1. Opening Hook
While most retailers still chase footfall with “Buy 1 Get 1” deals, Shoppers Stop has gone full luxury yoga — stretching margins while chanting “premiumization.” CEO Kavindra Mishra sounded like a man who swapped discount boards for Dior counters. The quarter’s message? Sell fewer, pricier things to richer, happier people.
But beneath the glamour sits a value-fashion headache named INTUNE and a beauty business that’s glowing more on PowerPoint than in profit. Stick around — this concall was part success story, part therapy session for cautious consumers and cash-burning experiments. 🛍️
2. At a Glance
- Revenue up 7% – Finally some retail therapy that worked.
- EBITDA up 42% – That’s the glow-up premium stores promised.
- Core PBT: +₹9 Cr vs -₹12 Cr YoY – Black ink spotted after a year in hiding.
- Beauty business +22% – Fragrances carried the makeup of optimism.
- Premium mix 69% of sales – India’s mall crowd is levelling up.
- Customer entries +6% – Footfalls finally walked the talk.
- INTUNE losses rising – Value fashion is now “valuable experience.”
3. Management’s Key Commentary
Kavi Mishra (MD & CEO): “Premiumization is not a cosmetic change.”
(Translation: Except, it totally is — with lighting, fixtures, and new adjectives.) 💄
“Personal Shoppers now drive 25% of sales.”
(Translation: Customers are lazy, and we’re monetizing it beautifully.)
“Private brands like STOP and Kashish are among top 10 apparel brands.”
(Translation: Why sell Levi’s when you can sell yourself
