Department store chain Shoppers Stop has launched gift cards at its Juhu store in Mumbai. The company also plans to open eight more stores this fiscal. The minimum gift card value is Rs 500 and can be redeemed and refilled in multiples of 50 from any store in India and from the company’s e-tailing website.
Speaking on the future plans for this fiscal, Govind Shrikhande, Customer Care Associate and Managing Director, Shoppers Stop said: “Within three years, we plan to add 24 more stores in the country. We are targeting at having eight stores by the end of this financial year. Not only metros, but we will also open stores in tier II and III cities.” Shrikhande said that loyalty programmes have been quite beneficial to the company and have resulted in 72 percent rise in annual sales.
With a turnover of about Rs 2,700 crore from the last financial year, Shoppers Stop expects a sales growth by 20 percent. The company will be investing around Rs 380 crore in opening more points-of-sale this year.
