Shoppers' Stop is looking at expanding its brand offerings by bringing in a larger number of high end brands into its stores.
Govind Shrikhande, chief executive officer, Shoppers' Stop, said they would soon be introducing Damas, an upper end gold and diamond jewellery brand from Dubai in their outlets. With the move, the company aims to increase the number of offerings in the premium segment in its stores.
"The idea is to get a larger number of high street brands into the stores over the next year or so," said Shrikhande, adding that there would be equal focus on bringing in the high street international brands like GANT and Nautica into the store as well.
Both these brands are distributed in India by the Arvind brand. The move is seen as being able to provide products at different price points to the consumer and a variety of brands so as to cater to different consumer profiles.
In terms of the difference that it would make to the overall pricing, Shrikhande said that the chunk of the brands would continue to be in the mid-range. He added that inspite of the new brands, the average price level at the store would not go up by more than eight per cent.
While the company is likely to introduce some private labels as well, which would fit into the premium segment, Shrikhande made it clear that the company would not look at taking its private label portfolio to over 25 per cent of the entire product range.
He said it would happen over the next three years. Currently, private labels form about 20 per cent of the the store's apparel offerings.
Apart from Damas, Shoppers' Stop had recently brought in the Mothercare brand to India for which it was the exclusive licensee.
Shrikhande said they would continue to be on the lookout for such opportunities and simultaneously look at housing other brands which were distributed by other companies in India.
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