One of India’s leading fashion retailers Shoppers Stop Ltd. has reported a 4% increase in sales for Q2 FY25, reaching Rs 1,068 crore, with an EBITDA of Rs 157 crore under GAAP standards. For the half-year period (H1 FY25), the company recorded a 5% rise in sales to Rs 2,102 crore, and EBITDA stood at Rs 302 crore.
Key contributors to the company’s growth include a 10% rise in beauty segment sales, driven by strong performance in fragrances, which grew 17% and now account for 17% of total sales. Shoppers Stop’s premium category also saw increased contributions, growing from 60% to 64% year-on-year.
Expansion remains a key focus, with 25 new stores opened during the quarter, including 19 INTUNE stores. INTUNE, the company’s value fashion format, reached a milestone of 50 stores on October 1, 2024. The company aims to open 50 more INTUNE stores by the end of FY25. Additionally, the First Citizen loyalty program continues to be a significant revenue driver, contributing 81% of total sales, with 67% coming from repeat customers. The beauty segment reported sales of Rs 218 Cr, with 10% growth, led by fragrance 17%. This was fostered by customer engagement activities leading the growth with 188,000 makeovers, 245 Master Classes and 6 beauty Soiree events. Furthermore, global SS Beauty Brands Limited, its 100% subsidiary reported Rs 52 Cr sales with +130% YoY.
Despite muted demand in July and August due to fewer wedding dates and extended rains, the company saw a 12% sales boost in September, with like-for-like growth of 9%.
Commenting on the results, Kavindra Mishra, MD and CEO of Shoppers Stop, said, “We remained resilient in our pursuit to deliver growth despite a challenging environment. Beauty and premium categories continue to outperform, and we are making strategic investments in these areas.”
Shoppers Stop also highlighted the continued success of its private brands, which contributed Rs 156 crore in sales, representing 12% of overall sales and 18% in the apparel segment. This helped the company reduce its inventory by Rs 40 crore compared to the previous year.
Looking ahead, the company plans to add 50 more INTUNE stores, seven department stores, six beauty stores, and two HomeStop stores in Q3 and Q4 of FY25, supported by a capex investment of Rs 43 crore.
About Shoppers Stop Limited
Shoppers Stop Ltd., established in 1991, operates 112 department stores, 11 premium home concept stores, 87 speciality beauty stores (including M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty), 50 Intune stores, and 20 airport doors, covering 4.4 million sq. ft. across 65 cities in India. The company runs the ‘First Citizen’ loyalty program and offers a ‘Personal Shopper’ service. Its omnichannel platform features over 800 brands across a wide range of products.
