Retail in Asia

In Shops

Strong economy boosts Indian retailer confidence, store expansions afoot

Indian retailing appears to be on the upswing, with the major chains detailing their expansion plans at the India Shopping Centre Forum in Delhi.

Retailers’ confidence comes after the effects of the slowdown tail off and economic buoyancy – on the back of strong fourth quarter sales – appear to propel their growth plans.

This was reflected by Govind Shrikhande, president and CEO of Shoppers Stop, who said the department store chain plans to near double its existing number of 30 stores in five years in seven to eight tier II and III cities, such as Aurangabad, Bhopal and Mysore.