Shoppers’ Stop to Build-A-Bear in their stores
K RAHEJA Group-promoted retail chain Shoppers’ Stop is launching US-based interactive kids brand, Build-A-Bear in their stores soon through the shop-in-shop format. “We will initially launch the brand through the shop-in-shop format and look at the prospects of standalone stores later,” Shoppers’ Stop CEO Govind Shrikhande said. Shoppers’ Stop will have a three-year non-exclusive agreement with the Murjani Group, which is bringing the brand into India, he added. Founded in 1997, Build-A-Bear is a mall-based retailer that allows children to design their own stuffed animals. The retailer had 271 companyowned retail stores in the US, Canada, the UK, and Ireland as on December 30. Of those stores, 232 are Build-A-Bear Workshop stores located in the US and Canada and 38 are located in the UK and Ireland. Revenues for the company during the 2006 fiscal stood at $437.10 million. It has about 30 styles of stuffed animals, plus clothing and accessories for bears. It also has e-cards and a book club, plus tie-in at Kids Apparel retailer too. The retailer had, in April 2006, acquired The Bear Factory and its UK franchisee, Amsbra. Shoppers’ Stop is also looking at reintroducing some of the foreign brands in the luxury category. “We had brought a luxury brand to India by the name of Eaton, but it failed to succeed as the range was through the import route and the customer in India was not ready for it. However, the customer is now getting ready for it and so we will be bringing in international brands in the segment, including Tommy Hilfiger, Calvin Klein, Espirit and others in the price range of Rs 2,500-3,000 in the next three months,” Mr Shrikhande said.
Courtesy: EconomicTimes
For more detail on Retail India visit: http://www.retailindia.tv/
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