Virat Kohli has meaningfully contributed to Shoppers Stop's first quarter earnings of FY16, according to the management.
Wondering how?
Virat Kohli's clothing line 'Wrogn' is one of the exclusive brands that Shoppers Stop launched recently.
"The exclusive brand that got launched this year in Q4 (last fiscal year) and played very big role which is Virat Kohli's brand Wrogn. Done pretty well in Q1 (April-June 2015)," Govind Shrikhande, managing director, Shoppers Stop told NDTV. (Watch)
Virat Kohli launched his brand 'Wrogn' last year.
The other exclusive brands launched by Shoppers Stop recently include Spanish brand Desigual during the first quarter of the current fiscal and designer Rocky S' brand Rocky Star which has just been launched in the current quarter.
Shoppers Stop is betting big on these new launches and expects them to boost profitability going forward.
"I believe these will drive not only exclusivity but they will also drive our profitability in the long-term," Mr Shrikhande said.
"From the like-to-like growth on Ebidta (earnings before interest, depreciation, taxes and amortisation) side we are targeting 8 per cent over the next 24-30 months period," he added.
Going forward, the company also expects online shopping to play a major role in its sales. Globally online retail contributes 9 per cent of total retail sales and it is pretty strong in US, China and UK, Mr Shrikhande said. However, India is lagging behind but that also leaves a huge scope for player like Shoppers Stop to cash in, he said.
"Although out of today's $600 billion Indian retail, less than $4 billion is online but by 2020 it is expected to be anywhere between $50-60 billion.
"We believe that the growth rate in online is going to be pretty big and if we can be party to this growth I think that would be great," Mr Shrikhande said.
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