Shoppers Stop enters value retail space with Intune
Financial Express Mumbai
|July 26, 2023
THE COUNTRY'S OLDEST department store chain, Shoppers Stop, has launched a new affordable retail format called 'Intune' to lure consumers opting for low-priced garments and accessories, the firm said in its latest investor presentation.
Three stores - two in Hyderabad and one in Dombivali near Mumbai - have been launched since June, the company said, with three more outlets in the fit-out stage, implying they will be opened shortly. Clothes, accessories and footwear are priced at under ₹500 a unit, making it an attractive proposition for consumers.
"Intune is a 'Fashion For All' format, which is one of our strategic initiatives to cater to young families," Venu Nair, MD & CEO, Shoppers Stop, said in an investor call on Tuesday. The move is timed to deal with a discretionary slowdown that has hurt apparel sales at the company, experts tracking the market said.
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