Shoppers Stop Ltd

Elevating Fashion Experiences, Crafting Aspirations!

With external factors creating a conducive environment for robust consumer spending and retail growth, Shoppers Stop is well-positioned for significant progress.

Dear Shareholders,

The fashion industry stands as a dynamic canvas of creativity and innovation, continually reshaping on perceiving style and elegance. In this vibrant world, ‘Elevating Fashion Experiences, Crafting Aspirations!' isn't just a statement—it's our promise. At Shoppers Stop, we skilfully blend the latest trends with timeless elegance, positioning ourselves as leaders in India's omnichannel fashion and beauty retail. Our dedication lies in offering premium and customer-centric experiences that cater to the aspirations of our diverse consumer base.

With external factors creating a conducive environment for robust consumer spending and retail growth, Shoppers Stop is well-positioned for significant progress. Our focus on premiumisation and enhancing the shopping experience defines our path forward. As pioneers of modern retail in India, we are dedicated to meeting the nation's fashion and beauty needs through unforgettable shopping experiences for our discerning customers, both in-store and online. This revitalises Shoppers Stop, aligning our efforts with the aspirations of millions of Indians.

Our multi-fold strategy revolves around four Pillars, viz., having curated Brands, increasing Private Brand share profitably, expanding Beauty to increase market share amongst Departmental stores, and lastly, Expansion to create a presence across the country. We are increasing our reach through physical stores such as Departmental stores,

Our focus remains on elevating fashion experiences and fulfilling aspirations through premiumisation and customer centricity. With a clear vision, strategic initiatives, and team dedication, we aim to exceed industry expectations and shape retail's future.

Specialty Beauty stores, or our latest offering, INTUNE stores, where we offer fashion at an affordable price. We are also improving Customer Experience (CX) in Omni and adding relevant categories. We are committed to elevating quality and exclusivity by introducing luxury brands renowned for their superior craftsmanship.

Moving forward, our focus remains on elevating fashion experiences and fulfilling aspirations through premiumisation and customer centricity. With a clear vision, strategic initiatives, and team dedication, we aim to exceed industry expectations and shape retail's future. I firmly believe we are at the cusp of a retail revolution. As I sign off, I'm confident that with a great team at Shoppers Stop, we'll have more than our share of opportunities in varied markets.

I would like to thank my fellow Board members for the governance and guidance provided to the management team. My gratitude to all our Customer Care Associates, vendor partners, and customers for helping us maintain our leadership in the department stores business.