Shoppers Stop‘s budget-friendly fashion brand, Intune, has opened its first store in Nagpur, Maharashtra, as announced in a social media post.
Ssumit Jhaam, Regional Director of Ciril, a Mumbai-based commercial real estate brokerage company, said, “Happy to announce the grand launch of Intune’s 1st store in Nagpur.”
Last year, Shoppers Stop introduced its affordable fashion format in Hyderabad. Since then, the brand has expanded with new outlets in Mumbai, Hyderabad, Vijayawada, Ahmedabad, Bengaluru, Thiruvananthapuram, Vadodara, and most recently in Nagpur, bringing the total number of operational stores to over 20.
According to reports, Intune launched one store in the third quarter of the fiscal year (FY) 2023-24 and approximately seven more in the final quarter of FY 2023-24.
Continue Exploring: Shoppers Stop’s Intune expands with two new stores in Gujarat and Thiruvananthapuram
Shoppers Stop began its journey in 1991 with its first store in Andheri, Mumbai, initially focusing on men’s wear. Since its inception, it has grown into a retail giant, with more than 105 department stores, over 88 beauty outlets, and seven home-stop stores spanning 56 cities.
Spanning a total area of 4.1 million square feet (sq. ft.), Shoppers Stop serves a vast customer base, accommodating more than 49 million walk-ins each year. The company employs over 18,600 individuals, referred to as customer care associates by the retailer. Beyond its impressive scale, Shoppers Stop offers a wide variety of products from over 800 brands, including a mix of national, regional, owned, and international labels.
The company’s revenue from operations increased by 8.83% to INR 1,237.52 crore in the third quarter of the fiscal year (FY) 2023-24. In the same quarter, it opened 13 new stores, comprising four department stores, four beauty outlets, four Intune locations, and one airport store.
On Monday, Shoppers Stop’s share price closed at INR 757.60, a decrease of 0.18%.
Continue Exploring: Shoppers Stop betting big on beauty segment, targets to open 100 stores
