experience to customers, Shoppers Stop today announced a tie-up with commerce platform provider ‘Hybris’ software, a SAP company.