From everyday to aspirations: Shoppers Stop’s reinvention journey
From everyday to aspirations: Shoppers Stop’s reinvention journey

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From everyday to aspirations: Shoppers Stop’s reinvention journey

When Kavindra Mishra took over as MD & CEO of Shoppers Stop in 2024, the country’s first lifestyle departmental store chain was battling an identity crisis. Once positioned as a premium department store, the brand over the years had diluted itself by trying to serve the needs of every customer segment (mass, premium and bridge to luxury). The number of non-performing stores were on the rise. There was also intense competition from global fashion and lifestyle brands such as H&M, Zara and Uniqlo which were taking away market share with an impactful private brands strategy. Moreover, post the pandemic most fashion brands heightened focus on their own brand stores. The idea was to be able to offer consumers the entire brand experience under one roof – from apparels to footwear, accessories, beauty and lingerie. Being part of a multibrand store wasn’t considered impactful. 

The department store format was being written off globally too. However, Mishra’s enrolment into the board of the Intercontinental Group of Departmental Stores (IGDS), an association of department stores worldwide, deepened his conviction in the future of department stores. He realised that iconic brands such as Selfridges (UK), Central (Thailand) and Le Bon Marche (France) had got their mojo back post the pandemic losses with a strong premium positioning.

“When I started interacting with IGDS it was clear that department store formats which have premiumised are the ones that have sustained.”

Source: Fortune India

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