We want to be grade ‘A,’ not rank no. ‘1’

B.S.Nagesh“Shoppers’ Stop doesn’t want to be rank 1 but grade A. I think the best way to look at business is from the stakeholder’s point of view. We may be in the rank of 4 or 5, but if we are meeting targets set as part of our business plans and generated value, then I think we are doing our job.”

“There will always be somebody in rank 1, 2, 3, 4 of investments. But we are clear on the ethos of our plans and opportunities to be quickly identified. We do not want short-term targets, just a long-term vision. That is value-creation and stakeholders value the company by the PE they get.”

“We are sticking to the high-value end that keeps buying even in a recession…Even with our grocery retail, Hypercity, the grocery content is just about 30%. The positioning is such that not everyone can go in. The walk-ins may not be the highest but it has the highest ticket size and conversion rates.”

B.S.Nagesh, Managing Director, Shoppers’ Stop (In an exclusive interview to the Economic Times)

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