K Raheja-promoted retail chain Shoppers Stop will invest Rs 120 crore this year to open new stores, and renovate the older stores. A source says, on an average, the company will invest Rs 120 crore to open five department stores and 12 beauty stores in the beauty format this year. The company is also planning to renovate 7 older stores in the current financial year. Shoppers Stop, in which retail giant Amazon had picked up 5 percent stake last year, runs big format stores in fashion retailing called Shoppers Stop and home retailing stores, Homestop. The company also operates brands like MAC, Clinique, Estee Lauder, Bobbi Brown, Smashbox and Crossword in the country. Signage companies with the knack of in-store branding, designs and graphics will get fresh business opportunity with such store expansion plan of Shoppers Stop.
